GitLab Inc (GTLB) PT Raised to $71 at TD Cowen

TD Cowen analyst J. Derrick Wood raised the price target on GitLab Inc (NASDAQ: GTLB) to $71.00 (from $63.00) while maintaining an Outperform rating.

The analyst commented, "GTLB reported a strong 3Q w/ rev growth of 32% above Street at 26% & FY24 growth guide raised from 31% to 35%. We think GTLB remains a meaningful beneficiary from vendor consolidation & is well-positioned for AI tailwinds to build over the course of next year. Meanwhile, GTLB highlighted strengthening enterprise demand & improving win rates (vs. DIY, TEAM, MSFT). Reiterate Outperform. PT to $71."

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