GitLab (GTLB) Stock: $120 Price Target From Piper Sandler

By Amit Chowdhry ● Nov 24, 2021
  • The shares of GitLab Inc (NASDAQ: GTLB) have received a $120 price target from Piper Sandler. These are the details.

The shares of GitLab Inc (NASDAQ: GTLB) have received a $120 price target from Piper Sandler. And Piper Sandler analyst Rob Owens initiated coverage of GitLab with a “Neutral” rating.

Owens noted that GitLab is positioned well with strong platform breadth and depth serving a large and growing $40+ billion total addressable market. And while Owens views GitLab as a premium company with a unique opportunity ahead, valuation at 46x EV/CY’23E revenue leaves him waiting for a better entry point.

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