GitLab price target raised to $80 from $73 at RBC Capital

RBC Capital analyst Matthew Hedberg raised the firm’s price target on GitLab (GTLB) to $80 from $73 and keeps an Outperform rating on the shares. The company reported strong results relative to expectations that came in above where the firm saw buyside expectations, the analyst tells investors in a research note. RBC adds that it remains impressed by the market opportunity and strong execution for GitLab, noting that the stock is still its “favorite growth idea”.