Elastic shares are trading lower after the company reported Q3 financial results. Also, Barclays maintained an Equal-Weight rating on the stock and lowered its price target from $130 to $128.
Portfolio Pulse from Benzinga Newsdesk
Elastic's shares dropped following the announcement of their Q3 financial results. Additionally, Barclays has maintained an Equal-Weight rating on Elastic but reduced its price target from $130 to $128.

March 01, 2024 | 12:28 pm
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Elastic's stock price declined after reporting Q3 financial results, and Barclays lowered its price target from $130 to $128 while maintaining an Equal-Weight rating.
The decline in Elastic's stock price is directly attributed to the reported Q3 financial results, which likely did not meet investor expectations. Additionally, the reduction in the price target by Barclays, a significant financial institution, could further influence investor sentiment negatively, despite the maintenance of an Equal-Weight rating. This suggests a cautious outlook from Barclays, which could lead to short-term negative pressure on the stock.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100