Stifel lowered the firm’s price target on Elastic (ESTC) to $112 from $140 and keeps a Buy rating on the shares. While initial FY26 revenue guidance fell below expectations causing the stock to trade off in the after-hours session, the firm notes that management factored in “what appear to be prudent assumptions” by extrapolating the public sector weakness to the broader business and the potential for consumption headwinds in coming quarters, with the analyst adding that the firm sees guidance as “conservative.”
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Read More on ESTC:
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