Barclays Downgrades GitLab to Equal-Weight, Lowers Price Target to $50
Portfolio Pulse from Benzinga Newsdesk
Barclays analyst Ryan Macwilliams has downgraded GitLab (NASDAQ:GTLB) from Overweight to Equal-Weight and reduced the price target from $65 to $50, indicating a more cautious outlook on the company's stock.
November 17, 2023 | 6:35 pm
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Barclays analyst Ryan Macwilliams downgraded GitLab from Overweight to Equal-Weight and lowered the price target from $65 to $50, suggesting a bearish view on the stock's short-term potential.
Analyst downgrades typically lead to a negative perception among investors, as they suggest a less optimistic outlook on the company's future performance. The reduction in price target from $65 to $50 by Barclays is a significant adjustment, which may lead to a decrease in investor confidence and a potential drop in the stock price in the short term.
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