GitLab delivers ‘strong quarter’ but ‘conservative’ guide, says RBC Capital

RBC Capital analyst Matthew Hedberg keeps an Outperform rating and $80 price target on GitLab after its Q4 results. The company saw “strong” 33% revenue growth and better profitability, though its FY25 guidance was mixed with management calling out a “less conservative” guidance philosophy, the analyst tells investors in a research note. RBC sees lower beats for GitLab relative to its historical levels, though it also believes that there is still room for upside to estimates driven by the Premium price increase and better than expected contribution from new products, the firm added.