Here's What Analysts Had To Say About GitLab Post Q1 Beat

Here's What Analysts Had To Say About GitLab Post Q1 Beat
  • Analysts acknowledged GitLab Inc's 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.

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