Elastic price target lowered to $137 from $140 at Scotiabank

Scotiabank analyst Patrick Colville lowered the firm’s price target on Elastic (ESTC) to $137 from $140 and keeps an Outperform rating on the shares. After the rough start to 2025 in software, the firm is updating its checks on the technology sector, the analyst tells investors. When IT leaders at large companies were asked whether IT buying decisions have changed or slowed in March 2025 due to macroeconomic uncertainty, 90% said no, the firm adds.