Elastic (ESTC) Stock Forecast, Price & News

16 Wall Street 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 research analysts is that investors should "buy" ESTC shares.
View ESTC analyst ratings or view top-rated stocks.

16 brokerages have issued twelve-month price targets for Elastic's shares. Their ESTC share price forecasts range from $60.00 to $96.00. On average, they anticipate the company's stock price to reach $75.56 in the next twelve months. This suggests a possible upside of 6.9% from the stock's current price.
View analysts price targets for ESTC or view top-rated stocks among Wall Street analysts.

Elastic's stock was trading at $51.50 at the beginning of 2023. Since then, ESTC stock has increased by 37.2% and is now trading at $70.67.
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Elastic saw a drop in short interest in the month of May. As of May 15th, there was short interest totaling 3,200,000 shares, a drop of 12.3% from the April 30th total of 3,650,000 shares. Based on an average daily trading volume, of 964,100 shares, the days-to-cover ratio is currently 3.3 days. Currently, 4.2% of the company's stock are sold short.
View Elastic's Short Interest.

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 quarterly earnings results on Thursday, June, 1st. The company reported $0.22 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.09 by $0.13. The company earned $279.94 million during the quarter, compared to analyst estimates 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 company's quarterly revenue was up 17.0% on a year-over-year basis. During the same period last year, the company posted ($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), Fidelity Cloud Computing ETF (FCLD), Defiance Quantum ETF (QTUM) and WisdomTree Cloud Computing Fund (WCLD).

Elastic issued an update on its first quarter 2024 earnings guidance on Sunday, June, 4th. The company provided earnings per share (EPS) guidance of $0.10-$0.12 for the period, compared to the consensus EPS 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 $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 number of 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 $70.67.

Elastic (NYSE:ESTC) has a market capitalization of $6.82 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.