In the last trading session, 1,090,000,000 shares of the Elastic N.V. (NYSE:ESTC) were traded, and its beta was 0. Most recently the company’s share price was $121.31, and it changed around $8.06 or 0.07% from the last close, which brings the market valuation of the company to $10.89 Billion. ESTC currently trades at a discount to its 52-week high of $176.49, offering almost -45.49% off that amount. The share price’s 52-week low was $51.35, which indicates that the current value has risen by an impressive 57.67% since then. We note from Elastic N.V.’s average daily trading volume that its 10-day average is 1.37 Million shares, with the 3-month average coming to 1.09 Million.
Elastic N.V. stock received a consensus recommendation rating of Buy, based on a mean score of 1.8. If we narrow it down even further, the data shows that none out of 17 analysts rate the stock as a Sell; another but none rate it as Overweight. Among the rest, 3 recommended ESTC as a Hold, whereas 14 deemed it a Buy, and no one rated it as Underweight. Elastic N.V. is expected to report earnings per share of -$0.16 for the current quarter.
Elastic N.V. (NYSE:ESTC): Trading Information
Instantly ESTC has showed a green trend with a performance of 7.12% at the end of last trading. The performance over the last five days has remained in the green territory. The rise to weekly highs of $122.0 on Tuesday, Apr 06 increased the stock’s daily price by 0.6%. The company’s shares are currently down -0.17% year-to-date, but still up 0.1446 over the last five days. On the other hand, Elastic N.V. (NYSE:ESTC) is -0.02% down in the 30-day period. We can see from the shorts that 9.24 Million shares have been sold at a short interest cover period of 8.48 day (s).
The consensus price target as assigned by Wall Street analysts is $175.53, which translates to bears needing to increase their stock price by 44.7% from its current value. Analyst projections state that ESTC is forecast to be at a low of $155 and a high of $200. In order for the stock price to hit the forecast high, the stock would need to surge +64.87% from its current level, while the stock would need to crash 27.77% from its current level to reach the projected low.
Elastic N.V. (ESTC) projections and forecasts
Elastic N.V. share prices are not performing particularly well compared to other companies within the same industry. As is evident from the statistics, the company’s shares have risen +9.43 percent over the past six months and at a -81.72% annual growth rate that is well below the industry average of 9.4%. However, despite this, analysts have decided to cut back on their fiscal year 2021 revenue estimates. The rating firms predict that it will lose -33.3% in revenue this quarter, and will report a decline of -300% in the next quarter. The year-over-year growth rate is expected to be 37.9%, up from the previous year.
Consensus estimates provided by 14 financial analysts predict the company will bring in an average of $158.91 Million in revenue for the current quarter. 12 analysts expect Elastic N.V. to make $165.78 Million in revenue for the quarter ending July 01, 2021. The company’s sales for the same quarter a year ago was $123.62 Million. Analysts predict that the company’s current quarter sales will jump, forecast at 28.5%.
Looking at the company’s year-over-year earnings, the past five years showed a negative earnings growth rate of 0%. Elastic N.V. earnings are expected to decrease by -13.8% in 2021, but the outlook is positive 2.8% per year for the next five years.
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Elastic N.V. (NYSE:ESTC)’s Biggest Investors
Upon looking at major shareholders, it appears that insiders hold 21.82% of Elastic N.V. shares, and 81.54% of them are in the hands of institutional investors. The stock currently has a share float of 104.3%. Elastic N.V. stock is held by 469 institutions, with FMR, LLC being the largest institutional investor. By Dec 30, 2020, it held 10.63% of the shares, which is about 9.54 Million shares worth $1.39 Billion.
Vanguard Group, Inc. (The), with 6.22% or 5.58 Million shares worth $815.61 Million as of Dec 30, 2020, holds the second largest percentage of outstanding shares.
Vanguard Total Stock Market Index Fund and Fidelity OTC Portfolio were the top two Mutual Funds as of Dec 30, 2020. The former held 1707931 shares worth $249.58 Million, making up 1.9% of all outstanding shares. On the other hand, Fidelity OTC Portfolio held roughly 1.62 Million shares worth around $217.37 Million, which represents about 1.8% of the total shares outstanding.