Rosenblatt Cuts Elastic Price Target to $110, Cites Multiple Compression and Macroeconomic Pressure
Rosenblatt Securities reduced its price target for Elastic N.V. (ESTC) to $110 from $130 but retained a Buy rating, pointing to recent comparable multiple compression and macroeconomic concerns affecting enterprise software. The stock trades near its 52-week low, while the company has announced product advances including Agent Builder and AWS-focus…