Canaccord analyst Kingsley Crane lowered the firm’s price target on Elastic to $70 from $82 and keeps a Buy rating on the shares. The analyst said he is still very much a believer in the platform’s cross-sell opportunity, the propensity of its customers to ramp consumption in the cloud faster than on-prem, and for on-prem workloads to shift to the cloud faster than expected.
Published first on TheFly
See the top stocks recommended by analysts >>
Read More on ESTC: