UBS lowered the firm’s price target on GitLab (GTLB) to $51 from $60 and keeps a Buy rating on the shares. GitLab delivered Q3 results and a Q4 outlook that came in slightly below expectations, citing SMB softness, go-to-market adjustments, and new delays tied to the federal shutdown, the analyst tells investors in a research note. With growth decelerating and ongoing concerns about potential AI-related disruption, sentiment is likely to stay cautious, the firm says.
TipRanks Cyber Monday Sale
- Claim 60% off TipRanks Premium for data-backed insights and research tools you need to invest with confidence.
- Subscribe to TipRanks' Smart Investor Picks and see our data in action through our high-performing model portfolio - now also 60% off
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on GTLB:
- GitLab price target lowered to $45 from $50 at Wells Fargo
- GitLab: Strong Financial Performance and Strategic Positioning Amidst AI Concerns
- GitLab price target lowered to $42 from $44 at Barclays
- GitLab’s Strategic Adjustments and Long-Term Growth Potential Justify Buy Rating Despite Near-Term Challenges
- GitLab’s Growth Potential and Strategic Positioning Justify Buy Rating