Gitlab Shares Range-Bound in Near-Term, RBC Capital Markets Says

MT Newswires Live04-20

Gitlab (GTLB) shares will be range-bound with limited near-term upside to estimates due to multiple headwinds, RBC Capital Markets said in a Monday research report.

Challenges include difficult premium-price increase compares, first-order sales transition risks, rising corporate layoffs, geopolitical volatility, and competitor concerns, the analysts said.

While the long-term opportunity as a DeVSecOps platform is lucrative and the Duo Agent platform could serve as a medium-term catalyst, it does not contribute to short-term results, according to the report.

RBC downgraded the stock to sector perform from outperform and cut its price target to $25 per share from $33.

Price: 21.33, Change: -0.09, Percent Change: -0.42

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