Piper Sandler analyst Rob Owens raised the firm’s price target on GitLab to $65 from $52 and keeps an Overweight rating on the shares. The company’s Q2 results exceeded expectations as sales and operating margins toped forecasts with unit economics continuing to improve, the analyst tells investors in a research note. The firm says GitLab’s platform proposition continues to resonate across the customer set, helping success up market.
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