Reported 3 days ago
UBS has resumed its coverage on Elastic N.V. (ESTC) with a Buy rating and a price target of $95.00, down from $148.00. After evaluating market conditions through industry checks, UBS found a steady demand for Elastic's services, noting that the company could achieve growth rates of 15-16% in favorable scenarios. While optimistic about the future AI landscape for Elastic, UBS warns that significant GenAI opportunities may still be 1-2 years out, emphasizing the potential risks from competition but suggesting the current valuation largely reflects these concerns.
Source: YAHOO