Here's Why Elastic's Shares Are Jumping Today

Shares of Elastic NV (NYSE: ESTC) rose today after the company received a buy rating from Citi analyst Tyler Radke. The company's share price jumped as much as 10.4% during afternoon trading. 

As of 3:15 p.m. EDT, Elastic's stock was up 10.1%.

Investors were happy to see Radke's upgrade today, which also came with a price-target adjustment. The analyst set a new target of $126, up from the previous $90. The resulting bump in Elastic's share price means that the tech company's stock is now up 26% over the past 12 months.

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Source Fool.com