Elastic - ESTC Stock Forecast, Price & News

17 Wall Street research analysts have issued "buy," "hold," and "sell" ratings for Elastic in the last year. There are currently 1 sell rating, 4 hold ratings and 12 buy ratings for the stock. The consensus among Wall Street research analysts is that investors should "buy" ESTC shares.
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17 Wall Street analysts have issued 1-year price targets for Elastic's shares. Their ESTC share price forecasts range from $55.00 to $100.00. On average, they expect the company's share price to reach $77.38 in the next year. This suggests a possible upside of 39.7% from the stock's current price.
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Elastic's stock was trading at $51.50 at the beginning of 2023. Since then, ESTC shares have increased by 7.6% and is now trading at $55.40.
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Elastic saw a decline in short interest in the month of February. As of February 28th, there was short interest totaling 4,660,000 shares, a decline of 5.3% from the February 13th total of 4,920,000 shares. Based on an average daily trading volume, of 1,330,000 shares, the days-to-cover ratio is currently 3.5 days. Currently, 6.1% 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, June 7th 2023.
View our ESTC earnings forecast.

Elastic (NYSE:ESTC) announced its earnings results on Wednesday, December, 1st. The company reported ($0.09) EPS for the quarter, beating the consensus estimate of ($0.16) by $0.07. The company had revenue of $206 million for the quarter, compared to analyst estimates of $194.57 million. Elastic had a negative net margin of 24.80% and a negative trailing twelve-month return on equity of 52.03%. The firm's revenue was up 42.1% on a year-over-year basis. During the same period last year, the firm earned ($0.22) EPS.

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

Elastic issued an update on its FY23 earnings guidance on Thursday, March, 2nd. The company provided earnings per share (EPS) guidance of $0.11-$0.14 for the period, compared to the consensus earnings per share estimate of $0.00. The company issued revenue guidance of $1.065-$1.067, compared to the consensus revenue estimate of $1.07 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 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 a variety of institutional and retail investors. Top institutional investors include Baillie Gifford & Co. (6.13%), Sylebra Capital Ltd (4.78%), Morgan Stanley (4.62%), JPMorgan Chase & Co. (2.52%), Deutsche Bank AG (2.39%) and Jackson Square Partners LLC (1.89%). 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 $55.40.

Elastic (NYSE:ESTC) has a market capitalization of $5.35 billion and generates $862.37 million in revenue each year. The company earns $-203,850,000.00 in net income (profit) each year or ($2.70) 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.