Elastic (NYSE:ESTC) Stock Rating Upgraded by William Blair

Elastic (NYSE:ESTC) was upgraded by William Blair from a “market perform” rating to an “outperform” rating in a report issued on Monday, Marketbeat.com reports.

A number of other equities analysts also recently commented on ESTC. Scotiabank lowered their target price on shares of Elastic from $135.00 to $92.00 and set a “sector outperform” rating for the company in a research note on Friday, August 30th. Oppenheimer lowered their price objective on Elastic from $150.00 to $125.00 and set an “outperform” rating for the company in a research report on Friday, August 30th. Needham & Company LLC reissued a “hold” rating on shares of Elastic in a research report on Tuesday, October 8th. Stifel Nicolaus lowered their price target on Elastic from $120.00 to $98.00 and set a “buy” rating for the company in a report on Friday, August 30th. Finally, Bank of America cut shares of Elastic from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $140.00 to $94.00 in a report on Friday, August 30th. Eight research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $103.71.

Elastic Trading Down 1.2 %

ESTC opened at $82.15 on Monday. Elastic has a 12 month low of $69.00 and a 12 month high of $136.06. The stock has a market capitalization of $8.36 billion, a price-to-earnings ratio of 155.00 and a beta of 0.94. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.91 and a quick ratio of 1.91. The business has a fifty day moving average price of $86.59 and a 200 day moving average price of $100.05.

Elastic (NYSE:ESTC) last announced its quarterly earnings data on Thursday, August 29th. The company reported $0.35 EPS for the quarter, topping analysts’ consensus estimates of $0.25 by $0.10. The business had revenue of $347.42 million during the quarter, compared to the consensus estimate of $344.67 million. Elastic had a negative return on equity of 17.54% and a net margin of 4.62%. The business’s revenue for the quarter was up 18.3% on a year-over-year basis. During the same period in the previous year, the company posted ($0.35) earnings per share. Sell-side analysts expect that Elastic will post -0.91 earnings per share for the current fiscal year.

Insider Activity at Elastic

In other news, insider Carolyn Herzog sold 4,489 shares of the firm’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $70.25, for a total value of $315,352.25. Following the completion of the sale, the insider now owns 102,959 shares in the company, valued at approximately $7,232,869.75. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, insider Carolyn Herzog sold 4,489 shares of the stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $70.25, for a total transaction of $315,352.25. Following the completion of the transaction, the insider now directly owns 102,959 shares of the company’s stock, valued at approximately $7,232,869.75. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Paul R. Auvil III purchased 20,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was acquired at an average price of $74.25 per share, for a total transaction of $1,485,000.00. Following the completion of the purchase, the director now owns 22,627 shares of the company’s stock, valued at approximately $1,680,054.75. This represents a 700.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have sold a total of 37,406 shares of company stock worth $2,627,772 in the last three months. Insiders own 18.10% of the company’s stock.

Hedge Funds Weigh In On Elastic

Large investors have recently made changes to their positions in the stock. Asset Dedication LLC increased its stake in Elastic by 1,333.3% in the 2nd quarter. Asset Dedication LLC now owns 301 shares of the company’s stock valued at $34,000 after purchasing an additional 280 shares in the last quarter. AlphaCentric Advisors LLC purchased a new stake in shares of Elastic in the 2nd quarter worth about $40,000. Quarry LP acquired a new stake in Elastic in the 2nd quarter valued at about $40,000. Lynx Investment Advisory acquired a new stake in Elastic in the 2nd quarter valued at about $43,000. Finally, Signaturefd LLC raised its position in Elastic by 44.1% during the second quarter. Signaturefd LLC now owns 389 shares of the company’s stock worth $44,000 after acquiring an additional 119 shares during the last quarter. Hedge funds and other institutional investors own 97.03% of the company’s stock.

About Elastic

Elastic N.V., a data analytics company, delivers solutions designed to run in public or private clouds in multi-cloud environments. It primarily offers Elastic Stack, a set of software products that ingest and store data from various sources and formats, as well as performs search, analysis, and visualization on that data.