Fintel reports that on November 25, 2024, Wedbush upgraded their outlook for Elastic N.V. (NYSE:ESTC) from Neutral to Outperform.
Analyst Price Forecast Suggests 3.99% Downside
As of November 21, 2024, the average one-year price target for Elastic N.V. is $103.72/share. The forecasts range from a low of $75.75 to a high of $142.80. The average price target represents a decrease of 3.99% from its latest reported closing price of $108.03 / share.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Elastic N.V. is 1,680MM, an increase of 22.12%. The projected annual non-GAAP EPS is 1.32.
What is the Fund Sentiment?
There are 741 funds or institutions reporting positions in Elastic N.V.. This is an decrease of 12 owner(s) or 1.59% in the last quarter. Average portfolio weight of all funds dedicated to ESTC is 0.38%, an increase of 0.44%. Total shares owned by institutions increased in the last three months by 1.27% to 95,852K shares. 
The put/call ratio of ESTC is 0.66, indicating a bullish outlook.
What are Other Shareholders Doing?
Baillie Gifford holds 9,412K shares representing 9.16% ownership of the company. In its prior filing, the firm reported owning 9,786K shares , representing a decrease of 3.98%. The firm decreased its portfolio allocation in ESTC by 37.75% over the last quarter.
VWIGX - Vanguard International Growth Fund Investor Shares holds 5,658K shares representing 5.51% ownership of the company. In its prior filing, the firm reported owning 5,943K shares , representing a decrease of 5.03%. The firm decreased its portfolio allocation in ESTC by 30.51% over the last quarter.
BlackRock holds 5,206K shares representing 5.07% ownership of the company.
Jpmorgan Chase holds 3,924K shares representing 3.82% ownership of the company. In its prior filing, the firm reported owning 4,595K shares , representing a decrease of 17.11%. The firm decreased its portfolio allocation in ESTC by 96.40% over the last quarter.
Voya Investment Management holds 3,797K shares representing 3.70% ownership of the company. In its prior filing, the firm reported owning 4,558K shares , representing a decrease of 20.04%. The firm decreased its portfolio allocation in ESTC by 48.68% 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.
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