HashiCorp price target lowered to $42 from $50 at Oppenheimer

Oppenheimer analyst Ittai Kidron lowered the firm’s price target on HashiCorp to $42 from $50 and keeps an Outperform rating on the shares. The analyst notes HashiCorp reported a strong Q3, beating estimates behind broad-based demand and accelerating growth in revenue from over $100K in ARR customers. Overall, Kidron comes away "encouraged by the results" and the greater focus on improving margins by moderating investment and focusing on driving GTM efficiencies. He remains bullish and sees a measured Q4 guidance that positions the shares for potential upside.