Morgan Stanley Lowers Price Targets for Three Software Stocks Following Earnings Reports
Following recent earnings reports, Morgan Stanley reduced its price targets on three software stocks—Elastic (ESTC), UiPath (PATH), and PagerDuty (PD)—while maintaining an Equal Weight rating. The firm highlighted strong bookings growth at Elastic but noted that investors may be waiting for AI-driven revenue recognition before upgrading valuations.
Topics: AI adoption earnings reports price targets software stocks