Bank of America Securities Sticks to Their Buy Rating for Gitlab (GTLB)
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According to TipRanks, Ikeda is a 5-star analyst with an average return of 12.5% and a 58.54% success rate. Ikeda covers the Technology sector, focusing on stocks such as Datadog, Gitlab, and nCino.
Gitlab has an analyst consensus of Strong Buy, with a price target consensus of $61.48, which is a 39.03% upside from current levels. In a report released on July 15, Rosenblatt Securities also initiated coverage with a Buy rating on the stock with a $58.00 price target.
Based on Gitlab's latest earnings release for the quarter ending April 30, the company reported a quarterly revenue of $214.51 million and a GAAP net loss of $35.88 million. In comparison, last year the company earned a revenue of $169.19 million and had a GAAP net loss of $54.64 million
Based on the recent corporate insider activity of 76 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of GTLB in relation to earlier this year. Last month, Matthew Jacobson, a Director at GTLB sold 129,400.00 shares for a total of $5,476,208.00.
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