
Elastic N.V (ESTC) Stock Forecast & Price Target
Elastic N.V (ESTC) Analyst Ratings
Bulls say
Elastic demonstrated solid financial growth in Q3, with total revenue increasing by 17% year-over-year to $382.1 million, surpassing both internal estimates and market consensus. The subscription revenue also saw a robust increase of 16% year-over-year, reaching $358 million, while Elastic Cloud revenue climbed by 26% year-over-year to account for 47% of total revenue. Additionally, the growth of the $100k+ customer cohort by 15% year-over-year, combined with a stable net expansion rate of approximately 112%, underscores the company's strong positioning and resilience in the enterprise search and observability sectors.
Bears say
Elastic faces significant challenges that are likely to impact its future growth prospects, primarily stemming from anticipated weaknesses in annual recurring revenue (ARR) growth as the Covid-related acceleration in software sales cycles diminishes. Additionally, the company encounters a challenging financial environment characterized by year-over-year headwinds from prior shortfalls in bookings, currency fluctuations, and early renewals, which collectively complicate revenue forecasting. Macroeconomic fluctuations and competitive pressures further exacerbate concerns regarding the adoption of Elastic's solutions and the potential effectiveness of its growth strategies, indicating potential difficulties in maintaining financial stability and managing margins.
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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