GitLab Inc. (GTLB)
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GitLab Inc. (GTLB) Q1 2025 Earnings Call Transcript
GitLab Inc. (NASDAQ:GTLB ) Q1 2025 Earnings Conference Call June 3, 2024 4:30 PM ET Company Participants Kelsey Turcotte - VP, IR Sid Sijbrandij - Co-Founder and CEO Brian Robins - CFO Conference Call Participants Matthew Hedberg - RBC Capital Markets Ryan MacWilliams - Barclays Jason Ader - William Blair & Company Nick Altmann - Scotiabank Karl Keirstead - UBS Joel Fishbein - Truist Securities Kash Rangan - Goldman Sachs Ethan Drake Weeks - Piper Sandler Koji Ikeda - Bank of America Securities Michael Turrin - Wells Fargo Pinjalim Bora - JPMorgan Adam Tindle - Raymond James Derrick Wood - TD Cowen Jason Celino - KeyBanc Mike Cikos - Needham & Company Operator Greetings and welcome to the GitLab First Quarter Fiscal Year 2025 Earnings Conference Call. At this time, all participants are in a listen-only mode.
GitLab Inc. (GTLB) Tops Q1 Earnings and Revenue Estimates
GitLab Inc. (GTLB) came out with quarterly earnings of $0.03 per share, beating the Zacks Consensus Estimate of a loss of $0.04 per share. This compares to loss of $0.06 per share a year ago.
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Foundations Investment Advisors LLC Invests $274,000 in GitLab Inc. (NASDAQ:GTLB)
Foundations Investment Advisors LLC acquired a new stake in shares of GitLab Inc. (NASDAQ:GTLB – Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 4,358 shares of the company’s stock, valued at approximately $274,000. Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Bank of New York Mellon Corp boosted its position in shares of GitLab by 23.8% during the 3rd quarter. Bank of New York Mellon Corp now owns 500,196 shares of the company’s stock valued at $22,619,000 after acquiring an additional 96,322 shares during the last quarter. Panagora Asset Management Inc. purchased a new stake in shares of GitLab during the 3rd quarter valued at $1,876,000. Teacher Retirement System of Texas grew its position in GitLab by 10.7% in the third quarter. Teacher Retirement System of Texas now owns 5,602 shares of the company’s stock worth $253,000 after acquiring an additional 542 shares in the last quarter. Principal Financial Group Inc. lifted its stake in GitLab by 86.0% during the third quarter. Principal Financial Group Inc. now owns 10,856 shares of the company’s stock worth $491,000 after purchasing an additional 5,018 shares during the last quarter. Finally, Capula Management Ltd purchased a new position in shares of GitLab in the 3rd quarter worth about $495,000. 91.72% of the stock is currently owned by hedge funds and other institutional investors. Analyst Ratings Changes GTLB has been the topic of a number of research reports. Sanford C. Bernstein raised their price objective on GitLab from $71.00 to $76.00 and gave the company an “outperform” rating in a report on Tuesday, March 5th. Royal Bank of Canada restated an “outperform” rating and issued a $80.00 price objective on shares of GitLab in a report on Tuesday, March 5th. Mizuho reduced their target price on shares of GitLab from $75.00 to $70.00 and set a “buy” rating on the stock in a report on Friday. TD Cowen lowered their price target on shares of GitLab from $80.00 to $76.00 and set an “outperform” rating for the company in a research note on Tuesday, March 5th. Finally, Truist Financial reaffirmed a “buy” rating and set a $80.00 price objective on shares of GitLab in a research note on Monday, April 1st. Three analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $70.50. Read Our Latest Analysis on GitLab GitLab Stock Down 0.4 % GitLab stock opened at $56.26 on Monday. GitLab Inc. has a fifty-two week low of $31.56 and a fifty-two week high of $78.53. The stock’s 50 day simple moving average is $55.71 and its two-hundred day simple moving average is $59.43. GitLab (NASDAQ:GTLB – Get Free Report) last posted its quarterly earnings data on Monday, March 4th. The company reported $0.15 EPS for the quarter, topping the consensus estimate of $0.08 by $0.07. The business had revenue of $163.80 million for the quarter, compared to analyst estimates of $157.89 million. GitLab had a negative net margin of 73.14% and a negative return on equity of 18.26%. GitLab’s quarterly revenue was up 33.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.26) earnings per share. Sell-side analysts forecast that GitLab Inc. will post -0.96 earnings per share for the current year. Insider Buying and Selling In other GitLab news, CAO Erin Mannix sold 958 shares of the stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $59.53, for a total transaction of $57,029.74. Following the sale, the chief accounting officer now directly owns 74,908 shares in the company, valued at approximately $4,459,273.24. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other GitLab news, insider Robin Schulman sold 2,425 shares of the business’s stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $58.75, for a total transaction of $142,468.75. Following the completion of the sale, the insider now directly owns 55,150 shares in the company, valued at approximately $3,240,062.50. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CAO Erin Mannix sold 958 shares of the firm’s stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $59.53, for a total value of $57,029.74. Following the completion of the transaction, the chief accounting officer now owns 74,908 shares in the company, valued at $4,459,273.24. The disclosure for this sale can be found here. Insiders sold a total of 433,383 shares of company stock worth $23,632,528 in the last three months. Insiders own 21.36% of the company’s stock. GitLab Profile (Free Report) GitLab Inc, through its subsidiaries, develops software for the software development lifecycle in the United States, Europe, and the Asia Pacific. It offers GitLab, a DevOps platform, which is a single application that leads to faster cycle time and allows visibility throughout and control over various stages of the DevOps lifecycle.
