DA Davidson analyst Gil Luria lowered the firm’s price target on GitLab to $50 from $65 and keeps a Neutral rating on the shares. The company reported a good quarter in a tumultuous environment for software as stable demand, continued seat expansion, and strength in the enterprise drove results, but while GitLab continues to benefit from consolidation trends, the adoption of its new AI features is taking time to benefit revenue and the upside to the trajectory of growth could be farther away, the analyst tells investors in a research note.
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