Elastic - ESTC Stock Forecast, Price & News

16 Wall Street analysts have issued "buy," "hold," and "sell" ratings for Elastic in the last twelve months. There are currently 1 sell rating, 4 hold ratings and 11 buy ratings for the stock. The consensus among Wall Street analysts is that investors should "buy" ESTC shares.
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16 brokers have issued 1-year price targets for Elastic's shares. Their ESTC share price forecasts range from $62.00 to $124.00. On average, they anticipate the company's share price to reach $82.50 in the next twelve months. This suggests a possible upside of 29.1% 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 24.1% and is now trading at $63.92.
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Elastic saw a increase in short interest in the month of December. As of December 30th, there was short interest totaling 4,840,000 shares, an increase of 68.6% from the December 15th total of 2,870,000 shares. Based on an average daily volume of 1,510,000 shares, the short-interest ratio is presently 3.2 days. Approximately 6.4% of the company's shares are sold short.
View Elastic's Short Interest.

The company is scheduled to release its next quarterly earnings announcement on Thursday, March 2nd 2023.
View our ESTC earnings forecast.

Elastic (NYSE:ESTC) released its quarterly earnings results on Wednesday, November, 30th. The company reported ($0.50) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.60) by $0.10. The business had revenue of $264.40 million for the quarter, compared to analyst estimates of $261.25 million. Elastic had a negative trailing twelve-month return on equity of 53.77% and a negative net margin of 24.46%.

Elastic updated its third quarter 2023 earnings guidance on Friday, December, 30th. The company provided EPS guidance of $0.04-$0.07 for the period, compared to the consensus estimate of -$0.04. The company issued revenue guidance of $272.00 million-$274.00 million, compared to the consensus revenue estimate of $277.43 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 initial public offering (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 acted 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 shareholders include Baillie Gifford & Co. (6.18%), WCM Investment Management LLC (0.29%), Mawer Investment Management Ltd. (0.28%), Loup Funds LLC (0.17%), Osborne Partners Capital Management LLC (0.13%) and New York State Common Retirement Fund (0.10%). Insiders that own company stock include Ashutosh Kulkarni, Carolyn Herzog, Janesh Moorjani, Jonathan Chadwick, Kevin Kluge, Paul Andrew Appleby, Peter H Fenton, Shay Banon, Steven Schuurman and WH Baird Garrett.
View institutional ownership trends.

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 $63.92.

Elastic (NYSE:ESTC) has a market capitalization of $6.11 billion and generates $862.37 million in revenue each year. The company earns $-203,850,000.00 in net income (profit) each year or ($2.55) 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.