- JPMorgan Analyst Sterling Auty upgraded GitLab Inc GTLB to Overweight from Neutral with an unchanged target price of $ 99, suggesting a 62%increase.
- The analyst calls the company a “Growth All-Star” with a current valuation of less than 18-times 2022 earnings.
- Results from Microsoft Corp MSFT at ServiceNow Inc. NOW prove that software basics continue to be excellent, Auty told investors in a research note.
- Related Content: Why Microsoft Shares Are Trading Higher Today
- ServiceNow reports Fourth Quarter and Full Year 2021 Financial Results
- After the bear market, the next 12 months will see software stocks beating and rising in revenue, and GitLab will be one of those companies, the analyst said.
- Price Action: Shares of GTLB traded 5.91% higher at $ 61.16 in the last check on Thursday.
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