Barclays lowered the firm’s price target on Elastic (ESTC) to $100 from $107 and keeps an Overweight rating on the shares. The firm adjusted ratings and price targets in the software group as part of its 2026 outlook. Barclays sees a favorable setup for software in 2026. Macro and IT spending are stable, while stock valuation levels are low and the sector is out of favor, the analyst tells investors in a research note.
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