Piper Sandler downgraded GitLab (GTLB) to Neutral from Overweight with a price target of $28, down from $55. The company’s messaging around fiscal 2027 being a year of finding stabilization and increased sales expenses “will likely create a show me situation for at least the next few quarters,” the analyst tells investors in a research note. Piper believes concerns around GitLab’s growth slowing will prevent investors from buying the selloff.
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