In a report released yesterday, Brent Bracelin from KeyBanc maintained a Buy rating on Elastic NV (ESTC), with a price target of $110. The company’s shares closed last Monday at $80.13.
Bracelin commented:
“We are raising estimates and maintaining our Overweight rating on a compelling growth opportunity driven by an expanding number of use cases in security, log management, search, and monitoring.”
According to TipRanks.com, Bracelin is a top 25 analyst with an average return of 29.9% and a 74.1% success rate. Bracelin covers the Technology sector, focusing on stocks such as Slack Technologies Inc, Tyler Technologies, and Coupa Software Inc.
Currently, the analyst consensus on Elastic NV is a Strong Buy with an average price target of $119.50, representing a 49.6% upside. In a report issued on August 27, Monness also maintained a Buy rating on the stock with a $125 price target.
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The company has a one-year high of $104.10 and a one-year low of $58.55. Currently, Elastic NV has an average volume of 1.29M.
Based on the recent corporate insider activity of 74 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling 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.
