Fintel reports that on June 5, 2023, Goldman Sachs maintained coverage of Elastic N.V (NYSE:ESTC) with a Neutral recommendation.

Analyst Price Forecast Suggests 3.03% Upside

As of June 2, 2023, the average one-year price target for Elastic N.V is 74.48. The forecasts range from a low of 55.55 to a high of $96.60. The average price target represents an increase of 3.03% from its latest reported closing price of 72.29.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for Elastic N.V is 1,092MM, an increase of 6.18%. The projected annual non-GAAP EPS is -0.02.

What is the Fund Sentiment?

There are 619 funds or institutions reporting positions in Elastic N.V. This is a decrease of 28 owner(s) or 4.33% in the last quarter. Average portfolio weight of all funds dedicated to ESTC is 0.33%, a decrease of 22.65%. Total shares owned by institutions decreased in the last three months by 3.65% to 79,480K shares. The put/call ratio of ESTC is 0.38, indicating a bullish outlook.

What are Other Shareholders Doing?

Baillie Gifford holds 7,634K shares representing 7.91% ownership of the company. In it’s prior filing, the firm reported owning 5,910K shares, representing an increase of 22.58%. The firm decreased its portfolio allocation in ESTC by 53.08% over the last quarter.

VWIGX – Vanguard International Growth Fund Investor Shares holds 4,896K shares representing 5.07% ownership of the company. In it’s prior filing, the firm reported owning 3,426K shares, representing an increase of 30.02%. The firm increased its portfolio allocation in ESTC by 39.15% over the last quarter.

Sylebra Capital holds 4,712K shares representing 4.88% ownership of the company. In it’s prior filing, the firm reported owning 4,566K shares, representing an increase of 3.11%. The firm decreased its portfolio allocation in ESTC by 8.39% over the last quarter.

FIL holds 3,381K shares representing 3.50% ownership of the company. In it’s prior filing, the firm reported owning 3,830K shares, representing a decrease of 13.27%. The firm decreased its portfolio allocation in ESTC by 46.19% over the last quarter.

Jpmorgan Chase holds 2,368K shares representing 2.45% ownership of the company. In it’s prior filing, the firm reported owning 2,409K shares, representing a decrease of 1.70%. The firm decreased its portfolio allocation in ESTC by 87.17% 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.

Key filings for this company:

• UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ? ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended April 30, 2022 ? TRANSITION REPORT PURSUANT

This article originally appeared on Fintel

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