Gitlab falls after downbeat FY27 profit forecast

Software development firm Gitlab's GTLB.O shares fall 8.8% to $24.35 premarket

Co expects FY 27 adjusted EPS of 76 cents to 80 cents, below analysts' estimates of $1.05 - data compiled by LSEG

At least five brokerages cut PT on stock post results

"We still think greater software creation should be a tailwind for DevSecOps demand, but against rapidly evolving AI tech in the dev space, and new AI-native threats emerging, we think GTLB needs time to prove its position in the AI 2.0 era", TD Cowen analysts said in a note post results

14 of 29 brokerages rate the stock "buy" or higher, 14 "hold" and one "sell"; their median PT is $37 - LSEG data

Up to last close, GTLB is down nearly 29% YTD