Elastic N.V [NYSE: ESTC] price plunged by -1.43 percent to reach at -$1.55. The company report on February 29, 2024 at 4:05 PM that Elastic Reports Third Quarter Fiscal 2024 Financial Results.
Q3 Revenue of $328 million, up 19% year-over-year (18% in constant currency).
Q3 Elastic Cloud Revenue of $143 million, up 29% year-over-year (29% in constant currency).
The one-year ESTC stock forecast points to a potential upside of 19.09. The average equity rating for ESTC stock is currently 1.88, trading closer to a bullish pattern in the stock market.
Guru’s Opinion on 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 $132.00 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 1.88. 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.
Scotiabank have made an estimate for Elastic N.V shares, keeping their opinion on the stock as Sector Outperform, with their previous recommendation back on February 15, 2024. While these analysts kept the previous recommendation, Barclays raised their target price from $100 to $110. The new note on the price target was released on January 12, 2024, representing the official price target for Elastic N.V stock. Previously, the target price had yet another raise from $90 to $108, while Wells Fargo kept a Overweight rating on ESTC stock. On October 18, 2023, analysts increased their price target for ESTC shares from 75 to 100.
The Average True Range (ATR) for Elastic N.V is set at 6.17, with the Price to Sales ratio for ESTC stock in the period of the last 12 months amounting to 8.88. The Price to Book ratio for the last quarter was 15.21, with the Price to Cash per share for the same quarter was set at 10.10. Price to Free Cash Flow for ESTC in the course of the last twelve months was 89.58 with Quick ratio for the last quarter at 1.78.
ESTC Stock Performance Analysis:
Elastic N.V [ESTC] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -20.19. With this latest performance, ESTC shares dropped by -12.62% in over the last four-week period, additionally plugging by 34.83% over the last 6 months – not to mention a rise of 74.08% 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 35.36, with the RSI for the last a single of trading hit 28.40, and the three-weeks RSI is set at 40.37 for Elastic N.V [ESTC]. The present Moving Average for the last 50 days of trading for this stock 118.91, while it was recorded at 109.79 for the last single week of trading, and 86.41 for the last 200 days.
Insight into Elastic N.V Fundamentals:
Elastic N.V’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.78 and a Current Ratio set at 1.78.
ESTC Stock EPS
With the latest financial reports released by the company, Elastic N.V posted 0.22/share EPS, while the average EPS was predicted by analysts to be reported at 0.1/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 120.00%. 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.
Elastic N.V [ESTC] Institutonal Ownership Details
The top three institutional holders of ESTC stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in ESTC stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in ESTC stock with ownership which is approximately 5.8325%.
