Baird Downgrades Elastic to Neutral, Lowers Price Target to $95
Portfolio Pulse from Benzinga Newsdesk
Baird analyst Shrenik Kothari has downgraded Elastic (NYSE:ESTC) from Outperform to Neutral and reduced the price target from $135 to $95.

August 30, 2024 | 9:16 am
News sentiment analysis
Sort by:
Ascending
NEGATIVE IMPACT
Baird analyst Shrenik Kothari downgraded Elastic from Outperform to Neutral, reducing the price target from $135 to $95, indicating a less optimistic outlook.
The downgrade from Outperform to Neutral by a reputable analyst like Baird suggests a less favorable view on Elastic's future performance. The significant reduction in the price target from $135 to $95 indicates potential downside risk, likely leading to a negative short-term impact on the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100