UBS maintains Neutral on GitLab, raises price target to $35

UBS analyst Radi Sultan maintained a Neutral rating on GitLab and raised the price target to $35 from $32, indicating a revised valuation while maintaining a cautious near-term view.

UBS analyst Radi Sultan has maintained a Neutral rating on GitLab while raising the price target to $35 from $32. The revised target indicates an updated valuation outlook for the NASDAQ-listed company, though the analyst remains neutral on the stock's near-term trajectory.

Rating and Price Target Update

The research note affirms the Neutral stance on GitLab shares, suggesting the stock is likely to perform in line with the broader market. The increase in the price target to $35 signals a more constructive view on the company's intrinsic value compared to the previous $32 estimate.

Metric	Value
Rating	Neutral
Previous Price Target	$32
New Price Target	$35
Exchange	NASDAQ

The decision to adjust the price target while keeping the rating unchanged highlights a balance between recognizing potential upside and maintaining caution regarding current market conditions.

GitLab Inc. has been recognized as a Leader in the 2026 Gartner Magic Quadrant for DevSecOps Platforms for the fourth consecutive year. The report evaluated 13 vendors, highlighting GitLab's unified platform that connects planning, development, security, and deployment. This recognition comes as enterprises face challenges in managing AI-generated code and require scalable infrastructure.

GitLab Inc. has been named a Leader in the 2026 Gartner Magic Quadrant for DevSecOps Platforms for the fourth consecutive year. The evaluation, which assessed 13 vendors, underscores the company's position in providing a unified platform for planning, development, security, and deployment. This recognition is significant as enterprises increasingly adopt agentic software development tools, requiring infrastructure that scales with accelerated coding cycles.

GitLab's research, involving over 1,500 developers and technology leaders, reveals that 91% of organizations now utilize two or more AI coding tools. However, 73% express concern about maintaining the code generated by these tools. GitLab addresses these challenges by offering the compliance and governance infrastructure necessary for agentic scale, enabling enterprises to deliver customer value faster without compromising security or quality.

According to Gartner, organizations leverage DevSecOps platforms to reduce friction and maintenance costs associated with custom toolchains. The platform market reflects the consolidation of technologies across development, security, infrastructure, and operations to streamline software delivery. GitLab's continuous innovation is evidenced by its shipment of new solutions every month for over 175 consecutive months.

On June 10, 2026, GitLab hosted Transcend, a live and streaming event showcasing next-generation platform capabilities designed for the agentic era. Manav Khurana, chief product and marketing officer at GitLab, stated that the recognition reflects the needs of enterprise customers, noting that some codebases are growing up to five times in a single year. He emphasized the necessity of agentic infrastructure to maintain speed alongside enterprise control.

The 2026 Gartner Magic Quadrant for DevSecOps Platforms was published on June 15, 2026. GitLab serves more than 50 million registered users and approximately 50% of the Fortune 100, based on its data and the 2025 Fortune 500 list.