TD Cowen lowered its price target on Elastic NV (NYSE:ESTC) to $55 from $60 while maintaining a Hold rating. The stock currently trades at $57.61.
Analyst Andrew Sherman noted that cloud revenues missed expectations, declining $1 million quarter-over-quarter. Sales-Led Subscription revenue beat guidance by $2 million, below the prior quarter's $10 million beat.
Elastic maintains impressive gross profit margins of 76% and posted 17% revenue growth over the last twelve months. The company's fiscal 2027 Sales-Led guidance of ~17% in constant currency exceeded TD Cowen's 15% estimate.
According to Bond.az, Elastic remains on the list of most undervalued stocks with a Fair Value of $66.90.
