GitLab price target raised to $70 from $50 at DA Davidson

DA Davidson analyst Gil Luria raised the firm’s price target on GitLab (GTLB) to $70 from $50 and keeps a Neutral rating on the shares. The company reported a strong quarter in the face of a cautious spending environment for software with healthy results from enterprise customers and further Ultimate adoption, the analyst tells investors in a research note. The firm adds however that GitLab’s growth is reasonably priced into the stock.