Elastic price target raised to $135 from $100 at Wells Fargo

Wells Fargo analyst Andrew Nowinski raised the firm’s price target on Elastic (ESTC) to $135 from $100 and keeps an Overweight rating on the shares. While Elastic’s Q2 results were modestly ahead of expectations, the management changes were viewed as a positive catalyst following recent execution issues, the analyst tells investors in a research note.