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Elastic Shares Surge 10% Premarket Despite Price Target Cut by Bank of America
Stock rallies on market enthusiasm amid analyst caution.
Elastic shares jumped 10% in pre-market trading despite Bank of America lowering its price target, citing rising competition in AI infrastructure. The rally underscored strong investor confidence in Elastic’s enterprise data and observability platforms, which continue to gain traction across global clients. Analysts said optimism around AI-powered search capabilities and expanding cloud partnerships is driving renewed momentum, reflecting the company’s resilience and sustained relevance in the fast-evolving AI software ecosystem.