Truist analyst Joel Fishbein lowered the firm’s price target on GitLab (GTLB) to $55 from $75 and keeps a Buy rating on the shares. The company produced strong upside in their Q2 results, but the management called out reasons they remain cautious for the second half and reiterated their top line guidance, noting SMB weakness and some one-time impacts to self-managed revenue, the analyst tells investors in a research note. GitLab is also enacting go-to-market changes that all drive a conservative posture in the outlook, Truist added.
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