** Software development platform GitLab GTLB.O shares rise 2.3% to $43.55 premarket

** Rosenblatt Securities initiates coverage with "buy" rating; PT to $58

** Brokerage says co integrates all key aspects of the Software Development Lifecycle on one platform, offers integrated experience that boosts productivity and reduces friction

** Complexity of modern cloud and emerging GenAI applications, along with upsell opportunities, provide significant growth potential for co - Rosenblatt

** "The rapid ongoing adoption of generative AI

and emerging Agentic AI solutions impact GitLab in several ways, mostly for the better" - Rosenblatt

** Brokerage also notes that GitLab's Ultimate subscription plans, a key revenue source, now account for 25% of paid users, up from 5% in FY20, which indicates upsell potential among their 10,000+ customers, boosting future revenue growth

** Rosenblatt expects co's margins to expand to 12.7% this year and mid-teens next; exceed 30% over long-term

** 24 of brokerages rate the stock "buy" or higher, eight "hold"; their median PT is $60

** As of last close, GTLB down 24.5% YTD

(Reporting by Sanchayaita Roy in Bengaluru)