Stifel analyst Brad Reback raised the firm’s price target on Elastic (ESTC) to $134 from $112 and keeps a Buy rating on the shares following a “strong” Q1 report and “healthy” guidance. The firm sees the combination of improving go-to-market execution, stable consumption trends, a large and growing GenAI opportunity, and “conservative” guidance positioning Elastic for more consistent outperformance in upcoming quarters, the analyst tells investors.
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