Wells Fargo analyst Andrew Nowinski raised the firm’s price target on Elastic (ESTC) to $150 from $135 and keeps an Overweight rating on the shares. The firm notes shares traded up 15% after hours following strong Q3 results, highlighted by an acceleration in Elastic Cloud growth. GenAI is a key driver, and Wells believes Elastic has one of the more comprehensive platforms capable of winning in this market.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on ESTC:
- Elastic’s Strong Q3 Performance and Strategic Growth Drive Buy Rating
- Elastic N.V. Reports Strong Q3 Fiscal 2025 Results
- Elastic’s Strong Cloud Growth Offset by Uncertainty and High Valuation: Hold Rating Maintained
- DA Davidson technology analyst holds an analyst/industry conference call
- Elastic Appoints Navam Welihinda as New CFO