Fintel reports that on April 13, 2023, RBC Capital reiterated coverage of Elastic N.V. (NYSE:ESTC) with a Outperform recommendation.

Analyst Price Forecast Suggests 30.93% Upside

As of April 6, 2023, the average one-year price target for Elastic N.V. is $72.00. The forecasts range from a low of $50.50 to a high of $89.25. The average price target represents an increase of 30.93% from its latest reported closing price of $54.99.

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

The projected annual revenue for Elastic N.V. is $1,092MM, an increase of 6.18%. The projected annual non-GAAP EPS is -$0.02.

What are Other Shareholders Doing?

Tower Research Capital LLC holds 13K shares representing 0.01% ownership of the company. In it's prior filing, the firm reported owning 7K shares, representing an increase of 45.25%. The firm decreased its portfolio allocation in ESTC by 99.67% over the last quarter.

Gradient Investments holds 0K shares representing 0.00% ownership of the company. In it's prior filing, the firm reported owning 0K shares, representing a decrease of 450.00%. The firm decreased its portfolio allocation in ESTC by 99.99% over the last quarter.

KCXIX - Knights of Columbus U.S. All Cap Index Fund I Shares holds 0K shares representing 0.00% ownership of the company. In it's prior filing, the firm reported owning 0K shares, representing an increase of 13.29%. The firm decreased its portfolio allocation in ESTC by 14.19% over the last quarter.

BAFMX - Brown Advisory Mid-Cap Growth Fund Institutional Shares holds 7K shares representing 0.01% ownership of the company. In it's prior filing, the firm reported owning 14K shares, representing a decrease of 92.55%. The firm decreased its portfolio allocation in ESTC by 58.87% over the last quarter.

SMMD - iShares Russell 2500 ETF holds 8K shares representing 0.01% ownership of the company. In it's prior filing, the firm reported owning 7K shares, representing an increase of 15.01%. The firm decreased its portfolio allocation in ESTC by 31.51% over the last quarter.

What is the Fund Sentiment?

There are 652 funds or institutions reporting positions in Elastic N.V.. This is a decrease of 10 owner(s) or 1.51% in the last quarter. Average portfolio weight of all funds dedicated to ESTC is 0.37%, a decrease of 33.90%. Total shares owned by institutions increased in the last three months by 3.92% to 81,802K shares. The put/call ratio of ESTC is 0.45, indicating a bullish outlook.

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.