Barclays Maintains Equal-Weight on Elastic, Lowers Price Target to $106
Portfolio Pulse from Benzinga Newsdesk
Barclays analyst Raimo Lenschow maintains an Equal-Weight rating on Elastic (NYSE:ESTC) but lowers the price target from $117 to $106.

August 30, 2024 | 3:13 pm
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Barclays has maintained its Equal-Weight rating on Elastic but has lowered the price target from $117 to $106, indicating a more cautious outlook.
The lowering of the price target by Barclays suggests a more cautious outlook on Elastic's future performance, which could lead to a short-term negative impact on the stock price. The Equal-Weight rating indicates a neutral stance, but the reduced price target may influence investor sentiment negatively.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100