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Elastic N.V. (ESTC, Application Software) Stock Valuation & Fair Value Mixed on our tests

Elastic N.V. (ESTC, Application Software) trades at a blended P/E of 32.4, about 65% below its historical normal valuation, with a forward growth estimate of 20.9% and a PEG of 1.55. Priced at its historical normal P/E of 93.8 on the same blended earnings, the 2026-10-02 close of $93.94 corresponds to about $272 a share. This is a valuation reference, not a price target.

DATA AS OF 2026-10-05
Blended P/E
32.4
Normal P/E
93.8
PEG
1.55
Fwd growth
20.9%
Div yield
0.0%
RSI (14)
62.3
Neutral
Technical context
  • Price $95.26 at the 2026-10-08 close, 6.0% above the 20-day average ($89.84) and 11.7% above the 50-day ($85.28).
  • RSI (14) at 62.3.
  • 52-week range $43.30 to $99.91: the price is 4.7% below the high and 120.0% above the low.

The Street vs SeerForecast

Wall Street's mean price target for ESTC is $110.69 across 26 analysts, 16.2% above the current price. The average analyst rating is Buy. Our SeerForecast read of the same stock, formed without analyst targets: mixed on our tests. When the two disagree, start your digging there.

Valuation flags

Verdict history

tickerseer's rating moved from favorable on our tests (2026-08-21) to mixed on our tests (2026-10-05).

Blended P/E and rating by weekBlended P/E moved from 30.9 to 32.4 between 2026-08-21 and 2026-10-02, against a normal P/E of 93.8, with 1 rating change over 16 recorded weeks.2026-08-21: P/E 30.9, Favorable on our tests, recalculated for the week of 2026-08-212026-08-21: P/E 30.9, Favorable on our tests, recorded live 2026-08-242026-08-27: P/E 30.9, Favorable on our tests, recalculated for the week of 2026-08-272026-08-28: P/E 30.9, Favorable on our tests, recalculated for the week of 2026-08-282026-08-28: P/E 30.9, Favorable on our tests, recalculated for the week of 2026-08-302026-08-28: P/E 35.4, Mixed on our tests, recorded live 2026-08-312026-09-04: P/E 35.4, Mixed on our tests, recalculated for the week of 2026-09-052026-09-04: P/E 32.4, Mixed on our tests, recorded live 2026-09-072026-09-11: P/E 32.4, Mixed on our tests, recalculated for the week of 2026-09-122026-09-11: P/E 29.2, Mixed on our tests, recorded live 2026-09-142026-09-18: P/E 29.2, Mixed on our tests, recalculated for the week of 2026-09-192026-09-18: P/E 30.3, Mixed on our tests, recorded live 2026-09-212026-09-25: P/E 30.3, Mixed on our tests, recalculated for the week of 2026-09-262026-09-25: P/E 30.6, Mixed on our tests, recorded live 2026-09-282026-10-02: P/E 30.6, Mixed on our tests, recalculated for the week of 2026-10-032026-10-02: P/E 32.4, Mixed on our tests, recorded live 2026-10-0540.060.080.0Aug 21Aug 31Sep 11Sep 22Oct 2Normal P/E 93.8
Favorable on our testsMixed on our tests

Not every point was recorded live. Points marked recalculated apply today's valuation rules to the metrics tickerseer archived that week.

Selected weeks: the first, the latest, every week the rating moved, and the cheapest and dearest.

WeekBlended P/EPremium to normal P/ERating
2026-08-21P/E 30.9-67%Favorable on our tests (recalculated)
2026-08-31P/E 35.4-62%Mixed on our tests
2026-09-14P/E 29.2-69%Mixed on our tests
2026-10-05P/E 32.4-65%Mixed on our tests ← now
Show all 16 weeks
WeekBlended P/EPremium to normal P/ERating
2026-08-21P/E 30.9-67%Favorable on our tests (recalculated)
2026-08-24P/E 30.9-67%Favorable on our tests
2026-08-27P/E 30.9-67%Favorable on our tests (recalculated)
2026-08-28P/E 30.9-67%Favorable on our tests (recalculated)
2026-08-30P/E 30.9-67%Favorable on our tests (recalculated)
2026-08-31P/E 35.4-62%Mixed on our tests
2026-09-05P/E 35.4-62%Mixed on our tests (recalculated)
2026-09-07P/E 32.4-66%Mixed on our tests
2026-09-12P/E 32.4-66%Mixed on our tests (recalculated)
2026-09-14P/E 29.2-69%Mixed on our tests
2026-09-19P/E 29.2-69%Mixed on our tests (recalculated)
2026-09-21P/E 30.3-68%Mixed on our tests
2026-09-26P/E 30.3-68%Mixed on our tests (recalculated)
2026-09-28P/E 30.6-67%Mixed on our tests
2026-10-03P/E 30.6-67%Mixed on our tests (recalculated)
2026-10-05P/E 32.4-65%Mixed on our tests ← now

Frequently asked questions

Is Elastic N.V. stock overvalued?

At a blended P/E of 32.4 versus its historical normal P/E of 93.8, Elastic N.V. trades about 65% below its typical valuation, with a PEG of 1.55 on 20.9% forward growth. tickerseer currently rates it mixed on our tests.

What is Elastic N.V.'s fair value and PEG?

Elastic N.V. trades at a blended P/E of 32.4 against a historical normal P/E of 93.8, a PEG of 1.55, and a forward growth estimate of 20.9%. Priced at its historical normal P/E of 93.8 on the same blended earnings, the 2026-10-02 close of $93.94 corresponds to about $272 a share. This is a valuation reference, not a price target.

Has tickerseer's rating of Elastic N.V. changed?

tickerseer's rating moved from favorable on our tests (2026-08-21) to mixed on our tests (2026-10-05).

What is the analyst price target for Elastic N.V.?

The mean Wall Street price target for Elastic N.V. is $110.69 across 26 analysts, 16.2% above the current price. tickerseer's SeerForecast verdict is formed independently of analyst targets.

Industry: Application Software. Create a free account to see the full analysis: the SeerAI score, its five quality sub-scores, valuation history, and the AI research note. Options setups and metric history are part of the paid plans.

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