Sanjit Singh, an analyst from Morgan Stanley, maintained the Buy rating on Gitlab (GTLB – Research Report). The associated price target remains the same with $77.00.
Sanjit Singh has given his Buy rating due to a combination of factors that highlight GitLab’s strong growth potential and financial performance. The company demonstrated a 29% year-over-year revenue increase in the fourth quarter, which, although slightly below previous quarters, still indicates significant enterprise momentum. This growth is supported by a notable rise in customer spending, particularly among those with annual recurring revenue exceeding $100,000 and $1 million, as well as substantial growth in GitLab’s Dedicated and Duo offerings.
Sanjit Singh’s rating is based on the expectation of continued durable growth in the mid-20% range, coupled with expanding margins, which are attractive given the current valuation. The outlook for the first quarter and fiscal year 2026 appears promising, aligning with the company’s ongoing traction in the $40 billion DevSecOps market. This positions GitLab well for sustained top-line growth and margin expansion, reinforcing the Buy recommendation.
Singh covers the Technology sector, focusing on stocks such as Dynatrace, Palantir Technologies, and MongoDB. According to TipRanks, Singh has an average return of 1.9% and a 51.90% success rate on recommended stocks.