Stocks of Gitlab Inc (NASDAQ:GTLB) traded higher last session on Wall Street, down -4.30% to $53.01.
GTLB stock price is now 5.57% away from the 50-day moving average and -4.66% away from the 200-day moving average. The market capitalization of the company currently stands at $8.42B.
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With the price target maintained at $70, Raymond James recently Upgraded its rating from Mkt Perform to Outperform for Gitlab Inc (NASDAQ: GTLB). On April 09, 2024, Wells Fargo recently initiated its ‘Overweight’ rating on the stock quoting a target price of $70, while ‘CapitalOne’ rates the stock as ‘Overweight’
In other news, BLASING KAREN, Director sold 4,430 shares of the company’s stock on Jul 17 ’24. The stock was sold for $249,188 at an average price of $56.25. Upon completion of the transaction, the Director now directly owns 150,983 shares in the company, valued at $8.0 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Jul 17 ’24, Chief Legal Officer & Corp Sec Schulman Robin sold 2,402 shares of the business’s stock. A total of $135,112 was realized by selling the stock at an average price of $56.25. This leaves the insider owning 142,933 shares of the company worth $7.58 million. A total of 26.59% of the company’s stock is owned by insiders.
During the past 12 months, Gitlab Inc has had a low of $40.19 and a high of $78.53. As of last week, the company has a debt-to-equity ratio of 0.00, a current ratio of 1.83, and a quick ratio of 1.83. The fifty day moving average price for GTLB is $50.0086 and a two-hundred day moving average price translates $56.1526 for the stock.
The latest earnings results from Gitlab Inc (NASDAQ: GTLB) was released for 2024-04-30. The net profit margin was -68.52% and return on equity was -63.95% for GTLB. The company reported revenue of $169.19 million for the quarter, compared to $126.88 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 33.35 percent.
