Wells Fargo analyst Michael Turrin initiated coverage of GitLab with an Overweight rating and $70 price target. With the shares down 21% since the Q4 report its fiscal 2025 model “now more conservatively set,” Wells sees an “opportunistic entry” for GitLab. The analyst views GitLab as a consolidator in the “expansive” DevSecOps landscape, offering tools spanning the entire software toolchain. The firm says an artificial intelligence-led product cycle is taking shape.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on GTLB:
- GitLab CFO sells $3.37M in common stock
- GitLab SKU shows expansion of AI platform, says Raymond James
- Fly Insider: 2seventy bio, Coinbase among week’s notable insider trades
- These 2 DevOps Stocks Are Must-Owns for Software Investors, Says Wall Street Analyst
- GitLab participates in a conference call with Truist
