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.
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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
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
