Morgan Stanley raised the firm’s price target on Elastic (ESTC) to $120 from $115 and keeps an Overweight rating on the shares. Q1 total revenue growth of 18% was ahead of consensus, notes the analyst, who sees the AI Search opportunity progressing as the security business is “finding its stride.” This “1-2 punch” paves the way for further revisions against “conservative” FY26 guidance, the analyst tells investors.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on ESTC:
- Elastic’s Growth Potential: Buy Rating Backed by Revenue Acceleration and AI Search Opportunities
- Elastic’s Balanced Growth Potential Amid Pricing Strategy and Execution Risks
- Elastic price target raised to $125 from $120 at Piper Sandler
- Elastic price target raised to $120 from $110 at Canaccord
- Elastic’s Revenue Growth Amid Price Hike Sparks Hold Rating Due to Uncertainty