Elastic (ESTC) Stock Forecast & Price Target

$77.35

-0.19 (-0.25%)

(As of 09/27/2024 ET)

Elastic - Analysts' Recommendations and Stock Price Forecast (2024)

MarketBeat calculates consensus analyst ratings for stocks using the most recent rating from each Wall Street analyst that has rated a stock within the last twelve months. Each analyst's rating is normalized to a standardized rating score of 1 (sell), 2 (hold), 3 (buy) or 4 (strong buy). Analyst consensus ratings scores are calculated using the mean average of the number of normalized sell, hold, buy and strong buy ratings from Wall Street analysts. Each stock's consensus analyst rating is derived from its calculated consensus ratings score (0 to .5 = Strong Sell, .5 to 1 = Sell, 1 to 1.5 = Reduce, 1.5 to 2.5 = Hold, 2.5 to 3.0 = Moderate Buy, 3.0 to 3.5 = Buy, >3.5 = Strong Buy). MarketBeat's consensus price targets are a mean average of the most recent available price targets set by each analyst that has set a price target for the stock in the last twelve months. MarketBeat's consensus ratings and consensus price targets may differ from those calculated by other firms due to differences in methodology and available data.

Consensus Rating

Moderate Buy

Based on 23 Analyst Ratings

Sell
0

Hold
9

Buy
14

Based on 23 Wall Street analysts who have issued ratings for Elastic in the last 12 months, the stock has a consensus rating of "Moderate Buy." Out of the 23 analysts, 9 have given a hold rating, and 14 have given a buy rating for ESTC.

Consensus Price Target

$103.48
33.78% Upside

According to the 23 analysts' twelve-month price targets for Elastic, the average price target is $103.48. The highest price target for ESTC is $160.00, while the lowest price target for ESTC is $67.00. The average price target represents a forecasted upside of 33.78% from the current price of $77.35.

ESTC Analyst Ratings Over Time

Type	Current Forecast 9/29/23 to 9/28/24	1 Month Ago 8/30/23 to 8/29/24	3 Months Ago 7/1/23 to 6/30/24	1 Year Ago 9/29/22 to 9/29/23
Strong Buy	0 Strong Buy rating(s)	0 Strong Buy rating(s)	0 Strong Buy rating(s)	0 Strong Buy rating(s)
Buy	14 Buy rating(s)	15 Buy rating(s)	15 Buy rating(s)	11 Buy rating(s)
Hold	9 Hold rating(s)	5 Hold rating(s)	6 Hold rating(s)	6 Hold rating(s)
Sell	0 Sell rating(s)	0 Sell rating(s)	0 Sell rating(s)	0 Sell rating(s)
Consensus Price Target	$103.48	$121.11	$118.05	$78.76
Forecasted Upside	33.78% Upside	16.90% Upside	3.63% Upside	-3.05% Downside
Consensus Rating	Moderate Buy	Moderate Buy	Moderate Buy	Moderate Buy

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ESTC Analyst Recommendations By Month

The chart below shows how a company's ratings by analysts have changed over time. Each bar represents the previous year of ratings for that month. Within each bar, the sell ratings are shown in red, the hold ratings are shown in yellow, the buy ratings are shown in green, and the strong buy ratings are shown in dark green.

ESTC Price Targets by Month

The chart below shows how a company's share price and consensus price target have changed over time. The dark blue line represents the company's actual price. The lighter blue line represents the stock's consensus price target. The even lighter blue range in the background of the two lines represents the low price target and the high price target for each stock.

Elastic Stock vs. The Competition

Type	Elastic	Business Services Companies	S&P 500
Consensus Rating Score	2.61	2.65	2.50
Consensus Rating	Moderate Buy	Moderate Buy	Hold
Predicted Upside	33.83% Upside	304.25% Upside	6.14% Upside
News Sentiment Rating	Neutral News See Recent ESTC News	Positive News	Positive News

