GitLab price target raised to $78 from $65 at Canaccord

Canaccord analyst Kingsley Crane raised the firm’s price target on GitLab (GTLB) to $78 from $65 and keeps a Buy rating on the shares. The firm said the company’s results showed broad based strength while building on its strong momentum in its FQ3 with subscription revenues slightly accelerating to grow 34% and cRPO growing 39%.