Elastic (ESTC) PT Raised to $82.00

Elastic (NYSE:ESTC) had its price objective lifted by equities researchers at Citigroup from $74.00 to $82.00 in a report released on Thursday. The firm presently has a “neutral” rating on the stock. Citigroup’s price objective indicates a potential upside of 18.63% from the company’s previous close.

Other analysts also recently issued research reports about the stock. Bank of America started coverage on shares of Elastic in a report on Tuesday, October 30th. They set a “buy” rating and a $81.00 price target for the company. Goldman Sachs Group started coverage on shares of Elastic in a report on Tuesday, October 30th. They set a “buy” rating and a $68.00 price target for the company. Canaccord Genuity started coverage on shares of Elastic in a report on Tuesday, October 30th. They set a “hold” rating and a $65.00 price target for the company. Jefferies Financial Group started coverage on shares of Elastic in a report on Tuesday, October 30th. They set a “hold” rating and a $65.00 price target for the company. Finally, JPMorgan Chase & Co. started coverage on shares of Elastic in a report on Tuesday, October 30th. They set a “neutral” rating and a $60.00 price target for the company. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Elastic presently has an average rating of “Buy” and a consensus target price of $72.13.

NYSE ESTC opened at $69.12 on Thursday. Elastic has a 12-month low of $58.55 and a 12-month high of $83.84.

Elastic (NYSE:ESTC) last posted its quarterly earnings data on Tuesday, December 4th. The company reported ($0.38) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.47) by $0.09. The business had revenue of $63.60 million during the quarter, compared to the consensus estimate of $56.54 million. Elastic’s quarterly revenue was up 71.9% on a year-over-year basis.

About Elastic

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.

Featured Story: How accurate is the Rule of 72?

Analyst Recommendations for Elastic (NYSE:ESTC)

Receive News & Ratings for Elastic Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Elastic and related companies with MarketBeat.com's FREE daily email newsletter.


Leave a Reply