Elastic price target raised to $160 from $155 at Citi

Citi raised the firm’s price target on Elastic to $160 from $155 and keeps a Buy rating on the shares. The firm is positive on Elastic heading into the fiscal Q1 report, expecting to see a “healthy beat and slight raise” for the year with seasonal strength in cloud. Citi remains buyers of the stock, seeing further re-rating potential.