Truist raised the firm’s price target on GitLab to $65 from $60 and keeps a Buy rating on the shares. The company’s Q2 results saw “another solid beat and raise” that was driven by strong execution and an improving demand backdrop, the analyst tells investors in a research note. The company’s guidance could also prove conservative as the management has called out stabilizing trends during the quarter that may set the company up for a solid renewal season in the second half of FY24, the firm added.
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