GitLab Price Targets Raised After Q2 Beat, September 2 2026
Thirty analyst actions landed on Wednesday, across three names that all reported the evening before. GitLab ($GTLB) drew twelve of them. MongoDB ($MDB) and Palo Alto Networks ($PANW) drew nine each.
GitLab Books $286.3 Million In Quarterly Revenue And Draws Twelve Analyst Actions
GitLab sells a DevSecOps platform. It is delivered as a single application rather than as separate tools. GitLab runs an all-remote workforce.
What GitLab’s Second Quarter Showed
Revenue in the second quarter was $286.3 million. That was 21 percent above the same quarter a year earlier. Subscriptions brought in $258.3 million of it, or 90 percent. The non-GAAP operating margin was 15 percent. Non-GAAP net income was $42.1 million. On a GAAP basis, though, the company lost $36.8 million. Adjusted free cash flow was $9.8 million.
The dollar-based net retention rate was 117 percent. Customers paying more than $100,000 a year reached 1,571, or 17 percent more than a year earlier. Remaining performance obligations came to $1.2 billion, 16 percent more than a year earlier.
Bill Staples, the chief executive, said GitLab had “an exceptional quarter, with record gross bookings and net ARR growth exceeding 40% year over year.” He tied that growth to AI, which he said drives more software creation. The company introduced a commercial model it calls GitLab Flex during the quarter, and it launched Secrets Manager.
Guidance for the current quarter runs to revenue of $281 million to $283 million. Non-GAAP operating income is guided at $35 million to $37 million. Non-GAAP earnings are guided at $0.19 to $0.20 a share. That quarterly range is under the $286.3 million just reported. Full year revenue is guided to $1.129 billion to $1.133 billion.
GitLab’s Stock Price Target News Today
Four desks raised their targets and kept a buy rating. Mike Cikos of Needham kept Buy and raised his price target from $38 to $65. Nick Altmann of BTIG also kept Buy, and lifted his from $52 to $60. Shrenik Kothari of Baird held Outperform and took his from $47 to $59. Blair Abernethy of Rosenblatt kept Buy and moved his from $43 to $55 as well.
Five more raised their targets without moving to a buy rating. Matthew Hedberg of RBC Capital stayed at Sector Perform and went from $46 to $60. Sanjit Singh of Morgan Stanley stayed at Equal-Weight and went from $30 to $57. Koji Ikeda of B of A Securities held Neutral and went from $45 to $54, and Rob Owens of Piper Sandler held Neutral and went from $28 to $52. Raimo Lenschow of Barclays kept Underweight and took his target from $25 to $47.
Three more acted without publishing a new target. Jonathan Ruykhaver of Cantor Fitzgerald stayed Neutral at $50. Howard Ma of Guggenheim reiterated Neutral. Jason Ader of William Blair upgraded the stock from Underperform to Market Perform, the only rating change among the thirty actions.
Cikos has met 63.97 percent of his price targets across the 37 stocks AnaChart tracks him on, and takes an average of 115 days to meet one.
Where GitLab’s Coverage Sits
The average target across the 24 analysts AnaChart tracks on GitLab stands at $37.40, and the board runs from $24 to $60.
MongoDB Books $771.8 Million In Quarterly Revenue And Draws Nine Analyst Actions
MongoDB sells a database. Atlas is the version MongoDB runs for customers in the cloud. Enterprise Advanced is instead the one customers run themselves, on their own hardware or in a private cloud. Both carry search, analytics and AI features.
What MongoDB’s Second Quarter Showed
Revenue in the second quarter was $771.8 million, 30 percent more than a year earlier. The company called that its highest growth rate in several years. Non-GAAP net income was $162.6 million, or $1.90 a share.
Atlas brought in $565.9 million of the $747.1 million subscription line, roughly 76 percent of it. Atlas grew about 29 percent. Enterprise Advanced and other subscriptions added $181.2 million, and grew about 36 percent. The customer base passed 70,600, and 2,999 of those customers pay more than $100,000 a year.
MongoDB guides the current quarter to revenue of $756 million to $761 million. It also raised its full year range to $2.99 billion to $3.03 billion. The company points to Atlas for the raise.
MongoDB’s Stock Price Target News Today
Three desks raised their targets. Singh kept Overweight on MongoDB and raised his price target from $380 to $430. Abernethy kept Buy and raised his from $395 to $445. Lenschow held Overweight and took his from $460 to $480.
Two desks, by contrast, went the other way. Brad Reback of Stifel kept Buy and cut his from $475 to $465. Rishi Jaluria of RBC Capital kept Outperform and cut his from $515 to $465.
Four more left their targets where they were. Cikos kept Buy at $430. Thomas Blakey of Cantor Fitzgerald kept Overweight at $540. Patrick Walravens of Citizens JMP kept Market Outperform at $519, and Ma kept Buy at $560.
Where MongoDB’s Coverage Sits
The average target across the 33 analysts AnaChart tracks on MongoDB stands at $418.09. That board runs from $300 to $560.
Palo Alto Networks Books $3.41 Billion In Quarterly Revenue And Draws Nine Analyst Actions
Palo Alto Networks sells enterprise security. It reports a measure it calls next-generation security ARR. That measure covers the subscription and cloud products rather than the firewall hardware. The company completed its purchase of CyberArk on 11 February 2026. Palo Alto paid $45 in cash plus 2.2005 of its own shares for each CyberArk share. Palo Alto describes identity security as a core pillar of the platform it is assembling.
What Palo Alto’s Fourth Quarter Showed
Revenue in the fourth quarter was $3.41 billion, 34 percent more than a year earlier. Non-GAAP earnings were $1.02 a share, against $0.95 in the same quarter a year earlier. Revenue for the full fiscal year came to $11.48 billion, against $9.22 billion.
Next-generation security ARR reached $9.10 billion, 63 percent more than a year earlier, and the company added nearly $1 billion of it in the quarter alone. Remaining performance obligations reached $21.2 billion, also 34 percent higher.
Guidance for the new fiscal year runs to revenue of $14.10 billion to $14.20 billion. Next-generation security ARR is guided at $11.08 billion to $11.18 billion. The non-GAAP operating margin is guided at 29.5 percent.
Palo Alto’s Stock Price Target News Today
Four desks raised their targets by more than $20. Hedberg kept Outperform on Palo Alto Networks and raised his price target from $434 to $475. Shyam Patil of Susquehanna kept Positive and raised his from $350 to $415. Catharine Trebnick of Rosenblatt kept Buy and took hers from $355 to $415. Gray Powell of BTIG kept Buy and went from $380 to $404.
Two more raised their targets by single-digit steps. Meta Marshall of Morgan Stanley held Overweight and went from $387 to $394. Saket Kalia of Barclays held Overweight and went from $370 to $375.
Three desks left their positions unchanged. Cikos kept Buy at $425. Ruykhaver kept Overweight at the same $425. John Difucci of Guggenheim reiterated Neutral without publishing a target.
Where Palo Alto’s Coverage Sits
The average target across the 36 analysts AnaChart tracks on Palo Alto Networks stands at $328.53. The board runs from $157 to $450.
Questions Readers Ask About These Numbers
How many analyst actions landed on these three names on Wednesday? Thirty in all. GitLab drew twelve, from Needham, BTIG, Baird, Rosenblatt, RBC Capital, Morgan Stanley, B of A Securities, Piper Sandler, Barclays, Cantor Fitzgerald, Guggenheim and William Blair. MongoDB drew nine, from Morgan Stanley, Rosenblatt, Barclays, Stifel, RBC Capital, Needham, Cantor Fitzgerald, Citizens JMP and Guggenheim. Palo Alto Networks drew nine, from RBC Capital, Susquehanna, Rosenblatt, BTIG, Morgan Stanley, Barclays, Needham, Cantor Fitzgerald and Guggenheim.
Why did all three names draw coverage at once? All three companies reported the evening of 1 September. GitLab and MongoDB posted fiscal second quarters and Palo Alto Networks posted a fiscal fourth quarter and full year, so thirty actions followed the next morning.
Which analyst acted on all three names? Mike Cikos of Needham. He kept Buy on all three. He raised his GitLab target from $38 to $65, and left MongoDB at $430 and Palo Alto Networks at $425.
The previous session’s actions are in the 1 September update. The analyst price target dataset holds the underlying record for these analysts and tickers.
