Canaccord lowered the firm’s price target on Elastic to $125 from $130 and keeps a Buy rating on the shares. The firm said they like the setup for Elastic exiting FY24 with FY25 guidance implying growth. Canaccord doesn’t see tough comps in each underlying revenue segment. Product momentum is as strong as its ever been, both in enhancing turnkey o11y and security solutions and in enabling customers to build with LLMs.
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