GitLab price target lowered to $55 from $60 at Morgan Stanley

Morgan Stanley lowered the firm’s price target on GitLab (GTLB) to $55 from $60 and keeps an Overweight rating on the shares. A smaller beat and decelerating growth in Q3 will weigh on shares, says the analyst, though the firm views the bear case as “overstated” and sees the launch of Duo Agent as a catalyst to improve sentiment. Still, usage-based monetization will take time, the analyst tells investors.