Citigroup Maintains Buy on Elastic, Lowers Price Target to $155
Portfolio Pulse from Benzinga Newsdesk
Citigroup analyst Tyler Radke maintains a Buy rating on Elastic (NYSE:ESTC) but lowers the price target from $165 to $155.

March 04, 2024 | 1:15 pm
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Citigroup maintains a Buy rating on Elastic but lowers the price target from $165 to $155.
While the reduction in price target from $165 to $155 by Citigroup could suggest a slight adjustment in valuation expectations, the maintenance of a Buy rating indicates a continued positive outlook on Elastic's fundamentals. This mixed signal might lead to a neutral short-term impact on ESTC's stock price as investors weigh the lowered price target against the reaffirmed confidence in the company's performance.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100