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Fly News Breaks for December 5, 2019
ESTC
Dec 5, 2019 | 05:06 EDT
Jefferies analyst Brent Thill lowered his price target for Elastic to $85 from $90 saying the company last night reported good numbers but "optics around billings likely disappointed investors." However, Elastic's fundamentals are intact, says the analyst, who likes the company's product innovation initiatives aimed at expanding use cases across the platform. Nonetheless, he keeps a Hold rating on the shares due to valuation.
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