RBC Capital lowered the firm’s price target on Elastic (ESTC) to $115 from $125 but keeps an Outperform rating on the shares. The company reported solid results as revenue, Elastic Cloud, current RPO and EPS were ahead of expectations, though billings came in lighter, the analyst tells investors in a research note. RBC adds that its reduced price target reflects peer-multiple compression, though the management’s tone was positive around commitment and consumption trends, with a healthy pipeline into the second half of FY26.
Claim 55% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on ESTC:
- Elastic price target lowered to $85 from $94 at Cantor Fitzgerald
- Elastic downgraded to Neutral at Monness Crespi after lack of ‘sizzle’ in Q2
- Elastic downgraded to Neutral from Buy at Monness Crespi
- Elastic price target lowered to $113 from $120 at JPMorgan
- Elastic price target lowered to $110 from $120 at Morgan Stanley