ESTC Price Prediction Next Week
Technical Analysis Based on the Fibonacci levels, ESTC is currently trading near its R1 level of $116.78, with strong resistance at R2 ($120.79). The RSI-14 reading of 61.17 indicates moderate bullish momentum without being overbought. The positive MACD of 3.54 confirms the upward trend.
News Impact Recent news shows strong positive sentiment for ESTC:
- Software stocks have seen significant rallies, with ESTC jumping over 10% in late January
- ESTC was among the top three leaders on January 28th, surging 11.79%
- Analysts project a 13.91% upside potential from current levels, with a target price of $129.04
Price Prediction for Next Week Based on technical indicators and news sentiment:
Target Scenarios:
- Bullish Case (60% probability): $120-122 (near R2 level)
- Base Case (30% probability): $115-117 (consolidation near R1)
- Bearish Case (10% probability): $103-105 (pullback to S1)
Trading Recommendation BUY with entry at current levels ($113-115) with initial target at $120.79 (R2). Set stop loss at $103.81 (S1).
Key Support Levels:
- S1: $103.81
- S2: $99.80
Key Resistance Levels:
- R1: $116.78
- R2: $120.79
The strong sector performance, positive technical indicators, and bullish analyst sentiment support an upward movement in the coming week. The stock is showing momentum while maintaining healthy technical levels, suggesting further upside potential.
ESTC Similar Chart Price Prediction
The price of ESTC is predicted to go up -5.41%, based on the high correlation periods with INTU. The similarity of these two price pattern on the periods is 98.02%.
ESTC
INTU
Down: -5.41%Similarity: 98.02%
ESTC Revenue Forecast
ESTC EPS Forecast
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ESTC VS S&P500
Elastic has strong secular tailwinds as the FSMA and security markets are expected to grow rapidly.
Elastic's multiprong product strategy, including its search, security, and FSMA offerings, can offer different points of entry into potential clients' IT ecosystems.
Elastic is competing in markets that we believe are filled with greenfield opportunities.
ESTC Analyst's Forecast
Patrick Colville
Scotiabank
Buy
2025-01-21
Price Target
$135 → $127
Upside
+26.54%
Scotiabank analyst Patrick Colville lowered the firm's price target on Elastic to $127 from $135 and keeps an Outperform rating on the shares. After a healthy FY24 where U.S. software equities performed well, the firm feels bullish in 2025 about the software sector, the analyst tells investors. The firm's forensic analysis points to software earnings surprises and estimate revisions.
Tyler Radke
Citigroup
Strong Buy
2024-11-25
Price Target
$136 → $150
Upside
+34.55%
Raimo Lenschow
Barclays
Buy
2024-11-25
Price Target
$105 → $138
Upside
+23.79%
