KeyBanc analyst Jason Celino has adjusted the firm's price target for GitLab (GTLB, Financial), reducing it from $80 to $60. This revision is due in part to heightened risks related to public sector agreements and a general decline in software valuations.
Despite this adjustment, KeyBanc maintains an Overweight rating on GitLab's shares. The firm's analysis suggests that while first-quarter bookings might remain stable, the guidance update may exhibit caution as the company experiences slower signing rates alongside pipeline developments.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 26 analysts, the average target price for GitLab Inc (GTLB, Financial) is $76.70 with a high estimate of $90.00 and a low estimate of $58.00. The average target implies an upside of 81.88% from the current price of $42.17. More detailed estimate data can be found on the GitLab Inc (GTLB) Forecast page.
Based on the consensus recommendation from 29 brokerage firms, GitLab Inc's (GTLB, Financial) average brokerage recommendation is currently 1.9, indicating "Outperform" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
Based on GuruFocus estimates, the estimated GF Value for GitLab Inc (GTLB, Financial) in one year is $93.56, suggesting a upside of 121.86% from the current price of $42.17. GF Value is GuruFocus' estimate of the fair value that the stock should be traded at. It is calculated based on the historical multiples the stock has traded at previously, as well as past business growth and the future estimates of the business' performance. More detailed data can be found on the GitLab Inc (GTLB) Summary page.
