GitLab price target lowered to $35 from $42 at Truist

Truist lowered the firm’s price target on GitLab (GTLB) to $35 from $42 and keeps a Hold rating on the shares as part of a broader research note on Infrastructure Software names. The sector pullback is being driven almost entirely by concerns over terminal value rather than near term fundamentals, making AI narratives increasingly critical, the analyst tells investors in a research note. The vendors with predominantly seat-based models were the worst performers in the firm’s coverage in 2025, and they have continued to underperform the group through the beginning of 2026, Truist states, adding that it “sees traction” for AI use cases and a business shift away from seat-based deployments as strategic imperatives for these companies.