GitLab Analysts Slash Their Forecasts After Q1 Results

Group 1 - GitLab reported better-than-expected first-quarter results with earnings of 17 cents per share, surpassing the analyst consensus estimate of 15 cents [1][2] - Quarterly revenue reached $214.51 million, exceeding the Street estimate of $213.16 million [1] - For the second quarter, GitLab expects adjusted EPS between 16 and 17 cents and revenue between $226 million and $227 million, both below analyst estimates [2] Group 2 - Following the earnings announcement, GitLab shares fell 0.3% to close at $48.51 [3] - Analysts adjusted their price targets for GitLab, with several maintaining a Buy rating but lowering targets significantly [8] - Price targets were revised down from a range of $52 to $85 to a new range of $55 to $73 by various analysts [8]