Elastic price target raised to $155 from $145 at Citi

Citi raised the firm’s price target on Elastic to $155 from $145 and keeps a Buy rating on the shares. The analyst says Elastic’s fiscal Q4 earnings print “was refreshing in a tough week for software.” The results saw accelerating sales growth, with robust consumption and bookings trends, strong execution with new ESRE product, and an fiscal 2025 outlook that was better than feared, the analyst tells investors in a research note. Citi continues to see Elastic offering one of the most tangible artificial intelligence monetization paths among consumption names.