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.
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