In a report released yesterday, Raimo Lenschow from Barclays maintained a Buy rating on Elastic NV (ESTC), with a price target of $109. The company’s shares closed last Monday at $88.76.
According to TipRanks.com, Lenschow is a top 25 analyst with an average return of 20.2% and a 72.8% success rate. Lenschow covers the Technology sector, focusing on stocks such as Ceridian HCM Holding Inc, Slack Technologies Inc, and Cornerstone Ondemand.
Currently, the analyst consensus on Elastic NV is a Strong Buy with an average price target of $120.75, representing a 37.3% upside. In a report released yesterday, Monness also assigned a Buy rating to the stock with a $130 price target.
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Based on Elastic NV’s latest earnings release for the quarter ending July 31, the company reported a quarterly GAAP net loss of $41.77 million. In comparison, last year the company had a GAAP net loss of $18.58 million.
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.
