GitLab price target lowered to $26 from $45 at Wells Fargo

Wells Fargo lowered the firm’s price target on GitLab (GTLB) to $26 from $45 and keeps an Equal Weight rating on the shares. The firm notes Q4 was better than expected, but the outlook was slightly below, with management viewing FY27 as a year of stabilization. Fundamental views are likely unchanged, and investors are more likely to revisit once execution uncertainty abates and AI revenues become more demonstrable, Wells adds.