I would guess so, since Italian has gender the same way Spanish does. When you are shouting "bravo" you are basically saying that the person is "brave" or it's a brave performance. Brave being awesome, well-done, etc.

So, in Spanish at least, that performer would be (if a man) - un hombre bravo. (The o ending being the masculine ending to an adjective describing a man). Or - una dama brava (the a ending being the feminine ending to an adjective describing a woman).

My guess is Italian would be the same. But I do not speak Italian.