Elastic price target raised to $85 from $75 at Truist

Truist raised the firm’s price target on Elastic to $85 from $75 and keeps a Buy rating on the shares. The firm says conversations with customers and partners indicate the stabilization theme has continued, and while Truist expects solid results, continues to see guidance as posing the biggest risk amidst increased IT buyer scrutiny, the analyst tells investors in a research note.