DA Davidson lowered the firm’s price target on Elastic to $75 from $100 and keeps a Neutral rating on the shares. The company reported a difficult start to the year with weaker than expected customer commitments being driven by segmentation changes at the beginning of the quarter to focus on strategic enterprises and high potential mid-market customers, the analyst tells investors in a research note. The firm is also cutting its FY25 revenue view to $1.44B from $1.47B and its FY26 view to $1.60B from $1.71B as Elastic growth profile has “significantly changed”.
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