KeyBanc initiated coverage of Elastic (ESTC) with a Sector Weight rating and no price target Elastic is a leading data and analytics platform that is “highly flexible” and capable of addressing numerous use cases, including search, observability, and security, the analyst tells investors in a research note. The firm says that while the company’s platform supports several use cases, it is not as differentiated in observability and SIEM. Elastic faces go-to-market challenges to successfully compete in each “highly competitive” market, contends KeyBanc.
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