Barclays (LON:BARC) analyst Raimo Lenschow maintained a Buy rating on Elastic (NYSE:ESTC) on Thursday, setting a price target of $124, which is approximately 12.33% above the present share price of $110.39.
Lenschow expects Elastic to post earnings per share (EPS) of -$0.38 for the third quarter of 2020.
The current consensus among 14 TipRanks analysts is for a Strong Buy rating of shares in Elastic, with an average price target of $124.86.
The analysts price targets range from a high of $145 to a low of $90.
In its latest earnings report, released on 04/30/2020, the company reported a quarterly revenue of $123.62 million and a net profit of -$34.57 million. The company's market cap is $9.41 billion.
According to TipRanks.com, Barclays analyst Raimo Lenschow is currently ranked with 5 stars on a 0-5 stars ranking scale, with an average return of 24.9% and a 75.12% success rate.
Elastic NV engages in the provision of open source search and analytics engine services. It offers Elastic Stack, which is a set of software products that ingest and store data from any source, in any format, and perform search, analysis, and visualization. The company was founded by Shay Banon, Uri Boness, Steven Schuurman, and Simon Willnauer on February 9, 2012 and is headquartered in Mountain View, CA.