Bank of America Securities analyst Koji Ikeda reiterated a Buy rating on Gitlab today and set a price target of $72.00.
TipRanks Cyber Monday Sale
- Claim 60% off TipRanks Premium for data-backed insights and research tools you need to invest with confidence.
- Subscribe to TipRanks' Smart Investor Picks and see our data in action through our high-performing model portfolio - now also 60% off
Koji Ikeda has given his Buy rating due to a combination of factors that highlight GitLab’s potential for growth and market positioning. Despite a slight deceleration in revenue growth for the third quarter of fiscal year 2026, GitLab’s results surpassed expectations, and the company raised its guidance for the fiscal year. The appointment of a permanent CFO is expected to alleviate some uncertainties, and the current stock price presents a buying opportunity due to its discount compared to peers, despite a higher growth forecast.
Furthermore, GitLab’s upcoming Agent Platform is anticipated to be a significant growth driver as it becomes generally available, enhancing its position in the software development lifecycle. The company’s strategy to introduce new products, such as Secrets Manager and a binary artifact management offering, is expected to strengthen its security proposition and appeal to developer teams. These factors, combined with GitLab’s leadership in the DevSecOps category and its projected revenue growth, justify the premium valuation and the Buy rating.
Ikeda covers the Technology sector, focusing on stocks such as Autodesk, JFrog, and Zeta Global Holdings Corp. According to TipRanks, Ikeda has an average return of 11.6% and a 57.67% success rate on recommended stocks.
In another report released today, Robert W. Baird also assigned a Buy rating to the stock with a $55.00 price target.