Mizuho Reiterates Outperform Rating on GitLab Inc (GTLB)

Mizuho analyst Gregg Moskowitz reiterated an Outperform rating and $62.00 price target on GitLab Inc (NASDAQ: GTLB).

The analyst commented: "We recently hosted in-person meetings with CFO Brian Robins and VP of IR Kelsey Turcotte. During our discussions, GTLB expressed a lot of confidence in executing against its $40B TAM. Moreover, mgmt has been pleased with the growing uptake of Duo Pro (GenAI), and is experiencing broader than expected customer interest for its Dedicated SKU (single-tenant SaaS solution released last year).

More broadly, we continue to be constructive on GTLB's ability to execute and grow at a high level over the medium-to-longer term, due in large part to multiple upside levers that include seat expansion, price increases, and upsell potential. We reiterate our Outperform and $62 PT."

For an analyst ratings summary and ratings history on GitLab Inc click here. For more ratings news on GitLab Inc click here.

Shares of GitLab Inc closed at $48.76 yesterday.

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