ESTC Stock Summary and Trading Ideas (Elastic N.V. | NYSE:ESTC)

Elastic is a software company based in Mountain View, California, focusing on search-adjacent products. Its search engine allows it to process both structured and unstructured data while gleaning insights from that data. The firm's primary focus is on enterprise search, observability, and security.

Elastic N.V. trades on the NYSE stock market under the symbol ESTC.

As of April 26, 2024, ESTC stock price climbed to $107.86 with 587,397 million shares trading.

ESTC has a beta of 0.88, meaning it tends to be less sensitive to market movements. ESTC has a correlation of 0.04 to the broad based SPY ETF.

ESTC has a market cap of $10.62 billion. This is considered a Large Cap stock.

Last quarter Elastic N.V. reported $328 million in Revenue and $.36 earnings per share. This beat revenue expectation by $8 million and exceeded earnings estimates by $.05.

In the last 3 years, ESTC stock traded as high as $189.84 and as low as $46.18.

The top ETF exchange traded funds that ESTC belongs to (by Net Assets): VTI, VB, VXF, VBK, VGT.

ESTC has outperformed the market in the last year with a price return of +92.0% while the SPY ETF gained +26.9%. However, in the short term, ESTC had mixed performance relative to the market. It has underperformed in the last 3 months, returning -8.7% vs +4.6% return in SPY. But in the last 2 weeks, ESTC shares have fared better than the market returning +8.0% compared to SPY -1.8%.

ESTC support price is $102.71 and resistance is $106.87 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that ESTC stock will trade within this expected range on the day.