Moreover, the 36-month beta value for GTLB is 0.42. Analysts have varying opinions on the stock, with 15 analysts rating it as a “buy,” 5 as “overweight,” 6 as “hold,” and 0 as “sell.”
The public float for GTLB is 120.09M and currently, short sellers hold a 3.45% of that float. On September 17, 2024, GTLB’s average trading volume was 2.56M shares.
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GTLB) stock’s latest price update
Gitlab Inc (NASDAQ: GTLB)’s stock price has decreased by -3.21 compared to its previous closing price of 54.49. However, the company has seen a -1.42% decrease in its stock price over the last five trading sessions. accesswire.com reported 2024-09-16 that NEW YORK, NY / ACCESSWIRE / September 16, 2024 / If you suffered a loss on your GitLab Inc. (NASDAQ:GTLB) investment and want to learn about a potential recovery under the federal securities laws, follow the link below for more information: https://zlk.com/pslra-1/gitlab-lawsuit-submission-form?prid=103085&wire=1 or contact Joseph E. Levi, Esq.
GTLB’s Market Performance
Gitlab Inc (GTLB) has seen a -1.42% fall in stock performance for the week, with a 17.72% gain in the past month and a 18.49% surge in the past quarter. The volatility ratio for the week is 3.73%, and the volatility levels for the past 30 days are at 3.91% for GTLB. The simple moving average for the past 20 days is 5.91% for GTLB’s stock, with a -6.40% simple moving average for the past 200 days.
Analysts’ Opinion of GTLB
Many brokerage firms have already submitted their reports for GTLB stocks, with BofA Securities repeating the rating for GTLB by listing it as a “Buy.” The predicted price for GTLB in the upcoming period, according to BofA Securities is $66 based on the research report published on August 27, 2024 of the current year 2024.
Robert W. Baird, on the other hand, stated in their research note that they expect to see GTLB reach a price target of $59. The rating they have provided for GTLB stocks is “Outperform” according to the report published on August 27th, 2024.
Raymond James gave a rating of “Outperform” to GTLB, setting the target price at $70 in the report published on April 12th of the current year.
GTLB Trading at 6.78% from the 50-Day Moving Average
After a stumble in the market that brought GTLB to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -32.84% of loss for the given period.
Volatility was left at 3.91%, however, over the last 30 days, the volatility rate increased by 3.73%, as shares surge +16.14% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +0.30% upper at present.
During the last 5 trading sessions, GTLB fell by -1.42%, which changed the moving average for the period of 200-days by +10.80% in comparison to the 20-day moving average, which settled at $50.16. In addition, Gitlab Inc saw -16.23% in overturn over a single year, with a tendency to cut further losses.
Insider Trading
Reports are indicating that there were more than several insider trading activities at GTLB starting from SYTSE SIJBRANDIJ REVOCABLE TRU, who proposed sale 140,000 shares at the price of $54.49 back on Sep 16 ’24. After this action, SYTSE SIJBRANDIJ REVOCABLE TRU now owns shares of Gitlab Inc, valued at $7,628,600 using the latest closing price.
ROBINS BRIAN G, the Chief Financial Officer of Gitlab Inc, sale 16,668 shares at $53.67 during a trade that took place back on Sep 09 ’24, which means that ROBINS BRIAN G is holding 250,109 shares at $894,576 based on the most recent closing price.
Stock Fundamentals for GTLB
Current profitability levels for the company are sitting at:
- -0.24 for the present operating margin
- 0.89 for the gross margin
The net margin for Gitlab Inc stands at -0.55. The total capital return value is set at -0.23. Equity return is now at value -50.94, with -28.33 for asset returns.
Based on Gitlab Inc (GTLB), the company’s capital structure generated 0.0 points at debt to capital in total, while cash flow to debt ratio is standing at 212.12. The debt to equity ratio resting at 0.0. The interest coverage ratio of the stock is -22.22.
Currently, EBITDA for the company is -172.88 million with net debt to EBITDA at 2.87. When we switch over and look at the enterprise to sales, we see a ratio of 12.06. The receivables turnover for the company is 4.03for trailing twelve months and the total asset turnover is 0.48. The liquidity ratio also appears to be rather interesting for investors as it stands at 1.92.
Conclusion
To wrap up, the performance of Gitlab Inc (GTLB) has been mixed in recent times. The stock has received a mixed of “buy” and “hold” ratings from analysts. It’s important to note that the stock is currently trading at a significant distance from its 50-day moving average and its 52-week high.
