DA Davidson lowered the firm’s price target on Elastic (ESTC) to $100 from $105 and keeps a Neutral rating on the shares. The firm virtually attended the company’s 2025 Analyst Day, where new product announcements and financial targets make Davidson incrementally positive towards Elastic’s opportunity to benefit from Generative AI tailwinds over the medium term. Elastic has a large market opportunity in front of it, but the firm continues to see shares adequately reflecting its growth profile and remains on the sidelines.
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