Analyst Expectations for Elastic's Future
Portfolio Pulse from Benzinga Insights
Elastic (NYSE:ESTC) has received 8 analyst ratings in the last quarter, with 4 bullish, 2 somewhat bullish, and 2 indifferent. There were no bearish ratings. The average price target among these analysts is $91.38, which is below the current price of $96.51, suggesting a potential downside. Over the past month, this price target has increased by 23.49%. Analyst ratings are periodic evaluations from financial experts who specialize in stock analysis, and they may influence investor decisions.
December 01, 2023 | 2:00 pm
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NEGATIVE IMPACT
Elastic has a majority of positive analyst ratings with no bearish outlooks, but the average price target suggests a potential downside from the current stock price. The target price has seen a significant increase over the past month.
The short-term impact on ESTC's stock price could be negative due to the average analyst price target being below the current trading price, indicating that the stock might be overvalued. However, the positive sentiment and the recent increase in the target price could mitigate this impact. The confidence level is not at the maximum because analyst ratings are not always accurate predictors of stock movement.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 100