BofA analyst Koji Ikeda lowered the firm’s price target on Elastic (ESTC) to $60 from $77 and keeps a Neutral rating on the shares. The firm is lowering price targets for many stocks in its infrastructure software sector coverage to account for meaningful downward revisions to revenue and free cash flow forecasts, its updated views on growth potential, and execution risks from AI and competition, the analyst tells investors.
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: