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Weak Fundamental Momentum Sinks Elastic N.V.

Elastic N.V. (NYSE:ESTC) has a beta value of 1.10 and has seen 2.17 million shares traded in the last trading session. The company, currently valued at $7.52B, closed the last trade at $77.02 per share which meant it lost -$6.48 on the day or -7.76% during that session. The ESTC stock price is -146.48% off its 52-week high price of $189.84 and 34.12% above the 52-week low of $50.74. If we look at the company’s 10-day average daily trading volume, we find that it stood at 1.68 million shares traded. The 3-month trading volume is 1.24 million shares.

The consensus among analysts is that Elastic N.V. (ESTC) is an Overweight stock at the moment, with a recommendation rating of 1.90. 0 analysts rate the stock as a Sell, while 2 rate it as Overweight. 6 out of 20 have rated it as a Hold, with 12 advising it as a Buy. 0 have rated the stock as Underweight. The expected earnings per share for the stock is -$0.17.

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Elastic N.V. (NYSE:ESTC) trade information

Sporting -7.76% in the red in last session, the stock has traded in the red over the last five days, with the highest price hit on Tuesday, 09/20/22 when the ESTC stock price touched $77.02 or saw a rise of 12.34%. Year-to-date, Elastic N.V. shares have moved -37.43%, while the 5-day performance has seen it change -7.42%. Over the past 30 days, the shares of Elastic N.V. (NYSE:ESTC) have changed -3.69%. Short interest in the company has seen 3.21 million shares shorted with days to cover at 2.39.

Wall Street analysts have a consensus price target for the stock at $106.00, which means that the shares’ value could jump 27.34% from current levels. The projected low price target is $80.00 while the price target rests at a high of $155.00. In that case, then, we find that the current price level is -101.25% off the targeted high while a plunge would see the stock gain -3.87% from current levels.

Elastic N.V. (ESTC) estimates and forecasts

Figures show that Elastic N.V. shares have underperformed across the wider relevant industry. The company’s shares have lost -10.66% over the past 6 months, with this year growth rate of 12.12%, compared to 13.50% for the industry. Revenue growth from the last financial year stood is estimated to be 25.90%.

15 analysts offering their estimates for the company have set an average revenue estimate of $246.07 million for the current quarter. 15 have an estimated revenue figure of $260.67 million for the next quarter concluding in Oct 2022.

If we evaluate the company’s growth over the last 5-year and for the next 5-year period, we find that annual earnings growth was -24.10% over the past 5 years. Earnings growth for 2022 is a modest -48.40% while over the next 5 years, the company’s earnings are expected to increase by 2.80%.

ESTC Dividends

Elastic N.V. is expected to release its next earnings report between February 22 and February 28 this year, and investors are excited at the prospect of better dividends despite the company’s debt issue.

Elastic N.V. (NYSE:ESTC)’s Major holders

Insiders own 18.55% of the company shares, while shares held by institutions stand at 74.92% with a share float percentage of 91.97%. Investors are also buoyed by the number of investors in a company, with Elastic N.V. having a total of 496 institutions that hold shares in the company. The top two institutional holders are FMR, LLC with over 8.0 million shares worth more than $711.3 million. As of Mar 30, 2022, FMR, LLC held 8.43% of shares outstanding.

The other major institutional holder is Vanguard Group, Inc. (The), with the holding of over 7.04 million shares as of Mar 30, 2022. The firm’s total holdings are worth over $626.11 million and represent 7.42% of shares outstanding.

Also the top two Mutual Funds that are holding company’s shares are Vanguard Total Stock Market Index Fund and Vanguard Small-Cap Index Fund. As of Mar 30, 2022, the former fund manager holds about 2.26% shares in the company for having 2.14 million shares of worth $190.73 million while later fund manager owns 1.87 million shares of worth $166.65 million as of Mar 30, 2022, which makes it owner of about 1.98% of company’s outstanding stock.

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