Elastic’s (NYSE:ESTC) quiet period will end on Wednesday, November 14th. Elastic had issued 7,000,000 shares in its IPO on October 5th. The total size of the offering was $252,000,000 based on an initial share price of $36.00. During the company’s quiet period, underwriters and any insiders that worked on the IPO are prevented from issuing any research reports for the company because of SEC regulations. Following the end of the company’s quiet period, it’s expected that the brokerages that served as underwriters on the stock will initiate research coverage on the company.
Several research firms have recently commented on ESTC. Citigroup began coverage on shares of Elastic in a research note on Tuesday, October 30th. They issued a “neutral” rating and a $74.00 target price for the company. JPMorgan Chase & Co. began coverage on shares of Elastic in a research note on Tuesday, October 30th. They issued a “neutral” rating and a $60.00 target price for the company. Royal Bank of Canada assumed coverage on shares of Elastic in a research note on Tuesday, October 30th. They issued an “outperform” rating and a $71.00 target price for the company. Jefferies Financial Group assumed coverage on shares of Elastic in a report on Tuesday, October 30th. They issued a “hold” rating and a $65.00 price target for the company. Finally, Barclays assumed coverage on shares of Elastic in a report on Tuesday, October 30th. They issued an “overweight” rating and a $79.00 price target for the company. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $70.38.
Shares of ESTC opened at $67.05 on Wednesday. Elastic has a 52-week low of $58.55 and a 52-week high of $74.20.
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Elastic Company Profile
Elastic N.V. develops and delivers technology that enables users to search structured and unstructured data for a range of consumer and enterprise applications. It primarily provides Elastic Stack, a set of software products that ingest and store data from various sources and formats, as well as performs search, analysis, and visualization.
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