Scotiabank has adjusted its price target for GitLab (GTLB, Financial), lowering it from $80 to $67, while maintaining its Outperform rating for the company. The adjustment reflects some challenges observed in broader market conditions, despite positive developments such as growing adoption of the Duo platform. According to analysts, while GitLab may not be poised for a significant boost from its first-quarter results, the current valuation of its shares still appears appealing. Investors are advised to monitor these dynamics closely as they evaluate potential investments in GitLab.
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 $71.74 with a high estimate of $90.00 and a low estimate of $45.00. The average target implies an upside of 45.72% from the current price of $49.23. 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 $96.41, suggesting a upside of 95.84% from the current price of $49.23. 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.
