Truist analyst Joel Fishbein raised the firm’s price target on Elastic (ESTC) to $135 from $105 and keeps a Buy rating on the shares. The company’s Q2 results exceeded the firm’s reduced expectations after its lowered revenue guidance last quarter, and the management continues to see strong demand from search and GenAI use cases, along with stronger consumption than expected from larger customers, the analyst tells investors in a research note.
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