ESTC

UBS Initiates Coverage of Elastic N.V. (ESTC) with Buy Recommendation

Fintel reports that on May 22, 2024, UBS initiated coverage of Elastic N.V. (NYSE:ESTC) with a Buy recommendation.

Analyst Price Forecast Suggests 23.86% Upside

As of May 22, 2024, the average one-year price target for Elastic N.V. is 135.50. The forecasts range from a low of 107.06 to a high of $162.75. The average price target represents an increase of 23.86% from its latest reported closing price of 109.40.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for Elastic N.V. is 1,352MM, an increase of 11.53%. The projected annual non-GAAP EPS is 0.80.

What is the Fund Sentiment?

There are 708 funds or institutions reporting positions in Elastic N.V.. This is an increase of 38 owner(s) or 5.67% in the last quarter. Average portfolio weight of all funds dedicated to ESTC is 0.38%, an increase of 2.02%. Total shares owned by institutions decreased in the last three months by 1.07% to 86,433K shares. ESTC / Elastic N.V. Put/Call Ratios The put/call ratio of ESTC is 0.52, indicating a bullish outlook.

What are Other Shareholders Doing?

ESTC / Elastic N.V. Shares Held by Institutions

Baillie Gifford holds 10,157K shares representing 10.08% ownership of the company. In its prior filing, the firm reported owning 7,764K shares , representing an increase of 23.55%. The firm increased its portfolio allocation in ESTC by 14.20% over the last quarter.

VWIGX - Vanguard International Growth Fund Investor Shares holds 6,226K shares representing 6.18% ownership of the company. In its prior filing, the firm reported owning 4,896K shares , representing an increase of 21.36%. The firm increased its portfolio allocation in ESTC by 102.66% over the last quarter.

Jpmorgan Chase holds 4,731K shares representing 4.69% ownership of the company. In its prior filing, the firm reported owning 4,394K shares , representing an increase of 7.12%. The firm decreased its portfolio allocation in ESTC by 90.61% over the last quarter.

Voya Investment Management holds 4,329K shares representing 4.29% ownership of the company. In its prior filing, the firm reported owning 3,543K shares , representing an increase of 18.15%. The firm decreased its portfolio allocation in ESTC by 50.99% over the last quarter.

Sylebra Capital holds 3,544K shares representing 3.52% ownership of the company. In its prior filing, the firm reported owning 4,032K shares , representing a decrease of 13.76%. The firm decreased its portfolio allocation in ESTC by 31.42% over the last quarter.

Elastic N.V Background Information
(This description is provided by the company.)

Elastic is a search company built on a free and open heritage. Anyone can use Elastic products and solutions to get started quickly and frictionlessly. Elastic offers three solutions for enterprise search, observability, and security, built on one technology stack that can be deployed anywhere. From finding documents to monitoring infrastructure to hunting for threats, Elastic makes data usable in real time and at scale. Thousands of organizations worldwide, including Cisco, eBay, Goldman Sachs, Microsoft, The Mayo Clinic, NASA, The New York Times, Wikipedia, and Verizon, use Elastic to power mission-critical systems. Founded in 2012, Elastic is a distributed company with Elasticians around the globe and is publicly traded on the NYSE.

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This story originally appeared on Fintel.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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