Cantor Fitzgerald analyst Jonathan Ruykhaver downgraded GitLab (GTLB) to Neutral from Overweight with a price target of $40, down from $60. Competitive pressure is increasing as Microsoft (MSFT) continues to strengthen GitHub’s regulatory and AI capabilities, eroding GitLab’s historical advantages in enterprise environments, self-hosting, and data residency, the analyst tells investors in a research note. In addition, Cantor says GitLab’s go-to-market execution has been uneven, with a weak mix of first-order customers versus expansions, requiring changes to sales incentives that will take time to translate into improved productivity.
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