- Analysts acknowledged GitLab Inc's (NASDAQ:GTLB) Q1 beat by re-rating the stock.
- RBC Capital analyst Matthew Hedberg maintained GitLab with an Outperform and raised the price target from $64 to $66.
- GitLab reported a solid start to the year as execution continued in its third quarter as a public company, Hedberg noted.
- Revenue growth again accelerated while RPO grew paired with significant margin expansion.
- Guidance moves higher for revenue and margins as management remains bullish on their opportunity and pipeline.
- Piper Sandler analyst Rob Owens lowered the price target on GitLab to $60 from $75 and kept an Overweight.
- GitLab delivered "solid" fiscal Q1 results across nearly all metrics, with sales acceleration and meaningful earnings outperformance, as platform adoption sustains momentum with new and existing customers, Owens noted.
- Owen cut the price target on multiple compression.
- UBS analyst Karl Keirstead maintained GitLab with a Buy and raised the price target from $54 to $59.
- GitLab demonstrated 'outstanding growth,' Truist said.
- Price Action: GTLB shares traded higher by 23.60% at $49.25 on the last check Tuesday.
