GitLab shares are trading higher after the company reported better-than-expected Q2 financial results and issued FY25 guidance above estimates. Also, Baird maintained an Outperform rating on the stock and raised its price target from $59 to $62.
Portfolio Pulse from Benzinga Newsdesk
GitLab shares rose after the company reported strong Q2 results and provided FY25 guidance above expectations. Baird maintained an Outperform rating and increased its price target from $59 to $62.
September 04, 2024 | 11:45 am
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GitLab shares increased due to better-than-expected Q2 results and strong FY25 guidance. Baird maintained an Outperform rating and raised the price target to $62.
The positive Q2 results and optimistic FY25 guidance are likely to boost investor confidence, leading to a rise in GitLab's stock price. Additionally, Baird's increased price target and maintained Outperform rating further support a positive short-term outlook.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100