Wedbush analyst Daniel Ives lowered the firm’s price target on Elastic (ESTC) to $110 from $135 and keeps an Outperform rating on the shares. The firm notes Elastic delivered its Q4 results featuring strong beats on the top and bottom line, which will be largely overshadowed by FY26 revenue guidance that came in below Street expectations as enterprises are increasingly integrating GenAI into their operations, while the company is seeing more consumption scrutiny due to the murky macro.
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