Elastic price target raised to $140 from $127 at Scotiabank

Scotiabank raised the firm’s price target on Elastic (ESTC) to $140 from $127 and keeps an Outperform rating on the shares. The company’s Q3 results beat expectations and raised key top and bottom-line metrics, the analyst tells investors. With this being the second quarter in a row of strong execution, the firm believes this should be more than enough to prove the go to market issues are in the rear-view.