GitLab downgraded to Neutral from Buy at Guggenheim

Guggenheim analyst Howard Ma downgraded GitLab (GTLB) to Neutral from Buy without a price target The firm cites the company’s “more pronounced” AI risk and lack of near-term catalysts for the downgrade. GitLab’s net revenue retention has “decelerated significantly” and will exit fiscal 2027 at about 113% versus management’s expectation for about 115%, the analyst tells investors in a research note. GitLab has introduced agentic solutions, but channel checks indicate initial interest is limited, adds Guggenheim. It believes the shares will be range-bound.