GitLab price target lowered to $60 from $70 at Cantor Fitzgerald

Cantor Fitzgerald lowered the firm’s price target on GitLab (GTLB) to $60 from $70 and keeps an Overweight rating on the shares. Gitlab delivered solid Q1 results, outperforming consensus estimates on revenue, operating income, billings, and free cash flow, with the beat driven by GitLab Ultimate adoption and improved cost efficiencies, the analyst tells investors in a research note. While there may be some near-term shift in priorities toward AI-assisted code generation, this is only one part of the broader development lifecycle, Cantor argues.