William Power, an analyst from Robert W. Baird, maintained the Buy rating on Gitlab. The associated price target is $55.00.
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William Power has given his Buy rating due to a combination of factors that highlight GitLab’s strategic positioning and growth potential. GitLab is seen as a compelling strategic asset within the DevOps and SecOps space, particularly due to its unique integration of security at every stage of the software development process. This approach is increasingly attractive to enterprises looking to consolidate tools and enhance security, especially as the focus on securing software supply chains intensifies.
Additionally, GitLab’s recognition in Gartner’s Magic Quadrant for AI Code Assistants underscores its strength in AI integration, with its DUO AI suite offering advanced capabilities directly within its platform. This positions GitLab as a leader in secure software development, appealing to regulated industries and government agencies. Furthermore, GitLab’s current valuation, trading below its historical and peer averages, presents a potentially attractive opportunity for strategic acquirers, which supports the Buy rating.
In another report released on October 6, Morgan Stanley also maintained a Buy rating on the stock with a $60.00 price target.