Elastic NV’s (ESTC) Quiet Period Set To Expire Tomorrow

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Elastic’s (NYSE:ESTC) quiet period will end on Wednesday, November 14th. Elastic had issued 7,000,000 shares in its IPO on October 5th. The total size of the offering was $252,000,000 based on an initial share price of $36.00. During the company’s quiet period, insiders and any underwriters involved in the IPO are prevented from issuing any research reports or earnings estimates for the company because of SEC regulations. Following the expiration of the company’s quiet period, it’s expected that the brokerages that served as underwriters on the stock will initiate research coverage on the company.

ESTC has been the subject of several analyst reports. Bank of America initiated coverage on shares of Elastic in a report on Tuesday, October 30th. They issued a “buy” rating and a $81.00 target price for the company. Canaccord Genuity initiated coverage on shares of Elastic in a report on Tuesday, October 30th. They issued a “hold” rating and a $65.00 target price for the company. Jefferies Financial Group initiated coverage on shares of Elastic in a report on Tuesday, October 30th. They issued a “hold” rating and a $65.00 target price for the company. Citigroup initiated coverage on shares of Elastic in a report on Tuesday, October 30th. They issued a “neutral” rating and a $74.00 target price for the company. Finally, Royal Bank of Canada initiated coverage on shares of Elastic in a report on Tuesday, October 30th. They issued an “outperform” rating and a $71.00 target price for the company. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $70.38.

Elastic stock opened at $66.50 on Tuesday. Elastic has a 12-month low of $58.55 and a 12-month high of $76.80.

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Elastic Company Profile

Elastic N.V. develops and delivers technology that enables users to search structured and unstructured data for a range of consumer and enterprise applications. It primarily provides Elastic Stack, a set of software products that ingest and store data from various sources and formats, as well as performs search, analysis, and visualization.

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