Susan L. Bostrom, director at GitLab Inc. (NASDAQ:GTLB), recently sold 20,000 shares of the company’s Class A stock. GitLab, currently valued at $9.7 billion, maintains strong financial health with a solid balance sheet and an impressive gross margin of 89%. The shares were sold at an average price of $60.19, for a total transaction value of approximately $1.2 million. After this sale, Bostrom retains ownership of 204,913 shares. The transaction was completed on December 24, 2024, according to a recent SEC filing. Shares were traded at prices ranging from $60.04 to $60.35. According to InvestingPro data, 24 analysts revised their earnings upward for the upcoming period, with price targets ranging from $65 to $90.
In other recent news, GitLab Inc is receiving positive attention from various investment firms due to its robust financial results. GitLab’s third quarter results showed revenue growth of 32.4% and a significant increase in profits, with operating margins reaching a record 13%. Macquarie initiated coverage on shares of GitLab with an Outperform rating and a $90.00 target price, highlighting GitLab’s strong position in the DevSecOps tools market. TD Cowen raised its price target to $82 from $70, reiterating its buy rating on the stock following GitLab’s strong third-quarter performance.
Piper Sandler increased their target price from $75.00 to $85.00, maintaining an Overweight rating on the stock, while KeyBanc Capital Markets adjusted their target price to $80.00 from $74.00, reiterating an Overweight rating. Baird also raised their price target on shares of GitLab from $62.00 to $75.00, while maintaining an Outperform rating.
These recent developments point to a strong growth trajectory for GitLab, with firms such as Macquarie, TD Cowen, Piper Sandler, KeyBanc Capital Markets and Baird expressing confidence in the company’s future. However, these are recent developments and may be subject to change.
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