While Elastic N.V has overperformed by 1.39%, investors are advised to look at stock chart patterns for technical insight. Within its last year performance, ESTC fell by -7.45%, with highs and lows ranging from $136.06 to $69.00, whereas the simple moving average fell by -33.36% in the last 200 days.
On August 30, 2024, Robert W. Baird Downgraded Elastic N.V (NYSE: ESTC) to Neutral. A report published by BofA Securities on August 30, 2024, Downgraded its rating to ‘Neutral’ for ESTC. UBS also rated ESTC shares as ‘Buy’, setting a target price of $135 on the company’s shares in an initiating report dated May 22, 2024. Scotiabank Initiated an Sector Outperform rating on February 15, 2024, and assigned a price target of $185. Barclays January 12, 2024d its ‘Overweight’ rating to ‘Equal Weight’ for ESTC, as published in its report on January 12, 2024. Wells Fargo’s report from December 01, 2023 suggests a price prediction of $108 for ESTC shares, giving the stock a ‘Overweight’ rating. Jefferies also rated the stock as ‘Buy’.
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Analysis of Elastic N.V (ESTC)
Further, the quarter-over-quarter increase in sales is 18.27%, showing a positive trend in the upcoming months.
In order to gain a clear picture of Elastic N.V’s future performance, a variety of well-rounded analysis and research techniques can be applied, with equity being the most critical. The goal here is to ensure that your current return on equity of 10.42% is sufficient for you to turn a profit off your investment. Taking into account the quick ratio of the company, currently set at 1.81, you can see that the company can cover any debts it may have, which can easily be seen in the annual report of the company.
An average volume of 1.34M can be a very valuable indicator of volatility for ESTC stock. On a monthly basis, the volatility of the stock is set at 3.89%, whereas on a weekly basis, it is put at 3.88%, with a loss of -1.58% over the past seven days. Furthermore, long-term investors anticipate a median target price of $102.63, showing growth from the present price of $72.09, which can serve as yet another indication of whether ESTC is worth investing in or should be passed over.
How Do You Analyze Elastic N.V Shares?
The USA based company Elastic N.V (ESTC) is one of the biggest names in Software – Application. When comparing Elastic N.V shares with other companies under Technology, the P/E value is an influential factor to note. This is because it represents an indication of the future growth of the company in terms of investors’ expectations. Ultimately, the value of the latter should demonstrate steady, rapid growth, which is an accurate measure of the company’s progress. In addition to the value of 131.50, there is a growth in quarterly earnings of 2.83%.
In addition to the fundamentals, you should also consider how many employees own shares in the company. This is because the values should be in line with investors’ expectations. As such, the current holdings of company stock inside the company are set at 16.30%. This can enable you to see the extent to which executives own the company’s stock. As opposed to executive stock, institutional ownership accounts for 91.57% of the company’s shares, contributing to an indication of company value, since large shareholders may signify strength within the organization.
ESTC shares are owned by institutional investors to the tune of 91.57% at present.
