GTLB·TechnologySELL

GitLab Inc.

Lucas Skomial·September 5, 2026

Price Target

$39.1

Downside

-21.5%

Investment Thesis

We revise GitLab to a SELL with a USD 39.10 target against USD 49.83. The operating story improved materially in Q2 FY2027: revenue up 21%, net ARR growth accelerating to 42%, and raised full-year guidance. The issue is now valuation rather than near-term execution. Even crediting the long-term margin framework, with FCF approaching USD 724 million by FY2031, the current price already discounts more than the model supports.

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Report Details

AnalystLucas Skomial

PublishedSeptember 5, 2026

SectorTechnology

RatingSELL

Price Target$39.1

Current Price$49.83

For educational purposes only. Not investment advice. Price targets reflect analyst estimates as of the publication date.