GitLab (GTLB) demand environment looks "uneven" although circumstances have remained "generally stable" in recent times, RBC said in a note Monday.

The company's prime focus for fiscal 2026 is around client acquisition, majorly in mid-market and enterprise to which management highlighted an agreement with Anthropic and a displacement at a cybersecurity firm, analysts led by Matthew Hedberg wrote.

"The next objective is around unlocking value faster through products and hyperscaler partnerships to increase usage over time," the analysts said.

GitLab's last focus is speeding up innovation as it intends to invest in the core platform, differentiated security and compliance capabilities and artificial intelligence innovation, the note said.

RBC maintained its outperform rating and $80 price target on GitLab's stock.

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