Elastic (ESTC) Stock Forecast, Price & News

16 Wall Street equities research analysts have issued "buy," "hold," and "sell" ratings for Elastic in the last twelve months. There are currently 5 hold ratings and 11 buy ratings for the stock. The consensus among Wall Street equities research analysts is that investors should "buy" ESTC shares.
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16 analysts have issued 12-month price objectives for Elastic's stock. Their ESTC share price forecasts range from $60.00 to $96.00. On average, they expect the company's stock price to reach $75.56 in the next year. This suggests a possible upside of 5.8% from the stock's current price.
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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 38.7% and is now trading at $71.44.
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Elastic saw a decrease in short interest in the month of May. As of May 15th, there was short interest totaling 3,200,000 shares, a decrease of 12.3% from the April 30th total of 3,650,000 shares. Based on an average daily volume of 964,100 shares, the short-interest ratio is currently 3.3 days. Approximately 4.2% of the company's shares are short sold.
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The company is scheduled to release its next quarterly earnings announcement on Thursday, August 24th 2023.
View our ESTC earnings forecast.

Elastic (NYSE:ESTC) announced its earnings results on Thursday, June, 1st. The company reported $0.22 EPS for the quarter, topping analysts' consensus estimates of $0.09 by $0.13. The firm had revenue of $279.94 million for the quarter, compared to analysts' expectations of $277.63 million. Elastic had a negative net margin of 22.09% and a negative trailing twelve-month return on equity of 46.75%. The firm's revenue for the quarter was up 17.0% compared to the same quarter last year. During the same period last year, the company earned ($0.64) earnings per share.

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), Defiance Quantum ETF (QTUM), Fidelity Cloud Computing ETF (FCLD) and WisdomTree Cloud Computing Fund (WCLD).

Elastic updated its first quarter 2024 earnings guidance on Sunday, June, 4th. The company provided earnings per share guidance of $0.10-$0.12 for the period, compared to the consensus earnings per share estimate of $0.13. The company issued revenue guidance of $283.00 million-$286.00 million, compared to the consensus revenue estimate of $285.85 million.

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 a price of $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 many different institutional and retail investors. Top institutional shareholders include Baillie Gifford & Co. (7.91%), FMR LLC (7.10%), BlackRock Inc. (5.70%), Sylebra Capital Ltd (4.88%), FIL Ltd (3.50%) and JPMorgan Chase & Co. (2.45%). Insiders that own company stock include Ashutosh Kulkarni, Carolyn Herzog, Janesh Moorjani, Jonathan Chadwick, Ken Exner, Kevin Kluge, 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 $71.44.

Elastic (NYSE:ESTC) has a market capitalization of $6.89 billion and generates $1.07 billion in revenue each year. The company earns $-236,160,000.00 in net income (profit) each year or ($2.48) on an earnings per share basis.

The company employs 2,978 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.