Recent Analyst Forecasts and Stock Ratings

Rating

Upside/Downside

Action

Time Frame

Start Date

End Date

Show

Export to Excel

Date	Brokerage	Analyst Name	Action	Rating	Price Target	Upside/Downside on Report Date
9/20/2024	Barclays 3 of 5 stars		Lower Target	Equal Weight ➝ Equal Weight	$106.00 ➝ $90.00	+18.44%
9/11/2024	Guggenheim 3 of 5 stars	H. Ma Subscribe to MarketBeat All Access for the recommendation accuracy rating	Initiated Coverage	Buy	$100.00	+38.70%
9/3/2024	Canaccord Genuity Group 1 of 5 stars		Lower Target	Buy ➝ Buy	$125.00 ➝ $110.00	+46.00%
8/30/2024	Baird R W Subscribe to MarketBeat All Access for the recommendation accuracy rating	S. Kothari Subscribe to MarketBeat All Access for the recommendation accuracy rating	Downgrade	Strong-Buy ➝ Hold
8/30/2024	DA Davidson Subscribe to MarketBeat All Access for the recommendation accuracy rating		Lower Target	Neutral ➝ Neutral	$100.00 ➝ $75.00	-1.56%
8/30/2024	Scotiabank Subscribe to MarketBeat All Access for the recommendation accuracy rating		Lower Target	Sector Outperform ➝ Sector Outperform	$135.00 ➝ $92.00	+21.79%
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8/30/2024	Needham & Company LLC Subscribe to MarketBeat All Access for the recommendation accuracy rating		Reiterated Rating	Hold
8/30/2024	Jefferies Financial Group Subscribe to MarketBeat All Access for the recommendation accuracy rating		Lower Target	Buy ➝ Buy	$140.00 ➝ $110.00	+45.62%
8/30/2024	Piper Sandler Subscribe to MarketBeat All Access for the recommendation accuracy rating		Lower Target	Overweight ➝ Overweight	$131.00 ➝ $100.00	+33.16%
8/30/2024	Wells Fargo & Company Subscribe to MarketBeat All Access for the recommendation accuracy rating		Lower Target	Overweight ➝ Overweight	$145.00 ➝ $100.00	+33.16%
8/30/2024	UBS Group Subscribe to MarketBeat All Access for the recommendation accuracy rating		Lower Target	Buy ➝ Buy	$135.00 ➝ $95.00	+26.50%
8/30/2024	Royal Bank of Canada Subscribe to MarketBeat All Access for the recommendation accuracy rating		Lower Target	Outperform ➝ Outperform	$135.00 ➝ $110.00	+46.47%
8/30/2024	TD Cowen Subscribe to MarketBeat All Access for the recommendation accuracy rating		Lower Target	Hold ➝ Hold	$110.00 ➝ $80.00	+5.26%
8/30/2024	Stifel Nicolaus Subscribe to MarketBeat All Access for the recommendation accuracy rating		Lower Target	Buy ➝ Buy	$120.00 ➝ $98.00	+28.95%
8/30/2024	Oppenheimer Subscribe to MarketBeat All Access for the recommendation accuracy rating		Lower Target	Outperform ➝ Outperform	$150.00 ➝ $125.00	+20.66%
8/30/2024	Truist Financial Subscribe to MarketBeat All Access for the recommendation accuracy rating		Lower Target	Buy ➝ Buy	$140.00 ➝ $105.00	+1.35%
8/30/2024	Robert W. Baird Subscribe to MarketBeat All Access for the recommendation accuracy rating		Downgrade	Outperform ➝ Neutral	$135.00 ➝ $95.00	-8.30%
8/30/2024	Bank of America Subscribe to MarketBeat All Access for the recommendation accuracy rating		Downgrade	Buy ➝ Neutral	$140.00 ➝ $94.00	-9.27%
8/28/2024	Citigroup Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Buy ➝ Buy	$155.00 ➝ $160.00	+55.67%
8/27/2024	Rosenblatt Securities Subscribe to MarketBeat All Access for the recommendation accuracy rating		Reiterated Rating	Buy ➝ Buy	$136.00 ➝ $136.00	+27.41%
5/24/2024	JPMorgan Chase & Co. Subscribe to MarketBeat All Access for the recommendation accuracy rating		Lower Target	Overweight ➝ Overweight	$138.00 ➝ $125.00	+18.82%
3/1/2024	The Goldman Sachs Group Subscribe to MarketBeat All Access for the recommendation accuracy rating		Boost Target	Neutral ➝ Neutral	$93.00 ➝ $106.00	-8.83%
12/1/2023	Wedbush Subscribe to MarketBeat All Access for the recommendation accuracy rating		Reiterated Rating	Neutral ➝ Neutral	$67.00	-36.77%
6/26/2023	William Blair Subscribe to MarketBeat All Access for the recommendation accuracy rating	K. Mielczarek Subscribe to MarketBeat All Access for the recommendation accuracy rating	Reiterated Rating	Market Perform

Analyst ratings data on MarketBeat is provided by Benzinga and other data providers. This page was last refreshed on Saturday at 12:57 PM ET.

ESTC Forecast - Frequently Asked Questions

: According to the research reports of 23 Wall Street equities research analysts, the average twelve-month stock price forecast for Elastic is $103.48, with a high forecast of $160.00 and a low forecast of $67.00.
: 23 Wall Street analysts have issued "buy," "hold," and "sell" ratings for Elastic in the last twelve months. There are currently 9 hold ratings and 14 buy ratings for the stock. The consensus among Wall Street analysts is that investors should "moderate buy" ESTC shares.
: According to analysts, Elastic's stock has a predicted upside of 33.78% based on their 12-month stock forecasts.
: Over the previous 90 days, Elastic's stock had 3 downgrades by analysts.
: Elastic has been rated by research analysts at Baird R W, Bank of America, Barclays, Canaccord Genuity Group, Citigroup, DA Davidson, Guggenheim, Jefferies Financial Group, Needham & Company LLC, Oppenheimer, Piper Sandler, Robert W. Baird, Rosenblatt Securities, Royal Bank of Canada, Scotiabank, Stifel Nicolaus, TD Cowen, Truist Financial, UBS Group, and Wells Fargo & Company in the past 90 days.
: Analysts like Elastic less than other "business services" companies. The consensus rating score for Elastic is 2.61 while the average consensus rating score for "business services" companies is 2.65. Learn more on how ESTC compares to other companies.