GitLab Inc (GTLB) PT Raised to $70 at DA Davidson

DA Davidson analyst Gil Luria raised the price target on GitLab Inc (NASDAQ: GTLB) to $70.00 (from $50.00) while maintaining a Neutral rating.

The analyst comments "GitLab reported a strong quarter in the face of a cautious spending environment for software with healthy results from enterprise customers and further Ultimate adoption. It was also announced that effective today Bill Staples is CEO with Sid transitioning to executive chair of the GitLab board of directors. GitLab's growth is reasonably priced into the stock, we maintain our NEUTRAL rating and raise our price target to $70."

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