GitLab slumps; brokerages cut PT following quarterly results

Software development platform GitLab GTLB.O falls 7.3% to $44.97 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 14 brokerages cut PT

GTLB faces challenges with 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%