The company had a trailing incremental last 12-month incremental FCF margin of some 93% and 25% of forecast growth in the next 12 months.
Citing Gitlab's ability to continue generating revenue growth, the investment bank expects operating leverage to materialize as the company "scales into what is a large software deployment market."
Called one of the high-quality names in Canaccord's screen, Monday.com had a trailing incremental FCF margin of 91% and projected revenue growth of 28%.
Canaccord cited high non-GAAP gross margins, durable growth and healthy FCF leverage over the trailing 12 months as drivers of Monday's "best-in-class" incremental FCF.
SentinelOne also turned up at the top of Canaccord's screen, with a trailing incremental FCF of some 89% and forecast revenue growth of roughly 28%.
Persons:
Canaccord Genuity, Gitlab, Cannacord, Monday.com, Canaccord, Canaccord doesn't, SentinelOne
Organizations:
Broadcom, Nvidia, Street, Barclays