Brokerages Set Elastic NV (ESTC) Target Price at $75.22
Shares of Elastic NV (NYSE:ESTC) have been assigned a consensus recommendation of “Buy” from the nine analysts that are presently covering the company, MarketBeat Ratings reports. Four research analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average twelve-month target price among analysts that have covered the stock in the last year is $75.22.
Several research firms have recently commented on ESTC. Monness Crespi & Hardt started coverage on Elastic in a research report on Monday, December 17th. They issued a “buy” rating and a $100.00 target price on the stock. Citigroup increased their price target on Elastic from $74.00 to $82.00 and gave the stock a “neutral” rating in a research report on Thursday, December 6th. Barclays increased their price target on Elastic to $85.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 5th. Royal Bank of Canada started coverage on Elastic in a research report on Tuesday, October 30th. They set an “outperform” rating and a $71.00 price target on the stock. Finally, JPMorgan Chase & Co. started coverage on Elastic in a research report on Tuesday, October 30th. They set a “neutral” rating and a $60.00 price target on the stock.
NYSE:ESTC traded up $1.82 on Friday, hitting $75.08. The company’s stock had a trading volume of 268,607 shares, compared to its average volume of 254,481. Elastic has a one year low of $58.55 and a one year high of $83.84.
An institutional investor recently bought a new position in Elastic stock. NEA Management Company LLC bought a new position in shares of Elastic NV (NYSE:ESTC) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 6,353,498 shares of the company’s stock, valued at approximately $454,148,000. Elastic comprises approximately 18.0% of NEA Management Company LLC’s investment portfolio, making the stock its 2nd largest holding. NEA Management Company LLC owned 8.95% of Elastic at the end of the most recent quarter.
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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