GitLab price target lowered to $42 from $44 at Truist

Truist analyst Miller Jump lowered the firm’s price target on GitLab (GTLB) to $42 from $44 and keeps a Hold rating on the shares. The company produced upside in its Q3 results but kept a lid on their Q4 outlook, officially guiding to revenue growth below 20% y/y for the first time since IPO, the analyst tells investors in a research note. The management called out small-business weakness and incremental public sector headwinds from the U.S. Government shutdown that disrupted deal timelines, with the outlook also reflecting conservatism around the recent strategic changes, Truist added.