Fintel reports that on October 2, 2023, DA Davidson maintained coverage of Elastic N.V (NYSE:ESTC) with a Neutral recommendation.
Analyst Price Forecast Suggests 6.69% Downside
As of August 31, 2023, the average one-year price target for Elastic N.V is 75.80. The forecasts range from a low of 60.60 to a high of $94.50. The average price target represents a decrease of 6.69% from its latest reported closing price of 81.24.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Elastic N.V is 1,352MM, an increase of 21.51%. The projected annual non-GAAP EPS is 0.80.
What is the Fund Sentiment?
There are 596 funds or institutions reporting positions in Elastic N.V. This is a decrease of 1 owner(s) or 0.17% in the last quarter. Average portfolio weight of all funds dedicated to ESTC is 0.32%, a decrease of 3.87%. Total shares owned by institutions decreased in the last three months by 2.11% to 77,373K shares. 
The put/call ratio of ESTC is 0.36, indicating a bullish outlook.
What are Other Shareholders Doing?
Baillie Gifford holds 7,582K shares representing 7.70% ownership of the company. In it's prior filing, the firm reported owning 7,634K shares, representing a decrease of 0.68%. The firm increased its portfolio allocation in ESTC by 177.67% over the last quarter.
VWIGX - Vanguard International Growth Fund Investor Shares holds 4,896K shares representing 4.97% ownership of the company. No change in the last quarter.
Sylebra Capital holds 4,591K shares representing 4.66% ownership of the company. In it's prior filing, the firm reported owning 4,712K shares, representing a decrease of 2.65%. The firm decreased its portfolio allocation in ESTC by 0.55% over the last quarter.
FIL holds 2,949K shares representing 3.00% ownership of the company. In it's prior filing, the firm reported owning 3,381K shares, representing a decrease of 14.66%. The firm increased its portfolio allocation in ESTC by 66.80% over the last quarter.
Jpmorgan Chase holds 2,808K shares representing 2.85% ownership of the company. In it's prior filing, the firm reported owning 2,368K shares, representing an increase of 15.67%. The firm increased its portfolio allocation in ESTC by 832.92% 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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