RBC Capital analyst Matthew Hedberg lowered the firm’s price target on GitLab (GTLB) to $62 from $68 and keeps an Outperform rating on the shares. The company delivered results ahead of guidance, though the revenue beat was lower-than-expected while the FY26 revenue guide was maintained, the analyst tells investors in a research note. There were no surprises in the quarter though the management highlighted dynamics around a higher SaaS mix, linearity, and fewer days this quarter, and while the macro backdrop remains on investors’ minds, the firm remains optimistic on company-specific drivers, RBC added.
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