Elastic (NYSE:ESTC) had its target price upped by equities research analysts at Barclays to $85.00 in a research note issued on Wednesday, The Fly reports. The firm presently has an “overweight” rating on the stock. Barclays’ price objective suggests a potential upside of 12.82% from the stock’s current price.

Other research analysts also recently issued reports about the company. Bank of America initiated coverage on Elastic in a research note on Tuesday, October 30th. They issued a “buy” rating and a $81.00 price target for the company. Goldman Sachs Group initiated coverage on Elastic in a research note on Tuesday, October 30th. They issued a “buy” rating and a $68.00 price target for the company. Canaccord Genuity initiated coverage on Elastic in a research note on Tuesday, October 30th. They issued a “hold” rating and a $65.00 price target for the company. Jefferies Financial Group initiated coverage on Elastic in a report on Tuesday, October 30th. They set a “hold” rating and a $65.00 price objective on the stock. Finally, Citigroup initiated coverage on Elastic in a report on Tuesday, October 30th. They set a “neutral” rating and a $74.00 price objective on the stock. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Elastic currently has an average rating of “Buy” and an average target price of $72.13.

ESTC stock opened at $75.34 on Wednesday. Elastic has a 1-year low of $58.55 and a 1-year high of $83.84.

Elastic (NYSE:ESTC) last posted its quarterly earnings results on Tuesday, December 4th. The company reported ($0.38) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.47) by $0.09. The business had revenue of $63.60 million during the quarter, compared to the consensus estimate of $56.54 million. The business’s revenue for the quarter was up 71.9% on a year-over-year basis.

About Elastic

Elastic N.V. develops and delivers technology that enables users to search structured and unstructured data for a range of consumer and enterprise applications. It primarily provides Elastic Stack, a set of software products that ingest and store data from various sources and formats, as well as performs search, analysis, and visualization.

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Analyst Recommendations for Elastic (NYSE:ESTC)

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