Monness analyst Brian White maintained a Buy rating on Elastic today and set a price target of $111.00.
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Brian White has given his Buy rating due to a combination of factors that highlight Elastic’s potential for growth and recovery. Despite a challenging fiscal year 2025 and a notable decline in stock performance, Elastic is poised to benefit from emerging technology trends, particularly in the realm of generative AI, which could enhance its market position and expand its profit margins.
White anticipates a 15% growth in revenue for the first quarter of fiscal year 2026, with Elastic expected to meet or exceed revenue and earnings per share forecasts. Additionally, the company’s strategic focus on larger enterprise accounts and improvements in its go-to-market strategy are likely to yield positive results in the coming months. While the macroeconomic environment remains uncertain, these strategic initiatives and the potential for cloud growth position Elastic favorably for future success.
In another report released today, Barclays also maintained a Buy rating on the stock with a $105.00 price target.
Based on the recent corporate insider activity of 52 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of ESTC in relation to earlier this year.