Citi analyst Tyler Radke maintains $Elastic (ESTC.US)$ with a buy rating, and adjusts the target price from $160 to $136.
According to TipRanks data, the analyst has a success rate of 53.1% and a total average return of 7.0% over the past year.
Furthermore, according to the comprehensive report, the opinions of $Elastic (ESTC.US)$'s main analysts recently are as follows:
Management commentary intra-quarter around deal closure and the ongoing momentum from an ESRE product cycle has been described as 'largely positive.' Additionally, strong demand for ESRE, balanced by lingering small business challenges, has been noted based on conversations with partners. Heading into the fiscal Q2 report, there's optimism surrounding the company's recovery from earlier go-to-market challenges observed in Q1.
The recent upturn in software stocks complicates projections for this quarter. It's noted that the situation for software has improved slightly, however, there is skepticism regarding whether this improvement is substantial enough to propel stocks further following their recent strong performance.
Note:
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