GitLab price target lowered to $60 from $80 at Raymond James

Raymond James lowered the firm’s price target on GitLab (GTLB) to $60 from $80 and keeps an Outperform rating on the shares. GitLab posted a “skinnier” beat than prior quarters for growth metrics, and fiscal 2026 guidance was maintained, creating a tactical scenario in which Q1 was below where buyside bogeys were into the print, but Q2 guidance above, the analyst tells investors in a research note. The firm thinks the post-print setup becomes more challenging than expected.