After RBC Capital and Monness gave Elastic (NYSE: ESTC) a Buy rating last month, the company received another Buy, this time from Barclays. Analyst Raimo Lenschow maintained a Buy rating on Elastic yesterday and set a price target of $100.00. The company’s shares closed last Monday at $71.93.
According to TipRanks.com, Lenschow is a top 25 analyst with an average return of 19.2% and a 72.8% success rate. Lenschow covers the Technology sector, focusing on stocks such as Cornerstone Ondemand, Ceridian HCM Holding, and Slack Technologies.
Currently, the analyst consensus on Elastic is a Strong Buy with an average price target of $98.00, which is a 55.5% upside from current levels. In a report issued on February 24, Monness also maintained a Buy rating on the stock with a $130.00 price target.
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Based on Elastic’s latest earnings release for the quarter ending January 31, the company reported a quarterly GAAP net loss of $44.28 million. In comparison, last year the company had a GAAP net loss of $21.35 million.
Based on the recent corporate insider activity of 100 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.
