Is GTLB Stock a Buy After Earnings? 3 Analysts Weigh In on GitLab Prices.

The shares of GitLab (NASDAQ:GTLB) are climbing 10% after the tech company reported stronger-than-expected fourth-quarter results. The firm’s guidance, which was above analysts’ average outlook, is also boosting GTLB stock.

The GitLab (GTLB) logo on an iPhone screen.
Source: Lori Butcher / Shutterstock.com

San Francisco-based GitLab develops tools used to create and deploy software. Yesterday after the market closed, it reported an adjusted loss per share of 16 cents, versus an adjusted loss of 46 cents during the same period a year earlier. GitHub’s revenue jumped 69% year-over-year to $77.8 million.

Analysts, on average, had predicted Q4 sales of $70.3 million and an adjusted, per-share loss of 25 cents.

For the current quarter, GitLab expects its adjusted, per-share loss to be between 28 cents and 27 cents and predicts that its sales will be $77 million to $78 million. Analysts’ mean estimate had called for a per-share loss of 30 cents and $72.8 million of revenue.

GTLB Stock Price Predictions

  1. JPMorgan Chase has a “buy” rating and a $99 price target on GTLB stock, implying 180% upside from current levels.
  2. Bank of America has a “buy” rating and a $105 price target, which would be 200% higher than where the stock currently trades.
  3.  RBC Capital has a “buy” rating and a $60 price target, which would be 70% higher than where the stock currently trades.

What’s Next for GitLab

Among  six analysts who cover GTLB stock, the average price target is $82.33, 130% above the current price level.

Investors should keep in mind that many of the analysts’ ratings were made before GitLab issued its latest quarterly results. They may now be revising their forecasts up in the wake of the stronger-than-expected results and guidance. It does appear that all of the analysts who follow GitLab expect its stock to rally sharply over the next year. Right now, the consensus view is that the shares are a “strong buy.”

On the date of publication, Larry Ramer did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.

Larry Ramer has conducted research and written articles on U.S. stocks for 15 years. He has been employed by The Fly and Israel’s largest business newspaper, Globes. Larry began writing columns for InvestorPlace in 2015. Among his highly successful, contrarian picks have been GE, solar stocks, and Snap. You can reach him on StockTwits at @larryramer.


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