Elastic NV (ESTC) Received its Third Buy in a Row


After KeyBanc and Merrill Lynch gave Elastic NV (NYSE: ESTC) a Buy rating last month, the company received another Buy, this time from Monness. Analyst Brian White maintained a Buy rating on Elastic NV today and set a price target of $125. The company’s shares closed yesterday at $81.89.

According to TipRanks.com, White is a top 25 analyst with an average return of 24.4% and a 71.3% success rate. White covers the Technology sector, focusing on stocks such as Spotify Technology SA, Salesforce.com, and Alphabet Inc.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Elastic NV with a $130 average price target, which is a 58.7% upside from current levels. In a report issued on May 27, KeyBanc also maintained a Buy rating on the stock with a $102 price target.

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The company has a one-year high of $100.43 and a one-year low of $58.55. Currently, Elastic NV has an average volume of 838.8K.

Based on the recent corporate insider activity of 43 insiders, corporate insider sentiment is neutral on the stock.

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Elastic NV engages in the provision of open source search and analytics engine services. It offers Elastic Stack, which is a set of software products that ingest and store data from any source, in any format, and perform search, analysis, and visualization.

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