Barclays analyst Ryan MacWilliams lowered the firm’s price target on GitLab to $45 from $65 and keeps an Overweight rating on the shares post the Q4 results. The analyst says seat contraction pressures hit Q4 revenue and drove the fiscal 2024 revenue guide well below expectations. The firm still sees a "long-runway" for GitLab, but notes developer spend is "presently faring worse than we anticipated."
Published first on TheFly
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