Oppenheimer raised the firm’s price target on Elastic to $110 from $95 and keeps an Outperform rating on the shares. Elastic reported strong Q2 results, beating consensus estimates and guiding above for Q3 revenue behind an acceleration in Elastic Cloud growth and strong margin performance, the analyst tells investors in a research note. Oppenheimer believes Elastic is well-positioned to address the GenAI opportunity.
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Read More on ESTC:
- Elastic (NYSE:ESTC) Skyrockets on Blowout Q2 Performance
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