NEW YORK, Feb 21, 2026, 10:06 EST — The market is now closed.
- GitLab shares slumped on Friday, finishing close to their lowest levels of the year.
- Morgan Stanley lowered its price target but stuck to its neutral rating in the latest note.
- Next up, investors are waiting on management’s early-March updates.
GitLab ended Friday down 8.18% at $26.39, sliding to a 52-week low of $26.03 during the session as mid-cap software names continued to face heavy selling. Shares have lost roughly 59% in the past year and now hover just above the lower end of their 52-week range, which spans $26.03 to $64.42. 1
U.S. markets are closed for the weekend, but GitLab (GTLB) lands on watch for Monday’s session. The stock just slipped beneath support it had managed to hold throughout most of February.
GitLab is suddenly in the spotlight, serving as a kind of barometer for investor sentiment toward subscription software growth—and just how abruptly that mood can shift when the outlook gets cloudy.
Morgan Stanley’s Sanjit Singh cut his price target on GitLab to $38 from $42 but left his “Equal Weight” call unchanged, keeping it in line with the broader market view. Singh’s note, cited by TheFly, pointed out that data-infrastructure stocks have been hit along with the rest of SaaS, though his channel checks “point to sustained demand.” He also highlighted Snowflake and Elastic as his top picks among the group. 2
GitLab announced Thursday that CEO Bill Staples and CFO Jessica Ross are set to appear at the Morgan Stanley Technology, Media & Telecom Conference in San Francisco on March 5. Their fireside chat kicks off at 9:15 a.m. Pacific, and investors can catch a live webcast—or watch the replay, which will stay up on GitLab’s investor site for a year. 3
GitLab provides tools for teams to build, secure, and deploy software—what’s known as DevSecOps, short for development, security, and operations. The company goes up against Microsoft’s GitHub, Atlassian, and other rivals for developer and enterprise spending.
The focus shifts to whether the broader software names see renewed momentum next week, with traders also eyeing possible analyst updates following the stock’s slide to the $20s. Updates from other companies on cloud budgets, security spend, and deal timing may end up steering sentiment toward GTLB.
The risk stands out: any sign of softer subscription growth or a cautious outlook in GitLab’s next update, and shares could easily tumble further from their recent low. Extra selling in cloud and security names would only pile on.
GitLab plans to release its fourth-quarter and full-year fiscal 2026 numbers after the U.S. market wraps up on Tuesday, March 3. The conference call is set for 4:30 p.m. ET. 4
