Analysts painted sharp upside to GitLab Inc. post strong Q4 results that included a notable top-line beat and FY23 guidance ahead of Street expectations. Truist analyst Joel Fishbein lowered the PT to $105 from $175 (217.2 percent upside) and kept a Buy, citing the change in discount rate assumptions since the IPO. KeyBanc analyst Michael Turits lowered the PT to $50…
Here’s Why RBC Capital Sees Sharp Upside in GitLab
RBC Capital analyst Matthew Hedberg upgraded GitLab Inc. to Outperform from Sector Perform with an unchanged $90 price target, suggesting a 35 percent upside. The analyst cites the stock’s “more reasonable valuation” after a pullback in price. Hedberg adds that he remains bullish on GitLab taking a significant share in the estimated $40 billion DevSecOps market, as its…
Piper Sandler Upgrades GitLab, Sees 45 Percent Upside
Piper Sandler analyst Rob Owens upgraded GitLab Inc. to Overweight from Neutral with an unchanged price target of $100, suggesting a 45.2 percent upside. Many of the demand drivers that positively impacted cybersecurity spending in 2021 remain in play as we enter 2022, Owens tells investors in a research note. Add to that a “relatively optimistic” IT spending…
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