Truist analyst Joel Fishbein lowered the firm’s price target on Elastic to $85 from $95 but keeps a Buy rating on the shares after its Q2 results. A slowdown that the company saw in October has spurred restructuring actions and a change in their outlook, along with a 13% reduction in their workforce, the analyst tells investors in a research note. Fishbein adds that while a $2B revenue target for FY25 is unlikely, Elastic’s balanced approach "suits the current climate".
Published first on TheFly
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