In a report released today, Mike Cikos from Needham maintained a Buy rating on Gitlab (GTLB – Research Report), with a price target of $60.00. The company’s shares closed yesterday at $44.54.
According to TipRanks, Cikos is an analyst with an average return of -9.0% and a 25.71% success rate. Cikos covers the Technology sector, focusing on stocks such as Datadog, Gitlab, and Splunk.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Gitlab with a $62.00 average price target, which is a 39.20% upside from current levels. In a report released on January 9, Truist Financial also maintained a Buy rating on the stock with a $75.00 price target.
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Based on Gitlab’s latest earnings release for the quarter ending October 31, the company reported a quarterly revenue of $112.98 million and a GAAP net loss of $48.46 million. In comparison, last year the company earned a revenue of $66.8 million and had a GAAP net loss of $41.23 million
Based on the recent corporate insider activity of 57 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of GTLB in relation to earlier this year.
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GitLab Inc is the DevOps platform that empowers organizations to maximize the overall return on software development by delivering software faster and efficiently, while strengthening security and compliance.
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