GitLab price target lowered to $75 from $80 at Truist

Truist lowered the firm’s price target on GitLab (GTLB) to $75 from $80 and keeps a Buy rating on the shares. The company delivered Q1 results above the guidance range, though the beat was lighter than what investors were looking for, putting pressure on shares afterhours, the analyst tells investors in a research note. The company continued to demonstrate momentum with newer offerings however as they adjust packaging, showcasing their ability to leverage their enterprise foothold into extended sales opportunities, Truist added.