Wall Street brokerages expect GitLab Inc. (NASDAQ:GTLB – Get Rating) to post sales of $77.64 million for the current fiscal quarter, according to Zacks. Five analysts have issued estimates for GitLab’s earnings, with estimates ranging from $77.10 million to $78.00 million. The company is expected to issue its next earnings report after the market closes on Monday, January 1st.
According to Zacks, analysts expect that GitLab will report full year sales of $388.48 million for the current year, with estimates ranging from $386.60 million to $390.50 million. For the next fiscal year, analysts forecast that the firm will report sales of $539.93 million, with estimates ranging from $525.70 million to $559.70 million. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that cover GitLab.
GitLab (NASDAQ:GTLB – Get Rating) last released its quarterly earnings results on Monday, March 14th. The company reported ($0.25) EPS for the quarter, beating the consensus estimate of ($0.32) by $0.07. The business had revenue of $77.80 million during the quarter, compared to analyst estimates of $70.18 million.
In related news, major shareholder 2021 Gp L.L.C. Gv bought 255,647 shares of the company’s stock in a transaction that occurred on Tuesday, May 10th. The shares were acquired at an average cost of $34.65 per share, for a total transaction of $8,858,168.55. Following the acquisition, the insider now owns 479,695 shares in the company, valued at approximately $16,621,431.75. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link.
A number of large investors have recently bought and sold shares of GTLB. ICONIQ Capital LLC increased its position in shares of GitLab by 252.2% during the first quarter. ICONIQ Capital LLC now owns 9,773,455 shares of the company’s stock worth $532,164,000 after acquiring an additional 6,998,187 shares during the last quarter. BlackRock Inc. boosted its holdings in GitLab by 13.1% in the first quarter. BlackRock Inc. now owns 2,821,575 shares of the company’s stock valued at $153,635,000 after purchasing an additional 327,244 shares during the last quarter. Coatue Management LLC acquired a new stake in GitLab during the 4th quarter valued at approximately $169,817,000. T Ventures Management Co Ltd. purchased a new stake in GitLab during the 4th quarter worth approximately $132,913,000. Finally, Marcho Partners LLP raised its position in shares of GitLab by 9.7% in the 1st quarter. Marcho Partners LLP now owns 1,266,640 shares of the company’s stock valued at $68,969,000 after purchasing an additional 112,018 shares in the last quarter. 21.30% of the stock is owned by institutional investors.
GTLB stock opened at $38.33 on Thursday. The company’s 50 day simple moving average is $46.83 and its 200-day simple moving average is $63.69. GitLab has a 12 month low of $30.74 and a 12 month high of $137.00.
About GitLab (Get Rating)
GitLab Inc, through its subsidiaries, develops software for the software development lifecycle in the United States, Europe, and the Asia Pacific. The company 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.
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