GitLab price target lowered to $55 from $60 at Cantor Fitzgerald

Cantor Fitzgerald lowered the firm’s price target on GitLab to $55 from $60 and keeps an Overweight rating on the shares. GitLab delivered a sequentially stronger Q2, up 7.9% in revenue quarter over quarter, with its outperformance demonstrating the power of its comprehensive AI DevSecOps solution, effective developer’s security, and the care to listen closely to customers’ needs to work new functionalities into the platform, the analyst tells investors in a research note. The firm views GitLab as a net beneficiary in the consolidation of AI powered DevSecOps toolchains.