Canaccord Genuity Maintains Buy Rating for Elastic: Here's What You Need To Know
Portfolio Pulse from Benzinga Insights
Canaccord Genuity has maintained its Buy rating for Elastic (NYSE:ESTC) and raised its price target from $70.00 to $79.00. Elastic's shares are currently trading at $71.86, down 0.6% over the last 24 hours.
June 06, 2023 | 5:03 pm
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Canaccord Genuity maintains Buy rating for Elastic (NYSE:ESTC) and raises price target from $70.00 to $79.00. Shares are trading down 0.6% at $71.86.
The maintained Buy rating and increased price target by Canaccord Genuity indicate a positive outlook for Elastic's stock. This news is likely to have a positive impact on the stock price in the short term, as it suggests that the analyst believes the company's shares are undervalued and have potential for growth. The 9.94% increase in the price target also signals that the analyst sees potential upside for the stock.
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IMPORTANCE 80
RELEVANCE 100