
Elastic N.V (ESTC) Stock Forecast & Price Target
Elastic N.V (ESTC) Analyst Ratings
Bulls say
Elastic's third-quarter results highlighted a robust financial performance, with total subscription revenue reaching $358 million, reflecting a 16% year-over-year growth and surpassing prior estimates. The significant increase in the $100k+ customer cohort, which grew by 15% year-over-year, alongside a stable net expansion rate (NER) of approximately 112%, indicates strong customer retention and expansion. Additionally, Elastic Cloud revenue, accounting for 47% of total revenue, surged by 26% year-over-year to $180 million, underscoring the company's transition towards cloud-based solutions and its potential for continued growth.
Bears say
The analysis highlights a negative outlook for Elastic, driven by concerns over potentially weakening annual recurring revenue (ARR) growth as the COVID-19 crisis eases software sales cycles. Additional challenges include anticipated difficulties in ramping up the direct sales force, compounded by headwinds from a year-over-year shortfall in bookings and external economic factors, including currency fluctuations. Moreover, the company's optimistic investment in Generative AI could face hurdles due to uncertainties in market adoption, competitive dynamics, and risks associated with its international expansion and potential mergers and acquisitions.
This aggregate rating is based on analysts' research of Elastic N.V and is not a guaranteed prediction by Public.com or investment advice.
Elastic N.V (ESTC) Analyst Forecast & Price Prediction
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