Gitlab Inc (NASDAQ:GTLB) price on current trading day, rose 2.94% above its previous day’s close as an upside momentum from buyers pushed the stock’s value to $67.98.
A look at the stock’s price movement, the level at last check in today’s session was $66.04, moving within a range at $65.78 and $73.0. The beta value (5-Year monthly) was 0.447. Turning to its 52-week performance, $78.53 and $40.72 were the 52-week high and 52-week low respectively. Overall, GTLB moved 12.90% over the past month.
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Gitlab Inc’s market cap currently stands at around $10.91 billion, with investors looking forward to this quarter’s earnings report slated for in January.
Analysts have a consensus estimate of 206.77M for the company’s revenue for the quarter, with a low and high estimate of 205.4M and 214.79M respectively. The average forecast suggests up to a 26.25% growth in sales growth compared to quarterly growth in the same period last fiscal year. Wall Street analysts have also projected the company’s year-on-year revenue to grow to 754.34M, representing a 30.08% jump on that reported in the last financial year.
Turning to the stock’s technical picture we see that short term indicators suggest on average that GTLB is a 100% Buy. On the other hand, the stock is on average a 100% Buy as suggested by medium term indicators while long term indicators are putting the stock in 50% Buy category.
21 analyst(s) have given their forecast ratings for the stock on a scale of 1.00-5.00 for a strong buy to strong sell recommendation. A total of 5 analyst(s) rate the stock as a Hold, 16 recommend GTLB as a Buy and 0 give it an Overweight rating. Meanwhile, 0 analyst(s) rate the stock as Underweight and 0 say it is a Sell. As such, the average rating for the stock is Buy which could provide an opportunity for investors keen on increasing their holdings of the company’s stock.
GTLB’s current price about 7.50% and 17.84% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 69.97, while 7-day volatility ratio is 2.89% and 3.96% in the 30-day chart. Further, Gitlab Inc (GTLB) has a beta value of 0.54, and an average true range (ATR) of 2.86. Analysts have given the company’s stock an average 52-week price target of $62.5, forecast between a low of $55 and high of $75. Looking at the price targets, the low is 19.09% off recent price level in today’s trading while to achieve the yearly target high, it has to move -10.33%. Nonetheless, investors will most likely welcome a 8.06% jump to $62.5 which is the analysts’ median price.
If we refocus on Gitlab Inc (NASDAQ:GTLB), historical trading data shows that trading volumes averaged 2.8 over the past 10 days and 1.73 million over the past 3 months. The company’s latest data on shares outstanding shows there are 136.46 million shares.
The 25.11% of Gitlab Inc’s shares are in the hands of company insiders while institutional holders own 62.91% of the company’s shares. Also important is the data on short interest which shows that short shares stood at 4.89 million on 2024-11-15, giving us a short ratio of 3.33. The data shows that as of 2024-11-15 short interest in Gitlab Inc (GTLB) stood at 386.99999999999994 of shares outstanding, with shares short rising to 3.4 million registered in 2024-10-15. Current price change has pushed the stock 7.97% YTD, which shows the potential for further growth is there. It is this reason that could see investor optimism for the GTLB stock continues to rise going into the next quarter.
