GitLab’s Strong Market Position and Growth Potential: Buy Rating with $76 Price Target

Kingsley Crane, an analyst from Canaccord Genuity, maintained the Buy rating on Gitlab (GTLB – Research Report). The associated price target is $76.00.

Kingsley Crane has given his Buy rating due to a combination of factors that highlight GitLab’s strong market position and growth potential. The company reported a solid performance in Q1’26, with a notable 27% increase in total revenues and a 34% rise in committed revenue performance obligations (cRPO), despite not having a full-time Chief Revenue Officer for much of the quarter. This growth, coupled with an improvement in operating margins, underscores GitLab’s robust financial health.
Furthermore, GitLab’s strategic positioning in the DevSecOps platform market, particularly in the realm of AI-driven code creation, is seen as a precursor to sustained growth. The company’s partnership with AWS and the integration of Duo with Amazon Q are expected to drive platform adoption and growth. Additionally, GitLab’s unique end-to-end software deployment platform continues to resonate with IT buyers, further supporting its growth trajectory. Despite some short-term stock volatility, Crane remains optimistic about GitLab’s long-term prospects, maintaining a Buy rating with a price target of $76.

In another report released yesterday, Bernstein also maintained a Buy rating on the stock with a $70.00 price target.

Based on the recent corporate insider activity of 85 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of GTLB in relation to earlier this year.