TD Cowen increased its price target for GitLab Inc. to $42 from $29, citing improving developer hiring trends and corroborating partner checks that align with first-quarter observations. The firm maintained a Hold rating on the stock, which was trading at $41.31 on Thursday, close to the new target.
UBS maintained its Neutral rating on GitLab with a $40 price target, citing a stable demand outlook. The divergent targets underscore mixed analyst sentiment despite the recent share performance, which has delivered a 57% return over the past six months.
Guggenheim projected 19% total revenue growth for GitLab in the second quarter of fiscal 2027, representing a 400 basis point deceleration from the 29% growth recorded in the prior-year period. The firm also adjusted its fiscal 2027 revenue growth guidance midpoint to 17%, reflecting a more conservative outlook amid evolving market conditions.
GitLab’s management adopted a cautious stance in its guidance, acknowledging cross-currents in the competitive landscape. The company appointed Thomas Lloyd as Chief Business and Legal Officer, a role encompassing oversight of business functions, legal affairs, and board counsel responsibilities.
GitLab also released version 19.2 of its platform, introducing AI-powered automation for software development and security workflows. The update includes Dependency Scanning Auto-Remediation, currently in public beta, aimed at enhancing software dependency management.
GitLab is scheduled to release its second-quarter results on September 1, 2026. The stock’s proximity to TD Cowen’s new target and Guggenheim’s revenue projections suggest heightened investor attention ahead of the earnings announcement.
