Is Beaten-Down GitLab Stock a Buy as Revenue Growth Remains Strong?

GitLab stock has declined about a third in value over the past year despite delivering solid fiscal Q1 results with 23% year-over-year revenue growth to $264.2 million, exceeding guidance. The DevSecOps company is seeing strong enterprise customer growth and new revenue streams from its Duo Agentic Platform, while raising full-year fiscal 2027 guidance. However, the company is cutting 14% of its workforce and exiting 22 countries. The analyst views the stock as undervalued at a 4.1 price-to-sales multiple and recommends buying at current levels.