Canaccord raises target for GitLab stock from USD 40.00 to USD 70.00

Published on 10/06/2026 at 03:18 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Revenue rose 21.30 percent to USD 286.25 million in the second quarter. GitLab stock posted USD 0.24 adjusted earnings per share versus USD 0.18 consensus.

GTLB, US37637K1088, Illustration mit AI erstellt.

Canaccord Genuity raised its GitLab price target from USD 40.00 to USD 70.00 on September 2, 2026, according to MarketBeat. GitLab stock had a prior close of EUR 45.65 at Lang & Schwarz on October 2, 2026, giving investors a dated euro reference while the latest live indication was outside the current session.

Target range widens sharply

The Canaccord move stands out because the new USD 70.00 target is USD 30.00 above the previous USD 40.00 level. MarketBeat also reported that Barclays raised its target from USD 25.00 to USD 47.00 while keeping an underweight rating, and Robert W. Baird lifted its target from USD 47.00 to USD 59.00 with an outperform rating on September 2, 2026.

That spread shows why the target increase is not a uniform signal. MarketBeat cited a consensus Hold rating with an average target of USD 51.75, alongside seven Buy ratings, seventeen Hold ratings and four Sell ratings.

Second-quarter growth remains measurable

Zacks reported that GitLab generated USD 286.25 million of revenue in the second quarter of fiscal 2027, up 21.30 percent from the year-earlier quarter and 4.74 percent above consensus. Adjusted earnings per share reached USD 0.24, compared with USD 0.18 expected.

The same report put annual recurring revenue growth at 42.00 percent year over year and dollar-based net retention at 117.00 percent. SaaS revenue increased 36.00 percent to represent 34.00 percent of total revenue, giving the growth story a more specific operating base.

Guidance also sets a clear test for the next report. GitLab expects second-quarter fiscal 2027 revenue of USD 281.00 million to USD 283.00 million for the following quarter, with adjusted earnings per share of USD 0.19 to USD 0.20. Fiscal 2027 revenue guidance stands at USD 1.129 billion to USD 1.133 billion.

Stock stays below its yearly high

GitLab had a market capitalization of USD 8.7 billion as of October 5, 2026. Its 52-week range was USD 18.73 to USD 55.55, placing the prior Lang & Schwarz close below the upper boundary and leaving valuation dependent on continued revenue growth and improving profitability.

GitLab's investor-relations page identifies the latest reporting package as the second quarter of fiscal 2027 and describes the company as an intelligent orchestration platform for DevSecOps. GitLab says its platform is used by more than 50 million registered users and 50 percent of the Fortune 100.

Euro reference remains dated

The prior close at Lang & Schwarz was EUR 45.65 on October 2, 2026. Stockopedia identifies GitLab as listed on the NASDAQ Global Select Market under ticker GTLB, with a market capitalization of USD 8.29 billion at the prior USD 49.78 close on October 2, 2026.