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Fly News Breaks for December 5, 2019
ESTC
Dec 5, 2019 | 04:52 EDT
Elastic last night reported a "mixed" quarter as calculated billings growth saw a significant sequential deceleration primarily due to a number of large federal deals pushing out into the following quarter, Stifel analyst Brad Reback tells investors in a research note. The analyst, who continued to believe in Elastic's long-term growth opportunity, points out that even with the 10% after-hours selloff, the stock is trading at nine-times 2021 revenue. The analyst continues to see shares as appropriately valued and he keeps Hold rating on Elastic.
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