Elastic (NYSE:ESTC) had its price objective increased by equities research analysts at Citigroup from $74.00 to $82.00 in a research note issued on Thursday. The brokerage currently has a “neutral” rating on the stock. Citigroup’s price objective would suggest a potential upside of 13.07% from the stock’s current price.

Several other research analysts have also recently weighed in on ESTC. Jefferies Financial Group initiated coverage on Elastic in a research report on Tuesday, October 30th. They issued a “hold” rating and a $65.00 price objective on the stock. Goldman Sachs Group initiated coverage on Elastic in a research report on Tuesday, October 30th. They issued a “buy” rating and a $68.00 price objective on the stock. Barclays initiated coverage on Elastic in a research report on Tuesday, October 30th. They issued an “overweight” rating and a $79.00 price objective on the stock. JPMorgan Chase & Co. initiated coverage on Elastic in a research report on Tuesday, October 30th. They issued a “neutral” rating and a $60.00 price objective on the stock. Finally, Bank of America initiated coverage on Elastic in a research report on Tuesday, October 30th. They issued a “buy” rating and a $81.00 price objective on the stock. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $72.13.

Shares of Elastic stock opened at $72.52 on Thursday. Elastic has a 12-month low of $58.55 and a 12-month high of $83.84.

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

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.

Recommended Story: Index Funds

Analyst Recommendations for Elastic (NYSE:ESTC)

Receive News & Ratings for Elastic Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Elastic and related companies with MarketBeat.com's FREE daily email newsletter.