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Elastic price target raised to $125 from $106 at RBC Capital

RBC Capital analyst Matthew Hedberg raised the firm’s price target on Elastic (ESTC) to $125 from $106 and keeps an Outperform rating on the shares. The company posted a strong start to the year vs. expectations with a beat across the board and raise to FY26 expectations as macros appear to be stable, the analyst tells investors in a research note. The highlights for the quarter included solid Gen-AI traction driving usage expansion, security displacements and a small price increase, the firm added.

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