Stifel lowered the firm’s price target on Elastic (ESTC) to $112 from $140 and keeps a Buy rating on the shares. While initial FY26 revenue guidance fell below expectations causing the stock to trade off in the after-hours session, the firm notes that management factored in “what appear to be prudent assumptions” by extrapolating the public sector weakness to the broader business and the potential for consumption headwinds in coming quarters, with the analyst adding that the firm sees guidance as “conservative.”
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Read More on ESTC:
- Elastic price target lowered to $115 from $120 at Morgan Stanley
- Elastic’s Growth Potential Highlighted by Strong Q4 Performance and AI Initiatives Despite Short-Term Challenges
- Elastic price target lowered to $120 from $135 at Piper Sandler
- Elastic’s Conservative FY26 Revenue Guidance and Market Conditions Justify Hold Rating
- Elastic’s Strategic Initiatives and GenAI Momentum Justify Buy Rating Despite Conservative FY26 Outlook
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