GitLab price target lowered to $74 from $76 at Bernstein

Bernstein lowered the firm’s price target on GitLab to $74 from $76 and keeps an Outperform rating on the shares. Monday’s GitLab’s earnings had a stark contrast between appearances of a good quarter with bullish management commentary, and the guided full year 2025 rapid deceleration from an expected 30% Q1 growth to an implicit exit rate near 20%, the firm says. Given management itself is willing to underwrite price increases to offer up 2%-3% lift, this means the implied exit rate may be in the teens without its benefit. And management layered on this commentary suggesting the guidance is “LESS conservative than history,” Bernstein adds.