Analyst Mike Cikos of Needham maintained a Buy rating on Gitlab, reducing the price target to $50.00.
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
Mike Cikos has given his Buy rating due to a combination of factors influencing GitLab’s performance. Despite facing challenges from the public sector and small-to-medium business segments, GitLab managed to exceed its revenue guidance for the third quarter of fiscal year 2026. The company encountered obstacles such as government shutdowns and changes in sales strategies, which are expected to continue affecting its growth in the near term.
However, Cikos anticipates that GitLab’s strategic adjustments in its go-to-market approach will eventually stabilize and enhance its revenue growth. Although the immediate revenue growth may decelerate, the long-term outlook remains positive as new monetization strategies are integrated into the business model. This potential for future growth, despite current headwinds, underpins Cikos’s Buy rating for GitLab’s stock.
In another report released today, Robert W. Baird also assigned a Buy rating to the stock with a $55.00 price target.