Baird Maintains Outperform Rating for Elastic: Here's What You Need To Know

Baird has decided to maintain its Outperform rating of Elastic ESTC and lower its price target from $76.00 to $60.00.

Shares of Elastic are trading up 0.62% over the last 24 hours, at $72.74 per share.

A move to $60.00 would account for a 17.51% decline from the current share price.

About Elastic

Elastic is a software company based in Mountain View, California, focusing on search-adjacent products. Its search engine allows it to process both structured and unstructured data while gleaning insights from that data. The firm's primary focus is on enterprise search, observability, and security.

About Analyst Ratings

Analysts work in banking and financial systems and typically specialize in reporting for stocks or defined sectors. Analysts may attend company conference calls and meetings, research company financial statements, and communicate with insiders to publish "analyst ratings" for stocks. Analysts typically rate each stock once per quarter.

Some analysts will also offer forecasts for metrics like growth estimates, earnings, and revenue to provide further guidance on stocks. Investors who use analyst ratings should note that this specialized advice comes from humans and may be subject to error.

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This article was generated by Benzinga's automated content engine and reviewed by an editor.