Market Analysts see Elastic N.V. [ESTC] gaining to $100. Time to buy?

Elastic N.V. [NYSE: ESTC] closed the trading session at $60.07 on 12/14/22. The day’s price range saw the stock hit a low of $58.68, while the highest price level was $61.67. The company report on December 14, 2022 that Elastic Recognized as a Leader in Security Analytics by Independent Research Firm.

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Company received the highest score in the Strategy category.

Elastic (NYSE: ESTC) (“Elastic”), the company behind Elasticsearch, today announced that it has been named a Leader by Forrester Research in The Forrester Wave™: Security Analytics Platforms, Q4 2022. Download the complimentary report here.

The stocks have a year to date performance of -51.20 percent and weekly performance of 15.54 percent. The stock has been moved at -8.76 percent over the last six months. The stock has performed -7.20 percent around the most recent 30 days and changed -28.60 percent over the most recent 3-months.

If compared to the average trading volume of 1.51M shares, ESTC reached to a volume of 3702626 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say about Elastic N.V. [ESTC]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for ESTC shares is $78.26 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on ESTC stock is a recommendation set at 1.90. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Robert W. Baird have made an estimate for Elastic N.V. shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on October 19, 2022. While these analysts kept the previous recommendation, Wells Fargo raised their target price to Underweight. The new note on the price target was released on October 11, 2022, representing the official price target for Elastic N.V. stock.

The Average True Range (ATR) for Elastic N.V. is set at 3.89, with the Price to Sales ratio for ESTC stock in the period of the last 12 months amounting to 5.95. The Price to Book ratio for the last quarter was 14.62, with the Price to Cash per share for the same quarter was set at 8.84. Price to Free Cash Flow for ESTC in the course of the last twelve months was 19386.59 with Quick ratio for the last quarter at 1.90.

ESTC stock trade performance evaluation

Elastic N.V. [ESTC] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 15.54. With this latest performance, ESTC shares dropped by -7.20% in over the last four-week period, additionally sinking by -8.76% over the last 6 months – not to mention a drop of -47.21% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for ESTC stock in for the last two-week period is set at 53.22, with the RSI for the last a single of trading hit 59.47, and the three-weeks RSI is set at 49.95 for Elastic N.V. [ESTC]. The present Moving Average for the last 50 days of trading for this stock 61.02, while it was recorded at 56.89 for the last single week of trading, and 73.18 for the last 200 days.

Elastic N.V. [ESTC]: An insightful look at the core fundamentals

Operating Margin for any stock indicates how profitable investing would be, and Elastic N.V. [ESTC] shares currently have an operating margin of -19.25 and a Gross Margin at +65.42. Elastic N.V.’s Net Margin is presently recorded at -23.64.

Return on Equity for this stock declined to -47.06, with Return on Assets sitting at -15.58.

Elastic N.V.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.90 and a Current Ratio set at 1.90.

Earnings per share (EPS) analysis for Elastic N.V. [ESTC] stock

The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for ESTC. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Elastic N.V. go to 2.80%.

Elastic N.V. [ESTC]: Insider Ownership positions

There are presently around $4,391 million, or 78.70% of ESTC stock, in the hands of institutional investors. The top three institutional holders of ESTC stocks are: VANGUARD GROUP INC with ownership of 7,370,062, which is approximately 2.181% of the company’s market cap and around 9.00% of the total institutional ownership; FMR LLC, holding 6,175,966 shares of the stock with an approximate value of $370.99 million in ESTC stocks shares; and BLACKROCK INC., currently with $315.27 million in ESTC stock with ownership of nearly -8.851% of the company’s market capitalization.

Positions in Elastic N.V. stocks held by institutional investors increased at the end of November and at the time of the November reporting period, where 167 institutional holders increased their position in Elastic N.V. [NYSE:ESTC] by around 11,934,223 shares. Additionally, 157 investors decreased positions by around 10,594,244 shares, while 58 investors held positions by with 50,576,445 shares. The mentioned changes placed institutional holdings at 73,104,912 shares, according to the latest SEC report filing. ESTC stock had 45 new institutional investments in for a total of 6,397,247 shares, while 43 institutional investors sold positions of 3,146,357 shares during the same period.


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