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Investing.com - Cantor Fitzgerald has reiterated an Overweight rating and $60.00 price target on GitLab Inc (NASDAQ:GTLB) ahead of the company’s fiscal second-quarter 2026 earnings report, due September 9. The stock, currently trading near its 52-week low, has seen 14 analysts revise their earnings estimates upward for the upcoming period, according to InvestingPro data.
The firm’s investment stance remains unchanged, citing a long-term growth trajectory driven by Ultimate adoption, Duo expansion, and large customer growth for the DevOps platform provider.
GitLab’s Ultimate tier continues to drive platform adoption, accounting for 52% of total Annual Recurring Revenue (ARR) in fiscal first-quarter 2026, with eight of the company’s top ten deals in that quarter coming from the Ultimate offering.
The company now serves 1,288 customers with over $100,000 in ARR, representing a 26% year-over-year increase, as GitLab implements its strategy of landing with developers first before expanding to security and operations teams.
Cantor Fitzgerald forecasts 24.3% top-line growth for GitLab’s fiscal second-quarter 2026, aligning with the consensus estimate from FactSet.
In other recent news, GitLab Inc. has entered into a strategic three-year collaboration with Amazon (NASDAQ:AMZN) Web Services (AWS) to enhance access to GitLab Dedicated for regulated industries. This collaboration aims to support organizations in meeting complex compliance requirements. Additionally, GitLab has launched the public beta of its Duo Agent Platform, designed to facilitate collaboration between developers and AI agents, offering intelligent orchestration for enhanced project management. In terms of analyst activity, BofA Securities maintained its Buy rating with a $72 price target for GitLab, following the announcement of the Agent Platform entering public beta. Meanwhile, CapitalOne downgraded GitLab from Overweight to Equal-weight, citing concerns over product differentiation as features become more commoditized. On a positive note, Rosenblatt Securities initiated coverage with a Buy rating and a $58 price target, emphasizing GitLab’s role as a leading DevOps platform. These developments highlight a mix of strategic partnerships, product launches, and varied analyst opinions surrounding GitLab’s market position.
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