Guggenheim analyst Howard Ma raised the firm’s price target on Elastic (ESTC) to $120 from $100 and keeps a Buy rating on the shares on raised estimates after Elastic “exceeded all key metrics” in fiscal Q2, guided Q3 above expectations, and raised full-year guidance by the aggregate Q2/Q3 upside. The Q2 outperformance was driven by broad-based improvement in consumption trends and closing most of the deals that slipped out of Q1, which bodes well for future consumption, the analyst tells investors.
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Read More on ESTC:
- Elastic price target raised to $120 from $94 at BofA
- Elastic price target raised to $130 from $100 at Piper Sandler
- Elastic price target raised to $130 from $110 at Canaccord
- Elastic price target raised to $135 from $110 at Jefferies
- Elastic upgraded to Outperform from Neutral at Baird
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
