Gitlab Inc (NASDAQ:GTLB) on Tuesday reported better-than-expected second-quarter financial results and raised its FY27 guidance above estimates.

GitLab reported adjusted/non-GAAP earnings of 24 cents per share 24 cents, which beat the consensus estimate of 18 cents, per Benzinga Pro data. Quarterly revenue came in at $286.25 million, which beat the Street estimate of $273.12 million and was up from $235.96 million in the same period last year.

"Q2 was an exceptional quarter, with record gross bookings and net ARR growth exceeding 40% year over year," said Bill Staples, GitLab CEO.

GitLab raised its fiscal 2027 adjusted EPS guidance to between 85 cents and 87 cents, versus the 81 cent analyst estimate, and raised its revenue outlook to between $1.129 billion and $1.133 billion, versus the $1.12 billion estimate.

GitLab shares jumped 21.6% to $54.84 in pre-market trading.

These analysts made changes to their price targets on GitLab following earnings announcement.

  • BTIG analyst Nick Altmann maintained the stock with a Buy and raised the price target from $52 to $60.
  • Piper Sandler analyst Rob Owens maintained the stock with a Neutral and raised the price target from $28 to $52.
  • Needham analyst Mike Cikos maintained the stock with a Buy and raised the price target from $38 to $65.

Considering buying GTLB stock? Here’s what analysts think:

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