Stifel Nicolaus Sticks to Its Buy Rating for Elastic (ESTC)

Stifel Nicolaus analyst Brad Reback maintained a Buy rating on Elastic (ESTCResearch Report) on December 2 and set a price target of $60.00. The company’s shares closed last Friday at $56.03.

Reback covers the Technology sector, focusing on stocks such as Intuit, Datadog, and Microsoft. According to TipRanks, Reback has an average return of 12.2% and a 55.97% success rate on recommended stocks.

In addition to Stifel Nicolaus, Elastic also received a Buy from Oppenheimer’s Ittai Kidron in a report issued on December 1. However, on the same day, Monness assigned a Hold rating to Elastic (NYSE: ESTC).

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Based on Elastic’s latest earnings release for the quarter ending October 31, the company reported a quarterly revenue of $264.4 million and a GAAP net loss of $47.31 million. In comparison, last year the company earned a revenue of $205.98 million and had a GAAP net loss of $47.02 million

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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.

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