FBN Securities analyst Shebly Seyrafi initiated coverage of HashiCorp with an Outperform rating and $35 price target. The company has built an elegant cloud infrastructure automation stack with its core offerings of Terraform and Vault, which account for over 80% of revenue, but its three emerging and three incubating products that are in the process of being commercialized can drive additional growth in the future, Seyrafi tells investors in a research note.
Published first on TheFly
See the top stocks recommended by analysts >>
Read More on HCP:
- HashiCorp price target lowered to $35 from $40 at Truist
- HashiCorp added to 2023 top picks at Oppenheimer
- Changes at Disney, a Stitch Fix deal among The Information’s 2023 predictions
- HashiCorp management to meet virtually with William Blair
- HashiCorp price target lowered to $40 from $43 at Morgan Stanley
