Morgan Stanley initiates Overweight rating on GitLab (NASDAQ: GTLB) with $70 price target.

GitLab (NASDAQ: GTLB) shares rose after Morgan Stanley initiated coverage with an Overweight rating and a $70 price target. The firm sees GitLab as a key player in the consolidating software development market, with a serviceable opportunity valued at $13 billion in 2023, projected to grow at a 17% CAGR to $24 billion by 2027. This highlights GitLab's potential in the evolving enterprise software landscape.

October 09, 2024
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