Needham raised the firm’s price target on GitLab (GTLB) to $85 from $70 and keeps a Buy rating on the shares. The company reported better than expected Q3 results with revenue outperforming the midpoint of guidance by 4.6%, the analyst tells investors in a research note. GitLab’s expanded offering and improving AI capabilities are resonating in the market, while its single platform benefits from architectural advantages through its unified datastore, the firm adds.
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 today’s best-performing stocks on TipRanks >>
Read More on GTLB:
- GitLab price target raised to $80 from $73 at RBC Capital
- GitLab price target raised to $70 from $50 at DA Davidson
- GitLab price target raised to $80 from $75 at Scotiabank
- GitLab price target raised to $90 from $80 at Truist
- GitLab price target raised to $86 from $63 at BTIG
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
