As previously reported, Macquarie downgraded GitLab (GTLB) to Neutral from Outperform with a price target of $40, down from $70 after Q3 results. Macquarie told investors that it perceives increased risks stemming from choppy execution, segment-specific market weakness and broader market dynamics. The firm added that given the company’s typical beat and raise patterns in prior years, investors will likely continue to be disappointed with the FY26 trajectory.
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