GitLab initiated with an Outperform at Macquarie

Macquarie analyst Steve Koenig initiated coverage of GitLab (GTLB) with an Outperform rating and $90 price target GitLab, the top pick in the analyst’s coverage, has emerged as a key vendor in the rapidly evolving developer security operations toolchain, with an AI-powered platform that is useful to managers, developers, testers, IT operations, security teams, analysts, solution architects, and other personnel across the software development lifecycle, the analyst tells investors in a research note. The firm is bullish on GitLab’s investment opportunity, and views the company as a valuable strategic and financial asset, adding that consensus revenue expectations through FY27 look beatable, even with revenue decelerating modestly to +22% year over year in this medium-term horizon.