GitLab Analysts Slash Their Forecasts After Q1 Results

GitLab, Inc. GTLB posted better-than-expected first-quarter results and issued second-quarter sales guidance with its midpoint below estimates on Tuesday.

GitLab reported quarterly earnings of 17 cents per share, which beat the analyst consensus estimate of 15 cents. Quarterly revenue came in at $214.51 million, which beat the Street estimate of $213.16 million.

"First quarter fiscal year 2026 results underscore the power of our AI-native DevSecOps platform to help customers deliver mission-critical software. We're giving every developer the AI-driven edge they need to innovate faster and more efficiently," said Bill Staples, GitLab CEO.

GitLab sees second-quarter adjusted EPS of between 16 and 17 cents, versus the 16 cent estimate, and revenue of between $226 million and $227 million, versus the $227.16 million analyst estimate.

GitLab shares fell 0.3% to close at $48.51 on Tuesday.

These analysts made changes to their price targets on GitLab following earnings announcement.

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Needham analyst Mike Cikos maintained GitLab with a Buy and lowered the price target from $85 to $55.
BTIG analyst Gary Powell maintained the stock with a Buy and lowered the price target from $86 to $67.
Wells Fargo analyst Michael Turrin maintained GitLab with an Overweight rating and lowered the price target from $65 to $60.
UBS analyst Karl Keirstead maintained the stock with a Buy and lowered the price target from $85 to $73.
Scotiabank analyst Nick Altmann maintained GitLab with a Sector Outperform and lowered the price target from $67 to $60.
JP Morgan analyst Pinjalim Bora maintained the stock with a Neutral and lowered the price target from $58 to $52.

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