Elastic price target raised to $130 from $110 at Canaccord

Canaccord analyst Kingsley Crane raised the firm’s price target on Elastic (ESTC) to $130 from $110 and keeps a Buy rating on the shares. The firm said Elastic bounced back with a vengeance in its FQ2 after what had been a disappointing FQ1 that included an FY guidance cut and cautious commentary on the firm’s sales reorganization.