GitLab Sees Surge in 'Ultimate' Adoption and Enterprise Demand, Analyst Upgrades Stock
Gitlab (GTLB) Benzinga·2024-10-22 00:25
GitLab Inc GTLB stock gained after Needham analyst Mike Cikos upgraded the stock from Hold to Buy with a $70 price target. Cikos noted that GitLab has expanded its product offerings, with Ultimate gaining traction due to innovations like Duo Pro Enterprise and Dedicated. The analyst expects increased adoption of Ultimate compared to Premium, driven by stronger Enterprise sales and GitLab's compliance and security features, which large organizations value. Also Read: GitLab Stock Climbs On Q2 Results, Strong ...