Elastic price target lowered to $110 from $125 at Canaccord

Canaccord analyst Kingsley Crane lowered the firm’s price target on Elastic to $110 from $125 and keeps a Buy rating on the shares. The firm said most metrics for Elastic in Q1 were solid, including a beat on both the top and bottom lines but the company experienced broad-based weakness in the final weeks of the quarter, struggling to push deals across the finish line in its first quarter since making some sweeping rep alignment changes within the sales force.