In the latest quarter, 16 analysts provided ratings for GitLab GTLB, showcasing a mix of bullish and bearish perspectives.
The following table encapsulates their recent ratings, offering a glimpse into the evolving sentiments over the past 30 days and comparing them to the preceding months.
| Bullish | Somewhat Bullish | Indifferent | Somewhat Bearish | Bearish | |
|---|---|---|---|---|---|
| Total Ratings | 6 | 8 | 2 | 0 | 0 |
| Last 30D | 0 | 1 | 0 | 0 | 0 |
| 1M Ago | 0 | 0 | 0 | 0 | 0 |
| 2M Ago | 6 | 6 | 2 | 0 | 0 |
| 3M Ago | 0 | 1 | 0 | 0 | 0 |
Analysts have set 12-month price targets for GitLab, revealing an average target of $62.44, a high estimate of $75.00, and a low estimate of $50.00. This current average has increased by 1.3% from the previous average price target of $61.64.
Interpreting Analyst Ratings: A Closer Look
The standing of GitLab among financial experts is revealed through an in-depth exploration of recent analyst actions. The summary below outlines key analysts, their recent evaluations, and adjustments to ratings and price targets.
| Analyst | Analyst Firm | Action Taken | Rating | Current Price Target | Prior Price Target |
|---|---|---|---|---|---|
| Sanjit Singh | Morgan Stanley | Announces | Overweight | $70.00 | - |
| Ryan McKeveny | Barclays | Raises | Equal-Weight | $55.00 | $50.00 |
| J. Derrick Wood | TD Cowen | Raises | Buy | $63.00 | $58.00 |
| Gray Powell | BTIG | Raises | Buy | $63.00 | $58.00 |
| Karl Keirstead | UBS | Raises | Buy | $65.00 | $62.00 |
| Matthew Hedberg | RBC Capital | Raises | Outperform | $60.00 | $55.00 |
| Michael Turrin | Wells Fargo | Raises | Overweight | $75.00 | $70.00 |
| Nick Altmann | Scotiabank | Raises | Sector Outperform | $65.00 | $59.00 |
| Koji Ikeda | B of A Securities | Raises | Buy | $68.00 | $66.00 |
| Shrenik Kothari | Baird | Raises | Outperform | $62.00 | $59.00 |
| Gil Luria | DA Davidson | Maintains | Neutral | $50.00 | $50.00 |
| J. Derrick Wood | TD Cowen | Lowers | Buy | $58.00 | $76.00 |
| Koji Ikeda | B of A Securities | Lowers | Buy | $66.00 | $80.00 |
| Shrenik Kothari | Baird | Announces | Outperform | $59.00 | - |
| Yi Fu Lee | Cantor Fitzgerald | Maintains | Overweight | $55.00 | $55.00 |
| Matthew Hedberg | RBC Capital | Maintains | Outperform | $65.00 | $65.00 |
Key Insights:
- Action Taken: Responding to changing market dynamics and company performance, analysts update their recommendations. Whether they 'Maintain', 'Raise', or 'Lower' their stance, it signifies their response to recent developments related to GitLab. This offers insight into analysts' perspectives on the current state of the company.
- Rating: Unveiling insights, analysts deliver qualitative insights into stock performance, from 'Outperform' to 'Underperform'. These ratings convey expectations for the relative performance of GitLab compared to the broader market.
- Price Targets: Analysts set price targets as an estimate of a stock's future value. Comparing the current and prior price targets provides insight into how analysts' expectations have changed over time. This information can be valuable for investors seeking to understand consensus views on the stock's potential future performance.
To gain a panoramic view of GitLab's market performance, explore these analyst evaluations alongside essential financial indicators. Stay informed and make judicious decisions using our Ratings Table.
Stay up to date on GitLab analyst ratings.
About GitLab
GitLab Inc operates on an all-remote model. GitLab, a complete DevSecOps platform delivered as a single application. It operates in two competitive landscapes: DevOps point solutions and DevOps platforms. In terms of point solutions that are stitched together, GitLab's offering is substantially different in that it is one platform, one codebase, one interface, and a unified data model that spans the entire DevSecOps lifecycle. DevOps platforms, the principal competitor is Microsoft Corporation following their acquisition of GitHub. GitLab is offered on both self-managed and software-as-a-service (SaaS) models. It is located in the United States, Europe, and Asia Pacific. It focused on accelerating innovation and broadening the distribution of its platform to companies across the world.
Understanding the Numbers: GitLab's Finances
Market Capitalization: Indicating a reduced size compared to industry averages, the company's market capitalization poses unique challenges.
Revenue Growth: GitLab's remarkable performance in 3 months is evident. As of 31 July, 2024, the company achieved an impressive revenue growth rate of 30.81%. This signifies a substantial increase in the company's top-line earnings. In comparison to its industry peers, the company stands out with a growth rate higher than the average among peers in the Information Technology sector.
Net Margin: GitLab's net margin excels beyond industry benchmarks, reaching 7.09%. This signifies efficient cost management and strong financial health.
Return on Equity (ROE): GitLab's ROE lags behind industry averages, suggesting challenges in maximizing returns on equity capital. With an ROE of 2.14%, the company may face hurdles in achieving optimal financial performance.
Return on Assets (ROA): GitLab's financial strength is reflected in its exceptional ROA, which exceeds industry averages. With a remarkable ROA of 0.96%, the company showcases efficient use of assets and strong financial health.
Debt Management: GitLab's debt-to-equity ratio is below the industry average at 0.0, reflecting a lower dependency on debt financing and a more conservative financial approach.
Analyst Ratings: What Are They?
Analyst ratings serve as essential indicators of stock performance, provided by experts in banking and financial systems. These specialists diligently analyze company financial statements, participate in conference calls, and engage with insiders to generate quarterly ratings for individual stocks.
Some analysts will also offer forecasts for metrics like growth estimates, earnings, and revenue to provide further guidance on stocks. Investors who use analyst ratings should note that this specialized advice comes from humans and may be subject to error.
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This article was generated by Benzinga's automated content engine and reviewed by an editor.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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