Robert W. Baird Increases GitLab (NASDAQ:GTLB) Price Target to $75.00

GitLab (NASDAQ:GTLB) had its target price increased by Robert W. Baird from $62.00 to $75.00 in a research note released on Friday morning,Benzinga reports. They currently have an outperform rating on the stock.

A number of other equities research analysts also recently weighed in on the company. Barclays lifted their price objective on GitLab from $50.00 to $55.00 and gave the company an “equal weight” rating in a report on Thursday, September 5th. Scotiabank lifted their price objective on GitLab from $65.00 to $75.00 and gave the company a “sector outperform” rating in a report on Wednesday, December 4th. TD Cowen lifted their price objective on GitLab from $63.00 to $70.00 and gave the company a “buy” rating in a report on Thursday, November 21st. KeyCorp boosted their target price on GitLab from $62.00 to $74.00 and gave the stock an “overweight” rating in a report on Tuesday, November 26th. Finally, Royal Bank of Canada boosted their target price on GitLab from $55.00 to $60.00 and gave the stock an “outperform” rating in a report on Wednesday, September 4th. Three research analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, GitLab currently has a consensus rating of “Moderate Buy” and a consensus target price of $74.56.

GitLab Trading Up 1.7 %

NASDAQ GTLB opened at $67.19 on Friday. The stock’s 50 day moving average is $57.91 and its two-hundred day moving average is $52.20. The company has a market capitalization of $10.78 billion, a price-to-earnings ratio of -209.97 and a beta of 0.54. GitLab has a 1-year low of $40.72 and a 1-year high of $78.53.

Insider Buying and Selling at GitLab

In other GitLab news, CAO Erin Mannix sold 1,433 shares of the company’s stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $52.80, for a total transaction of $75,662.40. Following the completion of the sale, the chief accounting officer now owns 72,448 shares in the company, valued at approximately $3,825,254.40. The trade was a 1.94 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Robin Schulman sold 2,990 shares of the company’s stock in a transaction on Thursday, October 10th. The shares were sold at an average price of $55.00, for a total transaction of $164,450.00. Following the sale, the insider now owns 136,076 shares of the company’s stock, valued at $7,484,180. The trade was a 2.15 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 168,365 shares of company stock worth $9,674,784. Insiders own 21.36% of the company’s stock.

Institutional Trading of GitLab

Large investors have recently made changes to their positions in the company. Future Financial Wealth Managment LLC bought a new stake in shares of GitLab in the 3rd quarter valued at $52,000. True Wealth Design LLC bought a new stake in shares of GitLab in the 3rd quarter valued at $56,000. Rakuten Securities Inc. increased its position in shares of GitLab by 268.1% in the 3rd quarter. Rakuten Securities Inc. now owns 1,417 shares of the company’s stock valued at $73,000 after buying an additional 1,032 shares in the last quarter. Quarry LP boosted its stake in GitLab by 527.0% in the 2nd quarter. Quarry LP now owns 1,787 shares of the company’s stock worth $89,000 after purchasing an additional 1,502 shares during the period. Finally, Capital Performance Advisors LLP acquired a new position in GitLab in the 3rd quarter worth $96,000. Institutional investors own 91.72% of the company’s stock.

GitLab Company Profile

GitLab Inc, through its subsidiaries, develops software for the software development lifecycle in the United States, Europe, and the Asia Pacific. It offers GitLab, a DevOps platform, which is a single application that leads to faster cycle time and allows visibility throughout and control over various stages of the DevOps lifecycle.