GitLab slumps 13%; brokerages cut PT on quarterly results

GitLab

11/06/2025 10:15

** Software development platform GitLab GTLB.O slumps 13.2% to $42.12 premarket after beating Q1 revenue estimates

** J.P.Morgan says revenue beat was lowest in co's history; cuts PT to $52 from $58

** Co Q1 revenue $214.5 mln vs $213.2 mln estimates - data compiled by LSEG

** At least five brokerages cut PT

** GTLB faces challenges on talent, and competition from rivals like Agentic AI - JPM

** RBC cuts PT to $62 from $68

** Management did not call out macros, but it'll remain a question for investors with peers mentioning increased macro pressures - RBC

** 26 of 29 analysts rate stock "buy" or higher, three "hold"; median PT is $67 - data compiled by LSEG

** YTD, GTLB down 13.9%

 (Reporting by Twesha Dikshit)

 ((Twesha.Dikshit@thomsonreuters.com))