Gitlab (GTLB) Falls 9.3% on Critical Security Concerns

GitLab Inc. (NASDAQ:GTLB) is one of the stocks drowned heavily. Are you holding any?

GitLab saw its share price drop by 9.3 percent week-on-week, as investor sentiment turned cautious following the release of several critical patches to address vulnerabilities.

In a statement posted on its website last week, GitLab said the most critical flaw carries a CVSS (Common Vulnerability Scoring System) score of 8.7, considered highly severe, as it could allow hackers to execute malicious actions on behalf of its users through content injection.

Another one, rated medium, could allow restriction bypass through API manipulation.

Two others with low severity scores were also addressed, which could allow authenticated users to bypass various group-level restrictions through crafted API requests or manipulation of group invitation functionality.

GitLab Inc. (NASDAQ:GTLB) urged all its users to immediately upgrade all self-managed installations to the latest security patches.

In other news, GitLab Inc. (NASDAQ:GTLB) remained a stock “buy” for BofA Securities, giving the company a whopping price target of $72, marking a 71.3-percent upside from its last closing price of $42.03.

BofA Securities said it was optimistic about the company’s duo strategy, which it expected to drive higher adoption of premium paid tiers and add-on AI products such as Duo Pro, Duo Enterprise, and the Agent Platform.

While we acknowledge the potential of GTLB as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the best short-term AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.