The stock of Gitlab Inc (NASDAQ: GTLB) has decreased by -1.05 when compared to last closing price of 55.43.Despite this, the company has seen a gain of 0.79% in its stock price over the last five trading days. accesswire.com reported 2024-10-22 that NEW YORK, NY / ACCESSWIRE / October 22, 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=109305&wire=1 or contact Joseph E. Levi, Esq.
Is It Worth Investing in Gitlab Inc (NASDAQ: GTLB) Right Now?
The 36-month beta value for GTLB is at 0.47. Analysts have varying views on the stock, with 17 analysts rating it as a “buy,” 6 rating it as “overweight,” 6 as “hold,” and 0 as “sell.”
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The public float for GTLB is 116.40M, and currently, shorts hold a 2.70% of that float. The average trading volume for GTLB on October 23, 2024 was 1.92M shares.
GTLB’s Market Performance
The stock of Gitlab Inc (GTLB) has seen a 0.79% increase in the past week, with a 3.14% rise in the past month, and a 5.56% gain in the past quarter. The volatility ratio for the week is 3.25%, and the volatility levels for the past 30 days are at 3.18% for GTLB. The simple moving average for the past 20 days is 4.35% for GTLB’s stock, with a -1.00% simple moving average for the past 200 days.
Analysts’ Opinion of GTLB
Many brokerage firms have already submitted their reports for GTLB stocks, with Needham repeating the rating for GTLB by listing it as a “Buy.” The predicted price for GTLB in the upcoming period, according to Needham is $70 based on the research report published on October 21, 2024 of the current year 2024.
Morgan Stanley, on the other hand, stated in their research note that they expect to see GTLB reach a price target of $70. The rating they have provided for GTLB stocks is “Overweight” according to the report published on October 09th, 2024.
BofA Securities gave a rating of “Buy” to GTLB, setting the target price at $66 in the report published on August 27th of the current year.
GTLB Trading at 7.75% 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 -30.15% of loss for the given period.
Volatility was left at 3.18%, however, over the last 30 days, the volatility rate increased by 3.25%, as shares surge +3.32% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +30.63% upper at present.
During the last 5 trading sessions, GTLB rose by +0.79%, which changed the moving average for the period of 200-days by -3.77% in comparison to the 20-day moving average, which settled at $52.56. In addition, Gitlab Inc saw -12.88% 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 BLASING KAREN, who sale 3,250 shares at the price of $54.72 back on Oct 15 ’24. After this action, BLASING KAREN now owns 141,233 shares of Gitlab Inc, valued at $177,840 using the latest closing price.
Sijbrandij Sytse, the Chief Executive Officer of Gitlab Inc, sale 56,000 shares at $54.68 during a trade that took place back on Oct 15 ’24, which means that Sijbrandij Sytse is holding 0 shares at $3,062,174 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 12.58. 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
In conclusion, Gitlab Inc (GTLB) has had a better performance lately. Opinion on the stock among analysts is mixed, with some giving it a “buy” rating and others a “hold”. 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.
