RBC Capital analyst Matthew Hedberg maintained a Buy rating on Elastic (ESTC) on March 29 and set a price target of $85.00. The company’s shares closed last Tuesday at $55.81.
According to TipRanks.com, Hedberg is a top 100 analyst with an average return of 17.6% and a 66.0% success rate. Hedberg covers the Technology sector, focusing on stocks such as Ping Identity Holding, Altair Engineering, and Netscout Systems.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Elastic with a $80.14 average price target, which is a 43.9% upside from current levels. In a report issued on March 16, Barclays also maintained a Buy rating on the stock with a $70.00 price target.
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The company has a one-year high of $104.10 and a one-year low of $39.01. Currently, Elastic has an average volume of 1.37M.
Based on the recent corporate insider activity of 80 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of ESTC in relation to earlier this year.
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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. The company was founded by Shay Banon, Uri Boness, Steven Schuurman, and Simon Willnauer on February 9, 2012 and is headquartered in Mountain View, CA.
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