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.
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Published first on TheFly
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Read More on HCP:
- HashiCorp price target lowered to $38 from $54 at JMP Securities
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