Gitlab, Inc. Class A (GTLB)
NASDAQ:GTLB
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Gitlab
(NASDAQ:GTLB)
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Rating:67Neutral
Price Target:
$34.00
▲(58.73% Upside)
Action:Reiterated
Date:05/30/26
The score is driven primarily by improving fundamentals—strong revenue scale-up, very high gross margins, and meaningful positive free cash flow—plus a low-risk balance sheet. Offsetting this are continued GAAP losses (negative P/E), conservative FY'27 guidance with expected deceleration and margin pressure, and overbought technical conditions that increase near-term pullback risk.
Positive Factors
Scale: ARR > $1B and multi-year revenue growth
Crossing $1B ARR marks a durable scale inflection for a seat-based DevSecOps vendor. Larger ARR improves revenue visibility, supports multi-year contract expansion, enables bigger enterprise deals and creates operating leverage in sales and product investment, underpinning sustainable growth.
Negative Factors
GAAP profitability still negative
Ongoing GAAP losses mean shareholder returns depend on converting strong cash flow and revenue scale into reported profits. Until operating income turns sustainably positive, return metrics (ROE, ROIC) remain negative, limiting confidence in long-term capital allocation and true economic profitability.
Read all positive and negative factors
Positive Factors
Negative Factors
Scale: ARR > $1B and multi-year revenue growth
Crossing $1B ARR marks a durable scale inflection for a seat-based DevSecOps vendor. Larger ARR improves revenue visibility, supports multi-year contract expansion, enables bigger enterprise deals and creates operating leverage in sales and product investment, underpinning sustainable growth.
Read all positive factors
Gitlab Key Performance Indicators (KPIs)
Any
Revenue by Geography
Breaks down revenue across different regions, revealing where the company is strongest and where it may face risk or growth potential due to local economic conditions or market share shifts.
Breaks down revenue across different regions, revealing where the company is strongest and where it may face risk or growth potential due to local economic conditions or market share shifts.
Data provided by:
The Fly
The FlyGitlab (GTLB) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$4.72B
Dividend YieldN/A
Average Volume (3M)5.42M
Price to Earnings (P/E)―
Beta (1Y)1.41
Revenue Growth25.81%
EPS Growth-2156.00%
CountryUS
Employees2,375
SectorTechnology
Sector Strength88
IndustrySoftware - Application
Share Statistics
EPS (TTM)-0.34
Shares Outstanding152,478,440
10 Day Avg. Volume4,651,097
30 Day Avg. Volume5,419,193
Financial Highlights & Ratios
PEG Ratio-0.13
Price to Book (P/B)5.85
Price to Sales (P/S)6.07
P/FCF Ratio26.12
Enterprise Value/Market Cap0.95
Enterprise Value/Revenue4.70
Enterprise Value/Gross Profit5.38
Enterprise Value/Ebitda-75.87
Forecast
1Y Price Target
$31.39Price Target Upside46.54% Upside
Rating ConsensusHold
Number of Analyst Covering23
EPS Forecast (FY)0.8
Revenue Forecast (FY)$1.11B
Gitlab Business Overview & Revenue Model
Company Description
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 cy...
How the Company Makes Money
GitLab primarily makes money by selling subscriptions to its DevSecOps platform. Revenue is largely recurring and driven by tiered, per-user (seat-based) subscriptions that provide access to progressively more advanced capabilities (e.g., CI/CD, s...
Gitlab Earnings Call Summary
Earnings Call Date:Mar 03, 2026
(Q4-2026)
| % Change Since: |
Next Earnings Date:Jun 02, 2026
Earnings Call Sentiment Neutral
The call presented a mix of strong operational and financial achievements—ARR > $1B, record net new ARR, large-account expansion, significant free cash flow growth, high retention metrics, SaaS growth, product momentum with Duo Agent Platform and a $400M buyback—alongside material near-term headwinds. Management set conservative FY'27 guidance (15%–17% revenue growth) due to ratable model mechanics, nonrecurring FY'26 tailwinds, continued pressure in a ~20% price-sensitive cohort, public sector and U.S. softness, and the expectation that Duo Agent Platform will contribute minimally to FY'27 revenue while investments compress margins. Overall the company emphasizes execution and multi-quarter investments to reaccelerate growth, but the guidance and cohort weaknesses temper the positive fundamentals.Positive Updates
ARR Surpassed $1 Billion
Annual recurring revenue (ARR) exceeded $1.0 billion in FY'26, marking a major milestone and scale inflection for the business.
Negative Updates
Conservative FY'27 Revenue Guidance
FY'27 revenue guidance of $1.099 billion to $1.118 billion implies ~15% to 17% year-over-year growth (down from FY'26's 26% growth), reflecting a meaningful deceleration embedded in the outlook.
Read all updates
Q4-2026 Updates
Positive
Negative
ARR Surpassed $1 Billion
Annual recurring revenue (ARR) exceeded $1.0 billion in FY'26, marking a major milestone and scale inflection for the business.
