Elastic price target raised to $100 from $85 at Truist

Truist raised the firm’s price target on Elastic to $100 from $85 and keeps a Buy rating on the shares. The company’s Q2 earnings beat was “impressive”, reflecting strength in Elastic Cloud due to broad-based stabilization in consumption trends, the analyst tells investors in a research note. Truist adds that it was also incrementally more positive on Elastic’s growth stabilization based on its earnings call commentary.