While Elastic N.V has underperformed by -0.32%, investors are advised to look at stock chart patterns for technical insight. Within its last year performance, ESTC fell by -4.06%, with highs and lows ranging from $136.06 to $69.00, whereas the simple moving average fell by -30.69% in the last 200 days.
On September 11, 2024, Guggenheim started tracking Elastic N.V (NYSE: ESTC) recommending Buy. A report published by Robert W. Baird on August 30, 2024, Downgraded its rating to ‘Neutral’ for ESTC. BofA Securities also Downgraded ESTC shares as ‘Neutral’, setting a target price of $94 on the company’s shares in a report dated August 30, 2024. UBS Initiated an Buy rating on May 22, 2024, and assigned a price target of $135. Scotiabank initiated its ‘Sector Outperform’ rating for ESTC, as published in its report on February 15, 2024. Barclays’s report from January 12, 2024 suggests a price prediction of $110 for ESTC shares, giving the stock a ‘Equal Weight’ rating. Wells Fargo also rated the stock as ‘Overweight’.
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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.
One of the most important indicators of Elastic N.V’s future performance is equity, which can be evaluated using several well-rounded types of analysis and research techniques. 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.
For any stock, average volume can also provide valuable insight into volatility, and ESTC is recording 1.34M average volume. On a monthly basis, the volatility of the stock is set at 3.81%, whereas on a weekly basis, it is put at 2.94%, with a gain of 0.62% over the past seven days. Furthermore, long-term investors anticipate a median target price of $102.50, showing growth from the present price of $74.92, 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 Software – Application market is dominated by Elastic N.V (ESTC) based in the USA. 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 136.67, there is a growth in quarterly earnings of 2.83%.
Along with the fundamentals, it is also important to consider how many employees own shares of 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 16.84%. 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 83.00% 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 83.00% at present.
