GitLab price target lowered to $50 from $60 at Guggenheim

Guggenheim lowered the firm’s price target on GitLab (GTLB) to $50 from $60 and keeps a Buy rating on the shares. The firm, which is “patiently awaiting management to disprove structural concerns,” says its lowered target reflects lowered forecasts. However, it adds that a new $400M share buyback program should provide near-term support.