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.
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Published first on TheFly
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