Read all positive updates
Company Guidance
GitLab guided Q1 FY‑27 revenue of $253–$255M (~18–19% YoY), non‑GAAP operating income of $32–$34M and non‑GAAP EPS of $0.20–$0.21 (assuming ~173M diluted shares); for FY‑27 it guided revenue of $1.099–$1.118B (~15–17% YoY), non‑GAAP operating income of $129–$137M and non‑GAAP EPS of $0.76–$0.80 (assuming ~175M diluted shares), with full‑year gross margin of 85–87% (vs. 89% in FY‑26). Management said the guide strips ~300 bps of FY‑26 nonrecurring tailwinds, assumes minimal Duo Agent Platform revenue in FY‑27, expects the price‑sensitive cohort (~20% of ARR) to remain pressured, that ~70% of revenue is self‑managed (implying a multi‑quarter upgrade/adoption ramp), modeled JiHu expenses of ~$15M (vs. $13M last year), and assumed stable quarter‑to‑quarter growth rates across Q2–Q4.Gitlab Financial Statement Overview
Summary
Income Statement
62
Positive
Balance Sheet
74
Positive
Cash Flow
81
Very Positive
| Breakdown | Jan 2026 | Jan 2025 | Jan 2024 | Jan 2023 | Jan 2022 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 955.22M | 759.25M | 579.91M | 424.34M | 252.65M |
| Gross Profit | 834.48M | 674.11M | 520.20M | 372.66M | 222.67M |
| EBITDA | -59.14M | -131.73M | -180.91M | -205.82M | -127.75M |
| Net Income | -55.96M | -6.33M | -425.68M | -173.41M | -155.14M |
Balance Sheet | |||||
| Total Assets | 1.72B | 1.40B | 1.32B | 1.17B | 1.09B |
| Cash, Cash Equivalents and Short-Term Investments | 1.26B | 992.38M | 1.04B | 936.65M | 934.70M |
| Total Debt | 0.00 | 392.00K | 410.00K | 1.13M | 0.00 |
| Total Liabilities | 686.50M | 577.96M | 715.01M | 344.48M | 292.17M |
| Stockholders Equity | 990.67M | 775.91M | 559.77M | 771.02M | 774.87M |
Cash Flow | |||||
| Free Cash Flow | 222.03M | -67.74M | 33.44M | -83.48M | -53.35M |
| Operating Cash Flow | 232.86M | -63.97M | 35.04M | -77.41M | -49.81M |
| Investing Cash Flow | -267.29M | -30.49M | -86.24M | -543.96M | -27.45M |
| Financing Cash Flow | 34.81M | 32.62M | 45.23M | 35.76M | 674.74M |
Gitlab Technical Analysis
Positive
21.42
Price Trends
23.07
Positive
26.69
Positive
35.54
Negative
Market Momentum
1.44
Negative
72.99
Negative
92.26
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For GTLB, the sentiment is Positive. The current price of 21.42 is below the 20-day moving average (MA) of 25.43, below the 50-day MA of 23.07, and below the 200-day MA of 35.54, indicating a neutral trend. The MACD of 1.44 indicates Negative momentum. The RSI at 72.99 is Negative, neither overbought nor oversold. The STOCH value of 92.26 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for GTLB.
Gitlab Risk Analysis
Gitlab disclosed 66 risk factors in its most recent earnings report. Gitlab reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
Gitlab Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
79 Outperform | $5.96B | 18.34 | 37.43% | ― | 17.26% | ― | |
73 Outperform | $3.96B | 33.64 | 10.69% | ― | 25.42% | 125.90% | |
69 Neutral | $5.66B | 17.70 | 50.21% | 0.16% | 3.50% | 75.14% | |
68 Neutral | $420.42M | -11.62 | -19.29% | ― | 12.27% | 37.41% | |
67 Neutral | $4.72B | -92.00 | -6.24% | ― | 25.81% | -2156.00% | |
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% | |
47 Neutral | $3.74B | -26.12 | -12.16% | ― | 31.25% | 56.23% |
* Technology Sector Average
GTLB
Gitlab
31.05
-14.46
-31.77%
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KC
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MNDY
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Gitlab Corporate Events
Business Operations and StrategyRegulatory Filings and Compliance
GitLab Executive Chair Converts Class B to Class A
Neutral
May 19, 2026
GitLab Inc. disclosed that Executive Chair Sytse Sijbrandij converted all of his Class B common stock, which carried 10 votes per share, into Class A common stock with one vote per share on May 14, 2026, a change reported in a Form 4 filed on May ...
Business Operations and StrategyFinancial Disclosures
GitLab Restructures Workforce to Embrace Agentic AI Era
Negative
May 11, 2026
On May 11, 2026, GitLab announced a restructuring and reduction in force designed to realign its operating structure and support its strategy for the emerging “agentic” AI era. The plan includes shrinking its geographic footprint by ex...
Executive/Board Changes
GitLab Announces Board Change and Committee Reassignment
Neutral
Apr 16, 2026
On April 13, 2026, GitLab Inc. announced that board member Merline Saintil notified the company of her decision to step down from the board and from its Compensation and Leadership Development Committee, effective April 15, 2026, with the company ...
Business Operations and StrategyStock BuybackFinancial Disclosures
GitLab Announces Strong Q4 Results and Share Buyback
Positive
Mar 3, 2026
On March 3, 2026, GitLab reported fourth-quarter fiscal 2026 revenue of $260.4 million, up 23% year-over-year, with a GAAP operating margin of -2% and non-GAAP operating margin of 21%, and operating cash flow of $45.8 million. For the full fiscal ...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.