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