GitLab price target lowered to $35 from $54 at UBS

UBS analyst Karl Keirstead lowered the firm’s price target on GitLab to $35 from $54 and keeps a Buy rating on the shares. The firm said that the debate around the stock has now turned to how conservative the guidance is and whether the valuation multiple is de-risked. UBS said it "clearly" missed this slowdown, despite remaining Buy-rated.