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HashiCorp (NASDAQ:HCP – Free Report) had its price target lifted by Piper Sandler from $25.00 to $35.00 in a report published on Thursday morning, Benzinga reports. They currently have a neutral rating on the stock. Other analysts have also recently issued reports about the company. TD Cowen boosted their price objective on HashiCorp from $23.00 […] ....
When IBM announced its intention to acquire HashiCorp for $6.4 billion on Wednesday at market close, it was easy to conclude that the two companies should fit well together, but a deal comes down to more than strategy. In his meeting with analysts after Wednesday's announcement, IBM CEO Arvind Krishna saw HashiCorp as a critical piece of IBM's hybrid cloud management strategy, especially as it relates to generative AI. IDC analyst Stephen Elliot sees many companies using both Red Hat and HashiCorp infrastructure automation tools already, and putting the two sets of tools together makes sense for IBM. ....
IBM s $6.4B acquisition of HashiCorp bolsters its AI presence through cloud expansion, despite Q1 revenue missing estimates. The deal, funded by cash, aligns with IBM s strategic focus on AI and cloud technologies. ....