Wall Street Analysts Believe Elastic (ESTC) Could Rally 35.65%: Here's is How to Trade

Group 1 - Elastic (ESTC) closed at $82.69, with a 2.3% gain over the past four weeks, and a mean price target of $112.17 suggests a 35.7% upside potential [1] - The average of 24 short-term price targets ranges from a low of $75.00 to a high of $148.00, with a standard deviation of $15.45, indicating variability among analysts [2] - Analysts show strong agreement in revising EPS estimates higher, which correlates with potential stock price movements [11] Group 2 - The Zacks Consensus Estimate for the current year has increased by 68.8% over the past month, with nine estimates going higher and two lower [12] - ESTC holds a Zacks Rank 2 (Buy), placing it in the top 20% of over 4,000 ranked stocks based on earnings estimates [13] - While consensus price targets may not be reliable for predicting gains, they can indicate the direction of price movement [14]