Gitlab (GTLB – Research Report), the Technology sector company, was revisited by a Wall Street analyst yesterday. Analyst Gray Powell from BTIG maintained a Buy rating on the stock and has a $86.00 price target.
Gray Powell has given his Buy rating due to a combination of factors including GitLab’s strong financial performance and promising future outlook. The company reported robust fourth-quarter results, with revenue surpassing expectations and demonstrating significant year-over-year growth. Additionally, GitLab’s operating income and free cash flow exceeded forecasts, indicating strong financial health.
Furthermore, GitLab’s FY26 revenue guidance aligns with market expectations, and the company is experiencing momentum in its high-priced Ultimate tier. New products like Duo Enterprise and GitLab Dedicated are gaining traction, contributing to growth prospects. The analyst also notes that GitLab’s strategic wins with major customers and the expansion of its product offerings are positive indicators for future performance. These factors, combined with the company’s position in the growing DevSecOps market, underpin the Buy rating and the price target of $86 per share.
In another report released today, Morgan Stanley also maintained a Buy rating on the stock with a $77.00 price target.
Based on the recent corporate insider activity of 91 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of GTLB in relation to earlier this year.