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Hedge fund and institutional investor, Versor Investments has sold 21.6% of its holdings in GitLab Inc. during Q4, reducing its shares by 3,758. The remaining 13,642 shares are worth $620,000. Other institutional investors, including UMB Bank n.a., also bought and sold GitLab shares during the same period. Analysts have provided mixed reviews on GitLab’s performance, with some decreasing their target prices and others giving it a buy rating. The recent GTLB stock performance has shown a slight increase of 2.4%, trading at $33.87. GitLab’s Q1 earnings report had a positive EPS of $0.11, with revenue up 58% YoY, but with negative return on equity and net margin.
GitLab’s growth potential
Despite the mixed quarterly earnings report, GitLab Inc. has shown promising growth potential in the software development industry. The company offers a comprehensive DevOps platform that enables developers to collaborate on code, track and manage projects, and deploy applications. GitLab’s (NSD:GTLB) cloud-based platform has gained popularity among software development teams for its robust features, ease of use, and cost-effectiveness compared to other similar platforms in the market. The company has also been expanding its customer base, with over 2,200 customers worldwide, including notable companies like Alibaba, Delta Airlines, and Goldman Sachs. With the increasing demand for software development solutions, GitLab is well-positioned to capture a significant share of the market and deliver long-term value to its shareholders.
Gitlab Stock Analysis & Forecast
According to 20 analysts’ forecasts, the average target price for GitLab Inc. over the next 12 months is USD 51.68, with an average analyst rating of Strong Buy. Stock Target Advisor has conducted its own analysis of GitLab Inc.’s stock and classified it as Slightly Bearish based on 3 positive signals and 6 negative signals. At the close of the last trading day, the stock price of GitLab Inc. was USD 33.13, indicating a decrease of -0.81% over the past week, -25.72% over the past month, and -34.86% over the past year.
Business Profile
GitLab Inc. is a software development company that operates in the United States, Europe, and the Asia Pacific. The company’s main product is GitLab, a single application DevOps platform that enhances the software development lifecycle by providing visibility and control over each stage of the process. This platform helps businesses to plan, build, secure, and deploy software quickly, which in turn drives better business outcomes. In addition to its software product, the company also offers professional services and training. GitLab Inc. was founded in 2011 under the name GitLab B.V. and changed its name in July 2015. The company is headquartered in San Francisco, California.
FAQs
What is GitLab Inc.?
GitLab Inc. is a technology company that provides a web-based Git repository manager and continuous integration and deployment services.
Why did Versor Investments LP reduce its stake in GitLab?
Versor Investments LP reduced its stake in GitLab by 21.6% during the 4th quarter, according to the company’s Form 13F filing with the Securities & Exchange Commission. The reason behind the move is unknown.
What is the consensus rating for GitLab among analysts?
Four research analysts have rated the stock with a hold rating and ten have given a buy rating to the company.
What was GitLab’s quarterly revenue for the most recent quarter?
GitLab (NSD:GTLB) last announced its quarterly earnings data on Monday, March 13th. The company had revenue of $122.90 million for the quarter, compared to the consensus estimate of $119.59 million.
What is the current stock price of GitLab Inc.?
Shares of GitLab stock opened at $33.87 on Thursday, with a one year low of $30.92 and a one year high of $70.96.
