NEW YORK, Feb 21, 2026, 10:06 EST — Market closed.
- GitLab shares ended Friday sharply lower and near the bottom of their yearly range.
- A Morgan Stanley note trimmed the firm’s price target while keeping a neutral stance.
- Investors now look toward early-March updates from management.
GitLab shares tumbled 8.18% on Friday to close at $26.39, after touching a 52-week low of $26.03 as selling pressure lingered in mid-cap software. The stock is down about 59% over the past year and sits near the bottom of its 52-week range of $26.03 to $64.42. (Investing)
With U.S. markets shut for the weekend, the slide puts GitLab (GTLB) on watch when trading resumes on Monday, after the stock broke below recent levels that had held through much of February.
The move matters now because GitLab has become a proxy for how investors are pricing growth in subscription software — and how quickly they turn when that growth looks less certain.
Morgan Stanley analyst Sanjit Singh lowered his price target on GitLab — an estimate of where a stock could trade over the next year — to $38 from $42 and kept an “Equal Weight” rating, roughly in line with the market. In a note carried by TheFly, Singh wrote that data-infrastructure names have been sold off with software-as-a-service (SaaS), but said his checks “point to sustained demand,” while flagging Snowflake and Elastic as preferred names in the group. (TipRanks)
GitLab said on Thursday that CEO Bill Staples and CFO Jessica Ross will speak at the Morgan Stanley Technology, Media & Telecom Conference in San Francisco on March 5. The fireside chat is scheduled for 9:15 a.m. Pacific Time and will be webcast live, with a replay posted to the company’s investor site for one year, it said. (Business Wire)
GitLab sells tools that help teams build, secure and ship software — what the industry calls DevSecOps, short for development, security and operations. It competes for developers and enterprise budgets with Microsoft-owned GitHub and Atlassian, among others.
Traders will be looking for follow-through in the broader software tape next week, and for any fresh analyst moves after the stock’s drop into the $20s. Read-through from peers on cloud spending, security budgets and deal cycles could also sway sentiment around GTLB.
But the downside is plain: if GitLab’s next update shows weaker subscription momentum or cautious guidance, the stock could extend its slide from a fresh low. A deeper pullback in cloud and security shares would add pressure.
GitLab has said it will report fourth-quarter and full-year fiscal 2026 results after U.S. markets close on Tuesday, March 3, followed by a conference call at 4:30 p.m. ET. (Gitlab)
