Scotiabank raised the firm’s price target on GitLab to $60 from $58 and keeps an Outperform rating on the shares. The company posted another strong quarter and raised its fiscal 2024 revenue guidance, the analyst tells investors in a research note. The firm believes the outlook is conservative and sets up GitLab “for an attractive beat and raise cadence” through the second half of the year.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See Insiders’ Hot Stocks on TipRanks >>
Read More on GTLB:
- Gitlab (NASDAQ:GTLB) Stock: Analysts Remain Bullish Following Strong Q2 Results
- GitLab Chief Financial Officer Brian Robins to Present at the Piper Sandler Growth Frontiers Conference
- GitLab (NASDAQ:GTLB) Gains on Q2 Beat
- GitLab price target raised to $65 from $60 at Barclays
- GitLab jumps 7% to $53.30 after Q2 earnings beat, FY24 guidance raise