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Elastic Earns IBD Rating Upgrade

The Relative Strength (RS) Rating for Elastic (ESTC) moved up into a new percentile Monday, as it got a lift from 68 to 72.

When looking for the best stocks to buy and watch, one factor to watch closely is relative price strength.

IBD’s proprietary rating measures price performance with a 1 (worst) to 99 (best) score. The rating shows how a stock’s price behavior over the trailing 52 weeks stacks up against all the other stocks in our database.

Decades of market research reveals that the best stocks typically have an 80 or higher RS Rating as they launch their largest runs. See if Elastic can continue to rebound and clear that threshold.


Looking For The Best Stocks To Buy And Watch? Start Here


Elastic is not currently showing a potential entry point. See if the stock goes on to build a base that could launch a new move.

EPS growth decreased last quarter from 0% to -33%, but sales rose from 44% to 50%.

Elastic earns the No. 14 rank among its peers in the Computer Software-Database industry group. Dropbox (DBX) and Workiva (WK) are also among the group’s highest-rated stocks.

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