Wall Street analysts updated their views on GitLab Inc. (NASDAQ:GTLB) following the company's latest results, with Needham and BTIG staying bullish. At the same time, DA Davidson and Guggenheim remained neutral despite stronger-than-expected quarterly metrics and early traction for the Duo Agent Platform.
Needham Sees Strong AI Growth Ahead For GitLab
Needham analyst Mike Cikos maintained a Buy rating on GitLab and raised the price forecast from $32 to $38.
Cikos said GitLab only carried part of its quarterly outperformance into its fiscal 2027 outlook due to macro headwinds and potential near-term disruption from its Act 2 restructuring.
He said gross bookings growth accelerated to its highest level in four quarters, GitLab Dedicated topped $70 million in ARR, and Ultimate reached 57% of ARR.
