GitLab Inc (GTLB) PT Lowered to $55 at Cantor Fitzgerald

Cantor Fitzgerald analyst Jonathan Ruykhaver lowered the price target on GitLab Inc (NASDAQ: GTLB) to $55.00 (from $70.00) while maintaining a Overweight rating.

The analyst commented: "we believe GitLab is a leader in the comprehensive end-to-end providers of software development (Dev), security (Sec), and IT operations (Ops), or DevSecOps platform, seeking to capitalize on secular trends in the consolidation of point products and the Gen-AI wave. We are tracking the ramp of GitLab Duo Enterprise/Pro-enabling Code Suggestions and assignment controls for privacy, as well as Enterprise Agile Planning, as growth vectors to watch. We view GitLab as a net beneficiary in the consolidation of AIpowered DevSecOps toolchains, as customers demand both leading tech innovation while maintaining the lowest total cost of ownership (TCO), a mission GitLab can deliver"

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