BofA analyst Koji Ikeda raised the firm’s price target on GitLab to $60 from $55 and keeps a Buy rating on the shares, citing higher confidence in the potential for GitLab to become a DevSecOps share gainer following investor meetings. Management’s “bullish” tone suggests stabilizing to improving demand trends, which leads BofA to believe there is upside potential to FY24 consensus revenue and operating income estimates, the analyst tells investors.
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Read More on GTLB:
- GitLab Appoints Erin Mannix as Chief Accounting Officer
- GitLab names Erin Mannix as Chief Accounting Officer
- GitLab price target raised to $60 from $56 at RBC Capital
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- GitLab appoints Josh Lemos as CISO
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