In a report released today, Ittai Kidron from Oppenheimer assigned a Buy rating to Elastic (ESTC – Research Report), with a price target of $170.00. The company’s shares closed last Thursday at $150.91, close to its 52-week high of $159.95.
According to TipRanks.com, Kidron is a top 25 analyst with an average return of 41.9% and a 77.6% success rate. Kidron covers the Technology sector, focusing on stocks such as Zoom Video Communications, Slack Technologies, and Cambium Networks.
Elastic has an analyst consensus of Strong Buy, with a price target consensus of $157.89, representing a 3.9% upside. In a report issued on January 5, Piper Sandler also maintained a Buy rating on the stock with a $165.00 price target.
The company has a one-year high of $159.95 and a one-year low of $39.01. Currently, Elastic has an average volume of 890.8K.
Based on the recent corporate insider activity of 49 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. The company was founded by Shay Banon, Uri Boness, Steven Schuurman, and Simon Willnauer on February 9, 2012 and is headquartered in Mountain View, CA.