Canaccord analyst Kingsley Crane lowered the firm’s price target on Elastic (ESTC) to $115 from $120 and keeps a Buy rating on the shares. The firm updated its model following solid Q2 results with incremental Cloud revenues of roughly $10M following through after a strong Q1 performance, aided in part by pricing.
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Read More on ESTC:
- Elastic price target lowered to $76 from $90 at Scotiabank
- Elastic price target lowered to $90 from $111 at BofA
- Elastic price target lowered to $75 from $90 at Wells Fargo
- Elastic price target lowered to $108 from $134 at Stifel
- Balanced Outlook on Elastic: Hold Rating Amid Mixed Growth Metrics and Execution Concerns