GitLab (GTLB) Stock Price: $95 Target And Buy Rating

By Amit Chowdhry ● Jun 17, 2022
  • The shares of GitLab Inc (NASDAQ: GTLB) have received a $95 price target from Truist. These are the details.

The shares of GitLab Inc (NASDAQ: GTLB) have received a $95 price target from Truist. And Truist analyst Joel Fishbein is maintaining a “Buy” rating on the shares.

Fishbein adjusted the rating following a first-quarter earnings beat. And Fishbein noted that the company produced strong results, which included a top line beat in addition to an increased FY23 guidance as it continued to demonstrate outstanding growth driven by new enterprise customer wins and an upsell in their existing base. 

Plus Fishbein also raised the FY 2023 revenue forecast to $401 million from $387 million and a 2024 view to $546 million from $526 million.

Disclaimer: This content is intended for informational purposes. Before making any investment, you should do your own analysis.