Gitlab falls after TD Cowen downgrades rating to 'hold'

ReutersMar 2, 2026 1:34 PM

Software development firm Gitlab's GTLB.O shares fall 2.7% to $25.60 premarket

TD Cowen cuts rating on stock to "hold" from "buy", citing increasing competitive risks from OpenAI and Anthropic

Cuts PT to $29 from $56, still representing a 10.3% upside to stock's last close

Anthropic's Claude code showing aspirations for being a broader software development platform, OpenAI's Codex to follow suit - TD Cowen

Anthropic and OpenAI encroaching on GTLB's market, moving at breakneck speeds - TD Cowen

Brokerage sees several headwinds for company in FY27

As of last close, shares down nearly 30% YTD, after falling 33.4% in 2025

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