Cantor Fitzgerald Reiterates Overweight Rating on GitLab Inc (GTLB) Amid Acquisition Speculation

Cantor Fitzgerald analyst Jonathan Ruykhaver reiterated an Overweight rating on GitLab Inc (NASDAQ: GTLB).

The analyst commented, "GitLab (GTLB, OW) shares traded up 12.5% Thursday (versus the S&P down 1.2%), before giving much of it back Friday, following a StreetInsider report that Datadog (DDOG, OW) is exploring an acquisition valued at > $60 per share. The report follows earlier GitLab M&A chatter, including a Betavilla story this month and a Reuters report in July 2024 linking Datadog to the company. GitLab shares are down ~14.2% year-to-date potentially due to AI-driven coding competition concerns, and its lower valuation may be attracting renewed acquisition interest. Datadog was also previously rumored to be pursuing Upwind (private) earlier this year."

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 $45.31 yesterday.

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