These Analysts Boost Their Forecasts On GitLab After Strong Q1 Results

GitLab Inc. GTLB reported better-than-expected earnings results for its first quarter.

GitLab posted adjusted loss of 6 cents per share, beating analysts’ estimates for a loss of 14 cents per share. The company’s sales came in at $126.90 million, versus expectations of $117.78 million.

GitLab shares gained 31.7% to $46.60 in pre-market trading.

These analysts made changes to their price targets on GitLab following earnings announcement.

• Mizuho raised the price target on GitLab from $38 to $45. Mizuho analyst Gregg Moskowitz maintained a Neutral rating.
• B of A Securities increased the price target on GitLab from $50 to $55. B of A Securities analyst Koji Ikeda maintained a Buy rating.
• TD Cowen boosted GitLab price target from $44 to $56. TD Cowen analyst J. Derrick Wood maintained an Outperform rating.
• RBC Capital raised GitLab price target from $45 to $56. RBC Capital analyst Matthew Hedberg maintained the stock with an Outperform.
• JP Morgan increased GitLab price target from $33 to $39. JP Morgan analyst Pinjalim Bora maintained the stock with a Neutral.
• Piper Sandler raised GitLab price target from $50 to $52. Piper Sandler analyst Rob Owens maintained the stock with an Overweight.
• DA Davidson raised GitLab price target from $30 to $45. DA Davidson analyst Gil Luria maintained the stock with a Neutral.
• Truist Securities raised GitLab price target from $50 to $60. Truist Securities analyst Miller Jump maintained a Buy rating on the stock.
• UBS boosted GitLab price target from $35 to $50. UBS analyst Karl Keirstead maintained the stock with a Buy rating.

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