Goldman Sachs lowered the firm’s price target on Elastic (ESTC) to $77 from $100 and keeps a Neutral rating on the shares. While Elastic raised its FY26 revenue guidance, the stock dropped 12% after-hours on Friday, likely reflecting a below-trend total revenue beat and net new cloud revenue down about 15%, the analyst tells investors in a research note.
TipRanks Cyber Monday Sale
- Claim 60% off TipRanks Premium for data-backed insights and research tools you need to invest with confidence.
- Subscribe to TipRanks' Smart Investor Picks and see our data in action through our high-performing model portfolio - now also 60% off
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on ESTC: