Diamond Member Pelican Press 0 Posted May 14, 2024 Diamond Member Share Posted May 14, 2024 Bank of America sees 60% upside for software stock innovating with AI Investors looking for alternative ways to play artificial intelligence may want to keep an eye on an innovative software company, according to Bank of America. ” GitLab offers a rich platform built on top of its leading Source Code Management solution that is vitally important to developers,” wrote analyst Koji Ikeda, in a Tuesday note. “Furthermore, GitLab is focused on capitalizing on AI, which is accelerating the number of digital experiences (and source code) being created.” Despite a more than 15% drop this year, Ikeda maintained a buy rating on the device security operations company and a $85 price target on shares, implying 60% upside. Underpinning Ikeda’s thesis is a bet on GitLab’s initiatives beyond developers, which includes offerings for non-technical users. “GitLab is also extending its reach to personas outside of DevSecOps teams to use its tools,” he wrote. “This should expand the [total addressable market], though we admit this opportunity is still likely early.” Over the medium term, Ikeda said he sees continued source code management improvements, new security features and the expansion of AI-powered offerings as critical to GitLab’s growth. GTLB 6M mountain GitLab shares over the past six months. This is the hidden content, please Sign In or Sign Up Technology,Investment strategy,Stock markets,Gitlab Inc,Breaking News: Technology,business news #Bank #America #sees #upside #software #stock #innovating This is the hidden content, please Sign In or Sign Up 0 Quote Link to comment https://hopzone.eu/forums/topic/31618-bank-of-america-sees-60-upside-for-software-stock-innovating-with-ai/ Share on other sites More sharing options...
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