UPDATE: JPMorgan Upgrades Elastic NV. (ESTC) to Overweight

JPMorgan analyst Mark Murphy upgraded Elastic NV. (NYSE: ESTC) from Neutral to Overweight with a price target of $156.00.

The analyst comments "While Elastic, at its core, is an open source search technology, it offers a very powerful set of software products that enable it to ingest, filter, store, search, and analyze data in any form, whether structured or unstructured. This enables the stack to generate insights from a wide variety of data sources, driving the wide applicability of the Elastic platform across a broad range of use cases. Our Dec 2022 price target of $156 is based on a ~15x EV/CY22E revenue multiple."

For an analyst ratings summary and ratings history on Elastic NV. click here. For more ratings news on Elastic NV. click here.

Shares of Elastic NV. closed at $116.44 yesterday.

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