GitLab price target raised to $63 from $58 at BTIG

BTIG analyst Gray Powell raised the firm’s price target on GitLab to $63 from $58 and keeps a Buy rating on the shares. The analyst cites the company’s “very strong” Q2 earnings beat and guidance raise, also noting that it was particularly good to see the results come through as many investors were concerned about softness in underlying trends during Q1 and the potential for a guide down later this year. Allmost every leading metric – billings, RPO, CRPO, and bookings – improved in Q2, the firm tells investors in a research note.