GitLab price target raised to $85 from $80 at Wells Fargo

Wells Fargo analyst Michael Turrin raised the firm’s price target on GitLab (GTLB) to $85 from $80 and keeps an Overweight rating on the shares. The firm maintains its positive view on the developer tools category of software, expecting AI democratizes development-sharply increasing the amount of code written and managed over the next decade.