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."
Meet Your ETF AI Analyst
- Discover how TipRanks' ETF AI Analyst can help you make smarter investment decisions
- Explore ETFs TipRanks' users love and see what insights the ETF AI Analyst reveals about the ones you follow.
Published first on TheFly
See the top stocks recommended by analysts >>
Read More on HCP:
- HashiCorp price target lowered to $38 from $54 at JMP Securities
- HashiCorp price target lowered to $42 from $50 at Oppenheimer
- HashiCorp raises FY23 EPS view to (71c)-(69c) from (97c)-(95c), consensus (96c)
- HashiCorp sees Q4 EPS (23c)-(21c), consensus (30c)
- HashiCorp reports Q3 EPS (13c), consensus (31c)