GitLab price target raised to $68 from $66 at BofA

BofA analyst Koji Ikeda raised the firm’s price target on GitLab to $68 from $66 and keeps a Buy rating on the shares after the company reported “strong” fiscal Q2 results and gave FY25 total revenue guidance of $743M at the midpoint that implies 28% year-over-year growth, which the firm calls “one of the fastest guides in software.” The firm believes the Q2 results are another data point that supports its long-term bullish view that GitLab is a share gainer in a $50B-plus total addressable market, the analyst tells investors.