GitLab (GTLB) Gains Analyst Confidence Ahead of Q3 Results

GitLab Inc. (NASDAQ:GTLB) is one of the best mid cap stocks to buy according to hedge funds. On November 18, Guggenheim maintained its Buy rating and $70 target on GitLab (NASDAQ:GTLB) ahead of the company’s Q3 FY2026 results. The firm expects GitLab to report revenue and earnings above consensus, driven by strong subscription and SaaS growth, with a 26% increase versus the 22% forecasted.

Guggenheim highlighted the company’s accelerating paid seat growth, CEO Bill Staples’ emphasis on customer acquisition and platform improvements, and potential upside from initiatives like the Duo Agent Platform. Despite some short-term softness in SMBs and slight disruptions, Guggenheim sees GitLab as an undervalued high-growth opportunity, with a solid 20%+ free cash flow margin and a 32% SaaS growth projection for FY2027.

Earlier on November 10, Piper Sandler restated its Overweight rating on GitLab Inc. (NASDAQ:GTLB) and kept the price target at $70 ahead of the company’s third-quarter earnings report, scheduled for December 8.

Piper Sandler said GitLab’s growth is accelerating. They also highlighted the company’s cautious guidance after the previous quarter as a positive sign for upcoming results. The analysts reported that developer activity is robust, based on trends seen at other infrastructure companies, and expect this momentum will help GitLab perform well in the third quarter. The firm’s tracking shows an increase in downloads of integrated developer tools during the quarter. Overall, they expect GitLab to “beat current market expectations and modestly raise forward guidance.” And they recommend buying the stock before the upcoming earnings release to capture possible upside.

GitLab Inc. (NASDAQ:GTLB) is a software development company. It provides a comprehensive, cloud-native DevSecOps platform that enables organizations to manage the entire software development lifecycle from source code management to continuous integration/continuous deployment (CI/CD), security testing, and monitoring.

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Disclosure: None. This article is originally published at Insider Monkey.