Analyst Kingsley Crane from Canaccord Genuity maintained a Buy rating on Gitlab (GTLB – Research Report) and keeping the price target at $78.00.
Kingsley Crane’s rating is based on GitLab’s impressive financial performance and strategic positioning. The company demonstrated strong momentum with a significant increase in subscription revenues and operating margins, despite leadership transitions. This growth is supported by substantial seat expansions and major enterprise partnerships, highlighting GitLab’s appeal in the market.
Additionally, GitLab’s initial FY26 guidance aligns well with market expectations, breaking the trend of previous years where guidance led to stock declines. The partnership with AWS and integration with Duo are expected to drive platform growth and adoption, further enhancing GitLab’s market position. These factors contribute to Crane’s optimistic outlook and Buy rating for GitLab’s stock.
In another report released today, KeyBanc also maintained a Buy rating on the stock with a $80.00 price target.