30 Stocks Expected To Beat the Market By 20 Percentage Points This Year

Page 22 of 30

9. GitLab Inc. (NASDAQ:GTLB)

Analyst Upside: 49.45%

Number of Hedge Fund Holders: 52

GitLab Inc. (NASDAQ:GTLB) ranks among the 30 stocks expected to beat the market by 20 percentage points this year. On June 11, Canaccord Genuity maintained its Buy rating on GitLab Inc. (NASDAQ:GTLB), while decreasing its price target to $76 from $78.

Canaccord stressed that despite the current software purchasing climate, GitLab Inc. (NASDAQ:GTLB) continues to show robust revenue growth from seat expansions, which the firm sees as proof that the platform’s value proposition appeals to users.

The research firm highlighted GitLab’s distinctive end-to-end platform approach, which starts with source code management, and pointed out that IT buyers continue to place a high premium on investing in the software supply chain.

Canaccord also mentioned GitLab’s success in turning a profit, stating that it expects operating leverage to develop organically as the company scales into what it refers to as a sizable software deployment market.

GitLab Inc. (NASDAQ:GTLB) offers a uniform platform that supports the full software development lifecycle, enabling teams to design, create, protect, and launch applications across various cloud environments.

Page 22 of 30