GitLab price target lowered to $67 from $86 at BTIG

BTIG analyst Gray Powell lowered the firm’s price target on GitLab (GTLB) to $67 from $86 and keeps a Buy rating on the shares. The company delivered solid Q1 results and maintained its revenue outlook for FY26, though investors were hoping for a larger beat and potentially a pass-through raise, the analyst tells investors in a research note. BTIG adds however that GitLab’s underlying metrics such as CRPO and CRPO bookings were strong and the management’s commentary on the macro environment and federal spending was encouraging.