DA Davidson analyst Gil Luria lowered the firm’s price target on GitLab (GTLB) to $60 from $70 and keeps a Neutral rating on the shares. The firm sees FY26 estimates for the company as “high” with DEN checks cautious about adoption trends of GitLab’s AI add-ons and hesitant to underwrite GitLab’s ability to innovate fast enough across its platform, the analyst tells investors in a research note. DA Davidson adds however that developer data for GitLab showed stable growth suggesting normal business trends.
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