Canaccord raised the firm’s price target on Elastic (ESTC) to $135 from $130 and keeps a Buy rating on the shares. The firm said the company continued its strong momentum from FQ2 into FQ3 with SaaS revenues accelerating with 25.5% yoy growth and NRR holding steady at 112% underpinned by better-than-expected consumption in some larger customers with relatively consistent month-to- month usage trends.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on ESTC:
- Elastic price target raised to $150 from $135 at Wells Fargo
- Elastic’s Strong Q3 Performance and Strategic Growth Drive Buy Rating
- Elastic N.V. Reports Strong Q3 Fiscal 2025 Results
- Elastic’s Strong Cloud Growth Offset by Uncertainty and High Valuation: Hold Rating Maintained
- DA Davidson technology analyst holds an analyst/industry conference call