HCP - HashiCorp's Growth Will Rebound To 30%+ Annually Over Years: Analyst | Benzinga
Needham analyst Alex Henderson reiterated a Buy rating on HashiCorp, Inc. (NASDAQ: HCP), raising the price target to $36 from $34.
The "year of efficiency" continues to drive the team-building needed to pave the path for wider Enterprise adoption of Hashi's products, notes the analyst.
HashiCorp reported an Adjusted EPS loss of $(0.10) in Q2 FY24, beating the estimate of $(0.15).
HashiCorp modestly raised guidance across the board, upping the growth outlook ~100 bps to 20%-21% for FY24.
Henderson believes that the raised outlook is prudent considering a stable macro environment Q-Q as cloud programs are a high priority for Enterprises.
However, Hashi's new ...