Is Elastic NV (ESTC) Stock About to Get Hot Monday?

Overall market sentiment has been high on Elastic NV (ESTC) stock lately. ESTC receives a Bullish rating from InvestorsObserver Stock Sentiment Indicator.

Elastic NV has a Bullish sentiment reading. Find out what this means for you and get the rest of the rankings on ESTC!

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What is Stock Sentiment?

In investing, sentiment generally means whether or not a given security is in favor with investors. It is typically a pretty short-term metric that relies entirely on technical analysis. That means it doesn’t incorporate anything to do with the health or profitability of the underlying company. Changes in price are generally the best indicator of sentiment for a particular stock. At its core, a stock's trend indicates whether current market sentiment is bullish or bearish. Investors must be bullish if a stock is trending upward, and are bearish if a stock is moving down. InvestorsObserver's Sentiment Indicator factors in both price changes and variations in volume. An increase in volume usually means a current trend is stengthening, while a drop in volume tends to signal a reversal to the ongoing trend. Our system also uses the options market in order to receive additional signals on current sentiments. We take into account the ratio of calls and puts for a stock since options allow an investor to bet on future changes in price.

What's Happening With ESTC Stock Today?

Elastic NV (ESTC) stock has fallen -8.07% while the S&P 500 is higher by 0.12% as of 1:30 PM on Monday, May 16. ESTC is lower by -$5.16 from the previous closing price of $63.92 on volume of 653,402 shares. Over the past year the S&P 500 is lower by -3.23% while ESTC is lower by -45.90%. ESTC lost -$1.98 per share in the over the last 12 months.

More About Elastic NV

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. Click Here to get the full Stock Report for Elastic NV stock.