Elastic (ESTC) Stock Forecast, Price & News

17 Wall Street analysts have issued "buy," "hold," and "sell" ratings for Elastic in the last twelve months. There are currently 6 hold ratings and 11 buy ratings for the stock. The consensus among Wall Street analysts is that investors should "moderate buy" ESTC shares.
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17 Wall Street analysts have issued 1-year price objectives for Elastic's shares. Their ESTC share price forecasts range from $60.00 to $87.00. On average, they predict the company's stock price to reach $77.76 in the next twelve months. This suggests that the stock has a possible downside of 2.3%.
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Elastic's stock was trading at $51.50 at the beginning of the year. Since then, ESTC stock has increased by 54.5% and is now trading at $79.57.
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Elastic saw a decline in short interest in August. As of August 15th, there was short interest totaling 2,080,000 shares, a decline of 12.6% from the July 31st total of 2,380,000 shares. Based on an average trading volume of 1,270,000 shares, the days-to-cover ratio is presently 1.6 days. Currently, 2.7% of the company's shares are short sold.
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The company is scheduled to release its next quarterly earnings announcement on Wednesday, November 29th 2023.
View our ESTC earnings forecast.

Elastic (NYSE:ESTC) released its quarterly earnings data on Thursday, June, 1st. The company reported $0.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.09 by $0.13. The firm earned $279.94 million during the quarter, compared to analysts' expectations of $277.63 million. Elastic had a negative trailing twelve-month return on equity of 38.73% and a negative net margin of 19.33%. The company's revenue was up 17.0% on a year-over-year basis. During the same period last year, the company earned ($0.64) EPS.

ETFs with the largest weight of Elastic (NYSE:ESTC) stock in their portfolio include WisdomTree Cybersecurity Fund (WCBR), ProShares Big Data Refiners ETF (DAT), TrueShares Technology, AI & Deep Learning ETF (LRNZ), Wedbush ETFMG Global Cloud Technology ETF (IVES), Simplify Volt Cloud and Cybersecurity Disruption ETF (VCLO), WisdomTree Cloud Computing Fund (WCLD), Fidelity Cloud Computing ETF (FCLD) and ALPS O'Shares Global Internet Giants ETF (OGIG).

Elastic updated its FY 2024 earnings guidance on Friday, September, 1st. The company provided earnings per share (EPS) guidance of $1.01-$1.11 for the period, compared to the consensus earnings per share estimate of $0.99. The company issued revenue guidance of $1.24 billion-$1.25 billion, compared to the consensus revenue estimate of $1.24 billion.

81 employees have rated Elastic Chief Executive Officer Shay Banon on Glassdoor.com. Shay Banon has an approval rating of 93% among the company's employees. This puts Shay Banon in the top 30% of approval ratings compared to other CEOs of publicly-traded companies.

Based on aggregate information from My MarketBeat watchlists, some companies that other Elastic investors own include NVIDIA (NVDA), Block (SQ), Fastly (FSLY), Roku (ROKU), Okta (OKTA), DocuSign (DOCU), Trade Desk (TTD), Twilio (TWLO), CrowdStrike (CRWD) and Alibaba Group (BABA).

(ESTC) raised $192 million in an IPO on Friday, October 5th 2018. The company issued 7,000,000 shares at $26.00-$29.00 per share. Goldman Sachs, J.P. Morgan, Barclays and RBC Capital Markets served as the underwriters for the IPO and BofA Merrill Lynch, Citigroup, Jefferies and Canaccord Genuity were co-managers.

Elastic trades on the New York Stock Exchange (NYSE) under the ticker symbol "ESTC."

Elastic's stock is owned by a variety of retail and institutional investors. Top institutional shareholders include Baillie Gifford & Co. (7.79%), BlackRock Inc. (5.15%), Sylebra Capital Ltd (4.71%), Jackson Square Partners LLC (1.91%), State Street Corp (1.27%) and Geode Capital Management LLC (1.14%). Insiders that own company stock include Ashutosh Kulkarni, Carolyn Herzog, Janesh Moorjani, Jonathan Chadwick, Ken Exner, Paul Andrew Appleby, Peter H Fenton, Shay Banon, Steven Schuurman and WH Baird Garrett.
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Shares of ESTC stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include WeBull, Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Robinhood, Fidelity, and Charles Schwab.
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One share of ESTC stock can currently be purchased for approximately $79.57.

Elastic (NYSE:ESTC) has a market capitalization of $7.83 billion and generates $1.07 billion in revenue each year. The company earns $-236,160,000.00 in net income (profit) each year or ($2.24) on an earnings per share basis.

The company employs 2,886 workers across the globe.

Elastic's mailing address is 800 West El Camino Real Suite 350, Mountain View CA, 94040. The official website for the company is www.elastic.co. The company can be reached via phone at (650) 458-2620 or via email at ir@elastic.co.