DA Davidson assumed coverage of GitLab (GTLB) with a Neutral rating and $50 price target Shares are down about 22% year-to-date due to fears of competitive threats from new GenAI coding tools, leaving the stock trading at a steep discount to growth peers, the analyst noted. Expectations into Q2 results likely do not embed much upside, potentially creating a positive setup into earnings, but the firm prefers waiting on the sidelines to see more clear signs of the growth improving to get more constructive, the analyst added.
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