Elastic price target raised to $140 from $130 at RBC Capital

RBC Capital raised the firm’s price target on Elastic (ESTC) to $140 from $130 and keeps an Outperform rating on the shares. The company posted another solid quarter, bouncing back from its early-year execution issues, while its strength was broad-based and its sales execution is back at pre-reorg levels, the analyst tells investors in a research note. RBC adds that consumption trends for Elastic were healthy again, especially for larger customers.