Morgan Stanley raised the firm’s price target on GitLab (GTLB) to $77 from $70 and keeps an Overweight rating on the shares. Q3 revenue topped consensus by 4%, resulting in sustained 31% revenue growth, while Q4 guidance of 25%-26% was slightly ahead of expectations, the analyst tells investors in a post-earnings note. The firm sees mid-20% growth “proving durable,” which should translate to 40%-plus compound annual growth in free cash flow through calendar year 2027, the analyst added.
Don't Miss our Black Friday Offers:
- Unlock your investing potential with TipRanks Premium - Now At 40% OFF!
- Make smarter investments with weekly expert stock picks from the Smart Investor Newsletter
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See Insiders’ Hot Stocks on TipRanks >>
Read More on GTLB:
- GitLab price target raised to $80 from $75 at Cantor Fitzgerald
- GitLab price target raised to $78 from $65 at Canaccord
- GitLab price target raised to $78 from $70 at Bernstein
- GitLab price target raised to $85 from $75 at Piper Sandler
- GitLab price target raised to $80 from $74 at KeyBanc
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
