15 analysts have expressed a variety of opinions on GitLab (NASDAQ:GTLB) over the past quarter, offering a diverse set of opinions from bullish to bearish.
The table below summarizes their recent ratings, showcasing the evolving sentiments within the past 30 days and comparing them to the preceding months.
| Bullish | Somewhat Bullish | Indifferent | Somewhat Bearish | Bearish | |
|---|---|---|---|---|---|
| Total Ratings | 6 | 6 | 3 | 0 | 0 |
| Last 30D | 0 | 1 | 0 | 0 | 0 |
| 1M Ago | 1 | 0 | 0 | 0 | 0 |
| 2M Ago | 1 | 1 | 1 | 0 | 0 |
| 3M Ago | 4 | 4 | 2 | 0 | 0 |
Insights from analysts' 12-month price targets are revealed, presenting an average target of $64.0, a high estimate of $75.00, and a low estimate of $50.00. This current average has increased by 9.18% from the previous average price target of $58.62.
Investigating Analyst Ratings: An Elaborate Study
In examining recent analyst actions, we gain insights into how financial experts perceive GitLab. The following summary 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 |
|---|---|---|---|---|---|
| Jason Celino | Keybanc | Raises | Overweight | $74.00 | $62.00 |
| J. Derrick Wood | TD Cowen | Raises | Buy | $70.00 | $63.00 |
| Mike Cikos | Needham | Announces | Buy | $70.00 | - |
| Gil Luria | DA Davidson | Maintains | Neutral | $50.00 | $50.00 |
| 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 |
Key Insights:
- Action Taken: In response to dynamic market conditions and company performance, analysts update their recommendations. Whether they 'Maintain', 'Raise', or 'Lower' their stance, it signifies their reaction to recent developments related to GitLab. This insight gives a snapshot of 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: Understanding forecasts, analysts offer estimates for GitLab's future value. Examining the current and prior targets provides insight into analysts' changing expectations.
Considering these analyst evaluations in conjunction with other financial indicators can offer a comprehensive understanding of GitLab's market position. Stay informed and make well-informed decisions with our Ratings Table.
Stay up to date on GitLab analyst ratings.
Delving into GitLab's Background
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.
Financial Milestones: GitLab's Journey
Market Capitalization: With restricted market capitalization, the company is positioned below industry averages. This reflects a smaller scale relative to peers.
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. As compared to competitors, the company surpassed expectations 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 ROA surpasses industry standards, highlighting the company's exceptional financial performance. With an impressive 0.96% ROA, the company effectively utilizes its assets for optimal returns.
Debt Management: With a below-average debt-to-equity ratio of 0.0, GitLab adopts a prudent financial strategy, indicating a balanced approach to debt management.
What Are Analyst Ratings?
Ratings come from analysts, or specialists within banking and financial systems that report for specific stocks or defined sectors (typically once per quarter for each stock). Analysts usually derive their information from company conference calls and meetings, financial statements, and conversations with important insiders to reach their decisions.
In addition to their assessments, some analysts extend their insights by offering predictions for key metrics such as earnings, revenue, and growth estimates. This supplementary information provides further guidance for traders. It is crucial to recognize that, despite their specialization, analysts are human and can only provide forecasts based on their beliefs.
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This article was generated by Benzinga's automated content engine and reviewed by an editor.
