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Research Alert: CFRA Maintains Hold Rating On Shares Of Gitlab Inc.

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CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:

We lower our target price to $24 from $27, on a forward EV/S of 2.6x our FY 27 (Jan.) sales projection of $1.11 billion. We maintain our FY 27 EPS projection at $0.80 and our FY 28 EPS forecast at $1.04. Earlier this week, GTLB announced a global restructuring plan to optimize its operational footprint, flatten the organization, and reorganize its teams and processes for better efficiency. The company intends to shrink the number of R&D teams and the number of countries by up to 30% where it has small teams, while improving operational efficiency with greater use of AI and automation. Cost savings realized from this global restructuring initiative will be reinvested into accelerating its growth objectives. A transition of this scale adds execution risk to the business in the short term, in our view, although management reaffirmed its FY 27 outlook. The company will provide more details of the financial impact at its upcoming Q1 earnings call on June 2.

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