Elastic price target lowered to $128 from $130 at Barclays

Barclays lowered the firm’s price target on Elastic to $128 from $130 and keeps an Equal Weight rating on the shares. Recently, investors have rediscovered Elastic as a potential artificial intelligence beneficiary, the analyst tells investors in a research note. While this could be true, it will take time to show up in numbers, says the firm. It sees a “mismatch between investor excitement and reported numbers,” which it thinks will pressure the stock in the short term.