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ESTC

Elastic

$80.23

0.62 (0.78%)

07:14
08/29/19
08/29
07:14
08/29/19
07:14

Elastic's 'strong' Q1 should drive stock rally, says Barclays

Elastic should see a "healthy" share price reaction following last night's "strong" Q1 results, Barclays analyst Raimo Lenschow tells investors in a research note. The stock in premarket trading is up 12% to $89.49. The analyst believes there was a "healthy level of skepticism" going into the print. However, Elastic confirmed its status as a "premium growth asset" in software with better than expected billings and revenue growth, contends Lenschow. He maintains an Overweight rating on the shares and ticked up his price target for the shares to $109 from $108.

  • 10

    Sep

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    Dec

  • 16

    Dec

ESTC Elastic
$80.23

0.62 (0.78%)

06/20/19
LEHM
06/20/19
NO CHANGE
Target $108
LEHM
Overweight
Elastic bear thesis around AWS competition overblown, says Barclays
Barclays analyst Raimo Lenschow believes the bear thesis for Elastic (ESTC) around competition from Amazon Web Services' (AMZN) Open Distro is overblown. The features released by AWS will likely help it convert a share of the millions of free users onto its platform, but Elastic focuses on large scale deployments, Lenschow tells investors in a research note. This is where Elastic will continue to generate the vast majority of its sales growth, says the analyst. He believes the company's runway of growth with enterprises is unaffected by Open Distro and encourages long-term investors to buy into the recent share weakness caused by the lockup expiry. Lenschow reiterates an Overweight rating on Elastic with a $108 price target.
08/14/19
RBCM
08/14/19
UPGRADE
Target $112
RBCM
Outperform
Elastic upgraded to Outperform from Sector Perform at RBC Capital
RBC Capital analyst Matt Hedberg upgraded Elastic (ESTC) to Outperform and raised his price target to $112 from $94, saying that the company has now reported two strong quarters even though the stock has traded range-bound based on concerns around billings growth and the competition from Amazon's (AMZN) AWS. The analyst adds that his recent bus tour with the management has increased his confidence on his original bullish thesis on Elastic, and he sees the company continuing its "strong execution with an upward bias to estimates."
08/29/19
JEFF
08/29/19
NO CHANGE
Target $90
JEFF
Hold
Elastic's 'strong' momentum continued in fiscal Q1, says Jefferies
Jefferies analyst John DiFucci says Elastic's "strong" fiscal Q1 results reflect accelerating new business trends, while its "best-in-class" recurring revenue growth rates "moderated some." The analyst sees a "groundswell of momentum" to use Elastic in the security market, but he keeps a Hold rating on the shares with a $90 price target. The shares trade at a significant premium to peers, DiFucci tells investors in a research note.
08/29/19
STFL
08/29/19
NO CHANGE
Target $100
STFL
Hold
Elastic price target raised to $100 from $85 at Stifel
Stifel analyst Brad Reback raised his price target for Elastic to $100 from $85 saying the company reported a "solid start" to fiscal 2020 with all key business metrics coming in ahead of guidance and consensus. Last night's results and "continued healthy market demand" led management to walk up fiscal 2020 revenue guidance by more than this quarter's beat, Reback tells investors in a research note. However, at current share levels, the analyst views Elastic as "appropriately-valued." He keeps a Hold rating on the name.

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