Barclays analyst Ryan MacWilliams maintains $Gitlab (GTLB.US)$ with a hold rating, and adjusts the target price from $55 to $70.
According to TipRanks data, the analyst has a success rate of 64.5% and a total average return of 18.3% over the past year.
Furthermore, according to the comprehensive report, the opinions of $Gitlab (GTLB.US)$'s main analysts recently are as follows:
Following the Q3 report, noteworthy developments include the CEO transition, ongoing expansion of margins, encouraging commentary on Duo, and management exceeding Q3 revenue expectations. These factors are likely to enhance investor confidence regarding GitLab's momentum with Ultimate.
GitLab's Q3 revenue exceeded consensus by 4%, maintaining a robust 31% revenue growth. Q4 forecasts suggest a 25%-26% growth, which is also slightly better than expected. Analysts believe that mid-20% growth rates will be sustainable, potentially leading to an increase in free cash flow by over 40% annually through the calendar year 2027.
GitLab reported Q3 results that surpassed expectations, with revenues exceeding the midpoint of guidance by 4.6%. The company's enhanced offerings and advancing AI capabilities are finding strong resonance in the market. Additionally, the architectural benefits offered by its unified datastore have been emphasized as a significant advantage.
Note:
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