GitLab Inc. (NASDAQ:GTLB) shares are trading higher Wednesday after the company posted better-than-expected second-quarter financial results and issued fiscal year 2025 guidance above estimates on Tuesday.
The Details:
GitLab beat analyst expectations on the top and bottom lines with revenue growth of more than 30% year-over-year. The company also said it expects earnings and revenue above analysts estimates for the fiscal year.
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Several analysts raised price targets on GitLab following the print:
RBC Capital maintained an Outperform rating and raised the price target from $55 to $60.
Scotiabank maintained a Sector Outperform and raised the price target from $59 to $65.
Wells Fargo maintained its Overweight rating and raised the price target from $70 to $75.
B of A Securities ...