Stocks of Gitlab Inc (NASDAQ:GTLB) traded higher last session on Wall Street, up 2.76% to $55.85.
GTLB stock price is now 14.70% away from the 50-day moving average and -0.41% away from the 200-day moving average. The market capitalization of the company currently stands at $8.75B.
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With the price target reduced from $80 to $66, BofA Securities maintained Buy rating for Gitlab Inc (NASDAQ: GTLB). On August 27, 2024, Robert W. Baird recently initiated its ‘Outperform’ rating on the stock quoting a target price of $59, while ‘Raymond James’ rates the stock as ‘Outperform’
In other news, BLASING KAREN, Director sold 3,250 shares of the company’s stock on Aug 16 ’24. The stock was sold for $146,250 at an average price of $45.00. Upon completion of the transaction, the Director now directly owns 147,733 shares in the company, valued at $8.25 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Aug 16 ’24, Director KAREN BLASING bought 10,930 shares of the business’s stock. A total of $489,664 was incurred on buying the stock at an average price of $44.80. A total of 25.48% 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 1.92, and a quick ratio of 1.92. The fifty day moving average price for GTLB is $48.6928 and a two-hundred day moving average price translates $56.07755 for the stock.
The latest earnings results from Gitlab Inc (NASDAQ: GTLB) was released for 2024-07-31. The net profit margin was -54.62% and return on equity was -50.94% for GTLB. The company reported revenue of $182.58 million for the quarter, compared to $139.58 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 30.81 percent.
