Piper Sandler analyst James Fish lowered the firm’s price target on HashiCorp to $34 from $39 and keeps a Neutral rating on the shares. Despite the challenging macro-environment, HashiCorp reported its largest upside ever, Fish tells investors in a research note. The analyst says the company’s raised guidance "still appears overly conservative." However, he stays Neutral citing HashiCorp’s new business trends lack of profitability to support the valuation.
Published first on TheFly
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- HashiCorp price target lowered to $38 from $54 at JMP Securities
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