GitLab price target raised to $80 from $75 at Cantor Fitzgerald

Cantor Fitzgerald raised the firm’s price target on GitLab (GTLB) to $80 from $75 and keeps an Overweight rating on the shares. GitLab’s Q3 results were “impressive,” outperforming consensus estimates on revenue, operating income, and EPS, with the beat driven by GitLab Ultimate adoption, improved cost efficiencies, and strong core product demand, while the company also named Bill Staples as CEO, effective Thursday, the analyst tells investors in a research note. While Staples’ leadership direction for GitLab is yet to be seen, management hinted during the call that he may eventually guide the company toward a consumption-based pricing model as part of a longer-term strategy to incorporate AI agents, Cantor says.