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Elastic (ESTC) Stock Forecast & Price Target

$122.27
+1.66 (+1.38%)
(As of 07/12/2024 ET)

Elastic - Analysts' Recommendations and Stock Price Forecast (2024)

MarketBeat calculates consensus analyst ratings for stocks using the most recent rating from each Wall Street analyst that has rated a stock within the last twelve months. Each analyst's rating is normalized to a standardized rating score of 1 (sell), 2 (hold), 3 (buy) or 4 (strong buy). Analyst consensus ratings scores are calculated using the mean average of the number of normalized sell, hold, buy and strong buy ratings from Wall Street analysts. Each stock's consensus analyst rating is derived from its calculated consensus ratings score (0 to .5 = Strong Sell, .5 to 1 = Sell, 1 to 1.5 = Reduce, 1.5 to 2.5 = Hold, 2.5 to 3.0 = Moderate Buy, 3.0 to 3.5 = Buy, >3.5 = Strong Buy). MarketBeat's consensus price targets are a mean average of the most recent available price targets set by each analyst that has set a price target for the stock in the last twelve months. MarketBeat's consensus ratings and consensus price targets may differ from those calculated by other firms due to differences in methodology and available data.

Consensus Rating

Consensus Price Target

$118.05
-3.45% Downside
High Forecast$155.00
Average Forecast$118.05
Low Forecast$65.00
TypeCurrent Forecast
7/14/23 to 7/13/24
1 Month Ago
6/14/23 to 6/13/24
3 Months Ago
4/15/23 to 4/14/24
1 Year Ago
7/14/22 to 7/14/23
Consensus Rating
Moderate Buy
Moderate Buy
Moderate Buy
Moderate Buy
Strong Buy
0 Strong Buy rating(s)
0 Strong Buy rating(s)
0 Strong Buy rating(s)
0 Strong Buy rating(s)
Buy
15 Buy rating(s)
15 Buy rating(s)
14 Buy rating(s)
10 Buy rating(s)
Hold
6 Hold rating(s)
7 Hold rating(s)
7 Hold rating(s)
7 Hold rating(s)
Sell
0 Sell rating(s)
0 Sell rating(s)
0 Sell rating(s)
0 Sell rating(s)
Consensus Price Target$118.05$118.05$111.26$74.19
Forecasted Upside-3.45% Downside16.98% Upside10.05% Upside15.46% Upside
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ESTC Analyst Recommendations By Month

The chart below shows how a company's ratings by analysts have changed over time. Each bar represents the previous year of ratings for that month. Within each bar, the sell ratings are shown in red, the hold ratings are shown in yellow, the buy ratings are shown in green, and the strong buy ratings are shown in dark green.
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ESTC Price Targets by Month

The chart below shows how a company's share price and consensus price target have changed over time. The dark blue line represents the company's actual price. The lighter blue line represents the stock's consensus price target. The even lighter blue range in the background of the two lines represents the low price target and the high price target for each stock.
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Elastic Stock vs. The Competition

TypeElasticBusiness Services CompaniesS&P 500
Consensus Rating Score
2.71
2.64
2.50
Consensus RatingModerate BuyModerate BuyModerate Buy
Predicted Upside-3.45% Downside141.47% Upside9.17% Upside
News Sentiment RatingPositive News
Positive News
Positive News
DateBrokerageAnalyst NameActionRatingPrice TargetUpside/Downside on Report DateDetails
6/3/2024Citigroup
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 Boost TargetBuy ➝ Buy$145.00 ➝ $155.00+54.35%
5/31/2024Scotiabank
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 Lower TargetSector Outperform ➝ Sector Outperform$154.00 ➝ $135.00+33.49%
5/31/2024Barclays
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 Lower TargetEqual Weight ➝ Equal Weight$128.00 ➝ $117.00+15.69%
5/31/2024Canaccord Genuity Group
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 Lower TargetBuy ➝ Buy$130.00 ➝ $125.00+23.59%
5/31/2024Stifel Nicolaus
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 Lower TargetBuy ➝ Buy$130.00 ➝ $120.00+17.88%
5/31/2024Needham & Company LLC
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 Reiterated RatingHold
5/31/2024Bank of America
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 Lower TargetBuy ➝ Buy$150.00 ➝ $140.00+50.38%
5/28/2024Robert W. Baird
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 Lower TargetOutperform ➝ Outperform$137.00 ➝ $135.00+28.63%
5/24/2024JPMorgan Chase & Co.
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 Lower TargetOverweight ➝ Overweight$138.00 ➝ $125.00+18.82%
5/22/2024UBS Group
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 Initiated CoverageBuy$135.00+23.38%
3/4/2024Royal Bank of Canada
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 Boost TargetOverweight ➝ Overweight$134.00 ➝ $147.00+38.85%
3/1/2024Oppenheimer
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 Boost TargetOutperform ➝ Outperform$110.00 ➝ $130.00+13.07%
3/1/2024Rosenblatt Securities
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 Boost TargetBuy ➝ Buy$105.00 ➝ $136.00+15.66%
3/1/2024The Goldman Sachs Group
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 Boost TargetNeutral ➝ Neutral$93.00 ➝ $106.00-8.83%
2/20/2024Truist Financial
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 Boost TargetBuy ➝ Buy$130.00 ➝ $140.00+9.65%
12/1/2023Piper Sandler
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 Boost TargetOverweight ➝ Overweight$84.00 ➝ $105.00-3.54%
12/1/2023Wedbush
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 Reiterated RatingNeutral ➝ Neutral$67.00-36.77%
12/1/2023Wells Fargo & Company
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 UpgradeEqual Weight ➝ Overweight$90.00 ➝ $108.00+34.46%
10/18/2023Jefferies Financial Group
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 UpgradeHold ➝ Buy$75.00 ➝ $100.00+23.97%
10/2/2023DA Davidson
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 Boost TargetNeutral ➝ Neutral$60.00 ➝ $70.00-14.19%
8/18/2023TD Cowen
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 Initiated CoverageMarket Perform$65.00+7.88%
6/26/2023William Blair
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K. Mielczarek
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Reiterated RatingMarket Perform
8/11/2022Monness Crespi & Hardt
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 DowngradeBuy ➝ Neutral

Analyst ratings data on MarketBeat is provided by Benzinga and other data providers. This page was last refreshed on Saturday at 02:48 PM ET.

ESTC Forecast - Frequently Asked Questions

What is Elastic's forecast for 2024?

According to the research reports of 21 Wall Street equities research analysts, the average twelve-month stock price forecast for Elastic is $118.05, with a high forecast of $155.00 and a low forecast of $65.00.

Should I buy or sell Elastic stock right now?

21 Wall Street analysts have issued "buy," "hold," and "sell" ratings for Elastic in the last year. There are currently 6 hold ratings and 15 buy ratings for the stock. The consensus among Wall Street analysts is that investors should "moderate buy" ESTC shares.

Does Elastic's stock price have much upside?

According to analysts, Elastic's stock has a predicted upside of 16.98% based on their 12-month stock forecasts.

What analysts cover Elastic?
Do Wall Street analysts like Elastic more than its competitors?

Analysts like Elastic more than other "business services" companies. The consensus rating score for Elastic is 2.71 while the average consensus rating score for "business services" companies is 2.64. Learn more on how ESTC compares to other companies.


This page (NYSE:ESTC) was last updated on 7/13/2024 by MarketBeat.com Staff

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