MoffettNathanson analyst Sterling Auty initiated coverage of HashiCorp with an Outperform rating and $43 price target. The firm sees the potential for HashiCorp’s offerings to thrive as enterprises more actively scrutinize their cloud spending in 2023, given that the solutions can increase developer productivity and save costs, the analyst tells investors in a research note. MoffettNathanson likes the name here given that security, cloud, and automation are top of mind in 2023, and views the topline growth rate as sustainable.
Published first on TheFly
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