Barclays raised the firm’s price target on Elastic (ESTC) to $105 from $95 and keeps an Overweight rating on the shares as part of a earnings preview note for the off-cycle software names. The recent rally in software “complicates the set-up for this quarter,” the analyst tells investors in a research note. The firm says that while “things are a little better” for software, is struggles with the notion that it will be enough to move stocks further post their recent run.
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Read More on ESTC:
- Jefferies Internet and software analyst to hold analyst/industry conference call
- Elastic upgraded to Outperform from Market Perform at William Blair
- DA Davidson software analysts hold an analyst/industry conference call
- Elastic upgraded to Overweight from Equal Weight at Barclays
- Elastic price target lowered to $90 from $106 at Barclays