Morgan Stanley analyst Sanjit Singh lowered the firm’s price target on HashiCorp to $40 from $43 and keeps an Equal Weight rating on the shares after its "third straight quarter" of 50%-plus revenue growth. While this speaks to HashiCorp’s improving strategic position in the enterprise, Singh cites mounting headwinds in the IT spending environment for staying at Equal Weight, but adds that risk/reward on the shares "is improving."
Published first on TheFly
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- HashiCorp price target lowered to $38 from $54 at JMP Securities
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