RBC Capital Maintains Outperform on Elastic, Lowers Price Target to $110
Portfolio Pulse from Benzinga Newsdesk
RBC Capital analyst Matthew Hedberg maintains an Outperform rating on Elastic (NYSE:ESTC) but lowers the price target from $135 to $110.

August 30, 2024 | 2:57 pm
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RBC Capital has maintained its Outperform rating on Elastic but has lowered the price target from $135 to $110, indicating a more cautious outlook.
The maintenance of the Outperform rating suggests continued confidence in Elastic's performance, but the lowered price target indicates a more cautious outlook, likely due to market conditions or company-specific factors. This could lead to a short-term negative impact on the stock price as investors adjust expectations.
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IMPORTANCE 80
RELEVANCE 100