Stock Track | GitLab, Inc. Plummets 6.66% Amid Concerns Over Profitability in AI Software Sector

Stock Track12-11

GitLab, Inc. (GTLB) shares plummeted 6.66% in Tuesday's intraday session, underperforming the broader market. The stock's decline comes amid concerns over the profitability of AI software companies, as highlighted by an analyst's cautious remarks on C3.ai, a key player in the sector.

J.P. Morgan analyst Pinjalim Bora raised the firm's price target on C3.ai but maintained a "neutral" rating, citing the company's "extreme unprofitability" compared to its peers. Despite C3.ai's revenue growth being in line with the industry median, the analyst noted that the company operates at a much smaller scale and continues to report net losses, unlike its more profitable counterparts.

While the analyst's comments were specific to C3.ai, they seem to have sparked broader concerns about the profitability challenges faced by AI software companies, including GitLab. As a result, investors may be reassessing the valuations of these companies, leading to a sell-off in the sector.

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Plummets 6.66% Amid Concerns Over Profitability in AI Software Sector\n</h2>\n\n<h4 class=\"meta\">\n\n2024-12-11 02:40 北京时间&nbsp;&nbsp;&nbsp;<strong>Stock Track</strong>\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>GitLab, Inc. (GTLB) shares plummeted 6.66% in Tuesday's intraday session, underperforming the broader market. 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