Elastic price target raised to $140 from $125 at Oppenheimer

Oppenheimer raised the firm’s price target on Elastic (ESTC) to $140 from $125 and keeps an Outperform rating on the shares. After a disappointing fiscal Q1, Elastic reported better than expected Q3 results on broad-based demand and improved sales execution, the analyst tells investors in a research note. The firm says the guidance appears conservative, s setting up achievable or beatable targets.