Bank of America Securities analyst Koji Ikeda maintained a Buy rating on Gitlab yesterday and set a price target of $72.00.
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Koji Ikeda has given his Buy rating due to a combination of factors that balance recent execution risks against GitLab’s current valuation and long‑term opportunity. He notes a series of senior leadership changes, including the CTO’s resignation and prior departures of the CFO and CPO, which introduce uncertainty around the rollout of the Agent Platform and GitLab’s transition toward a hybrid model that combines seat-based and consumption pricing. These changes, alongside the lack of a guidance reaffirmation, could raise investor concerns about the company’s pace of AI and product innovation.
At the same time, Ikeda emphasizes that GitLab’s shares trade at a meaningful discount to comparable infrastructure software companies on an EV-to-2026 revenue basis. In his view, this valuation already reflects much of the perceived execution risk tied to leadership turnover and the Agent Platform ramp. The replacement of key roles such as CFO and product leadership, along with the strategic importance of the Agent Platform to GitLab’s growth trajectory, supports the potential for multiple expansion if execution stabilizes. Consequently, he sees an attractive risk‑reward setup at current levels, justifying the Buy rating and a price objective that is substantially above the current share price.
In another report released yesterday, Piper Sandler also maintained a Buy rating on the stock with a $55.00 price target.