GitLab price target raised to $70 from $55 at Barclays

Barclays raised the firm’s price target on GitLab (GTLB) to $70 from $55 and keeps an Equal Weight rating on the shares post the Q3 report. The firm says the CEO change, continued margin expansion, positive Duo commentary, and management passing through more than the Q3 revenue beat were the key points in the quarter. It believes investors are likely to leave the Q3 feeling better about GitLab’s Ultimate momentum.