Piper Sandler raised the firm’s price target on Elastic (ESTC) to $125 from $120 and keeps an Overweight rating on the shares. The firm notes the company added to the recent set of strong AI infrastructure prints, highlighted by cloud revenue accelerating 180bps to 24% year-over-year growth. Positive impacts from GTM changes, solid consumption trends and price increases helped drive a strong quarter on both cloud and self-hosted, leading to a raise to the full-year guide, Piper adds.
Meet Your ETF AI Analyst
- Discover how TipRanks' ETF AI Analyst can help you make smarter investment decisions
- Explore ETFs TipRanks' users love and see what insights the ETF AI Analyst reveals about the ones you follow.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on ESTC:
- Elastic’s Revenue Growth Amid Price Hike Sparks Hold Rating Due to Uncertainty
- Elastic’s Strong Q1 Performance and Strategic Advances Justify Buy Rating
- Elastic price target raised to $125 from $110 at Jefferies
- Elastic price target raised to $125 from $105 at Barclays
- Elastic N.V. Reports Strong Q1 Fiscal 2026 Growth