GitLab price target raised to $77 from $70 at Morgan Stanley

Morgan Stanley raised the firm’s price target on GitLab (GTLB) to $77 from $70 and keeps an Overweight rating on the shares. Q3 revenue topped consensus by 4%, resulting in sustained 31% revenue growth, while Q4 guidance of 25%-26% was slightly ahead of expectations, the analyst tells investors in a post-earnings note. The firm sees mid-20% growth “proving durable,” which should translate to 40%-plus compound annual growth in free cash flow through calendar year 2027, the analyst added.