Can Buying Elastic N.V (NYSE: ESTC) Still Be Worthwhile?

Elastic N.V (NYSE:ESTC) does about 1.30M shares in volume on a normal day but saw 1178930 shares change hands in Tuesday’s trading. The company now has a market cap of 11.02B USD. Its current market price is $109.31, marking an increase of 1.78% compared to the previous close of $107.40. The 52 week high reached by this stock is $136.06 whilst the lowest price level in 52 weeks is $57.38.

Elastic N.V (ESTC) has a 20-day trading average at $103.71 and the current price is -19.66% off the 52-week high compared with 90.50% distance from its 52-week low. The 50-day simple moving average of the closing price is $102.19 and its 200-day simple moving average is $94.56. If we look at the stock’s price movements over the week, volatility stands at 1.88%, which increases to 2.98% over 1 month. It is also key to look at other market indicators of price movement for the stock, where we see that the relative strength index (RSI) is at 63.09 to suggest the stock is neutral.

The consensus objective for the share price is $134.03, suggesting that the stock has a potential upside of 18.44% over the period.

The company shares received a number of brokerage firm price updates over the past month, with the latest being on February 15, 2024 when Scotiabank initiated the stock to “Sector Outperform” and issued a price target of $185. Barclays downgraded the stock to “Equal Weight” from Overweight on January 12, 2024 at a price target of $100-$110. Wells Fargo upgraded its price target at $90-$108.

Elastic N.V (ESTC) stock is up 2.21% over the week and 15.25% over the past month. Its price is -3.01% year-to-date and 87.01% over the past year.

To reach the target analysts have set, the stock logically needs to grow 18.44 percent from here.

The company has a return on investment of 4.34% and return on equity of 10.26%. The price to earnings ratio (P/E ratio) amounts to 238.72 while the forward price to earnings ratio is 80.23. The beta has a value of 0.93. Price to book ratio is 15.57 and price to sales ratio is 9.09.