Truist analyst Joel Fishbein raised the firm’s price target on Elastic (ESTC) to $135 from $105 and keeps a Buy rating on the shares. The company’s Q2 results exceeded the firm’s reduced expectations after its lowered revenue guidance last quarter, and the management continues to see strong demand from search and GenAI use cases, along with stronger consumption than expected from larger customers, the analyst tells investors in a research note.
Don't Miss our Black Friday Offers:
- Unlock your investing potential with TipRanks Premium - Now At 40% OFF!
- Make smarter investments with weekly expert stock picks from the Smart Investor Newsletter
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on ESTC:
- AbbVie upgraded, Baidu downgraded: Wall Street’s top analyst calls
- Elastic price target raised to $130 from $120 at Rosenblatt
- Elastic price target raised to $130 from $110 at RBC Capital
- Elastic price target raised to $140 from $125 at Oppenheimer
- Elastic price target raised to $132 from $98 at Stifel