Elastic (NYSE:ESTC) Stock Price Expected to Rise, Barclays Analyst Says

Elastic (NYSE:ESTC) had its price objective lifted by equities research analysts at Barclays from $105.00 to $138.00 in a research note issued on Monday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Barclays‘s price target points to a potential upside of 23.72% from the stock’s current price.

Several other research analysts also recently weighed in on ESTC. Needham & Company LLC reissued a “hold” rating on shares of Elastic in a research report on Friday, November 22nd. UBS Group lowered their price objective on shares of Elastic from $135.00 to $95.00 and set a “buy” rating on the stock in a research report on Friday, August 30th. Jefferies Financial Group boosted their price objective on shares of Elastic from $110.00 to $135.00 and gave the company a “buy” rating in a research report on Friday, November 22nd. Wells Fargo & Company boosted their price objective on shares of Elastic from $100.00 to $135.00 and gave the company an “overweight” rating in a research report on Friday, November 22nd. Finally, Oppenheimer boosted their price objective on shares of Elastic from $125.00 to $140.00 and gave the company an “outperform” rating in a research report on Friday, November 22nd. Five investment analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Elastic currently has an average rating of “Moderate Buy” and an average target price of $126.33.

Elastic Stock Up 0.1 %

NYSE ESTC opened at $111.54 on Monday. 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 company’s 50 day simple moving average is $82.49 and its 200 day simple moving average is $96.96. Elastic has a 12 month low of $69.00 and a 12 month high of $136.06. The company has a market capitalization of $11.46 billion, a P/E ratio of 200.47 and a beta of 0.94.

Elastic (NYSE:ESTC) last released its earnings results on Thursday, August 29th. The company reported $0.35 EPS for the quarter, topping analysts’ consensus estimates of $0.25 by $0.10. Elastic had a net margin of 4.39% and a negative return on equity of 13.54%. The business had revenue of $347.42 million for the quarter, compared to the consensus estimate of $344.67 million. During the same period in the previous year, the firm earned ($0.35) EPS. The business’s revenue for the quarter was up 18.3% on a year-over-year basis. Equities research analysts expect that Elastic will post -0.92 earnings per share for the current fiscal year.

Insider Buying and Selling at Elastic

In other Elastic news, CEO Ashutosh Kulkarni sold 19,649 shares of the business’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 $1,380,342.25. Following the sale, the chief executive officer now owns 432,648 shares of the company’s stock, valued at $30,393,522. The trade was a 4.34 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Paul R. Auvil III purchased 20,000 shares of the stock in a transaction on Tuesday, September 3rd. The stock was acquired at an average cost of $74.25 per share, for a total transaction of $1,485,000.00. Following the acquisition, the director now directly owns 22,627 shares in the company, valued at approximately $1,680,054.75. This trade represents a 761.32 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have sold 37,406 shares of company stock valued at $2,627,772 in the last 90 days. 15.90% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Elastic

Several large investors have recently made changes to their positions in the company. Tidal Investments LLC grew its stake in shares of Elastic by 239.1% during the third quarter. Tidal Investments LLC now owns 9,807 shares of the company’s stock valued at $753,000 after purchasing an additional 6,915 shares during the last quarter. Virtu Financial LLC boosted its position in Elastic by 131.9% in the 3rd quarter. Virtu Financial LLC now owns 4,338 shares of the company’s stock valued at $333,000 after buying an additional 2,467 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Elastic by 3.7% in the 3rd quarter. Geode Capital Management LLC now owns 1,394,336 shares of the company’s stock valued at $107,058,000 after buying an additional 50,355 shares during the period. Vestcor Inc bought a new stake in shares of Elastic during the third quarter worth $1,919,000. Finally, M&T Bank Corp lifted its stake in shares of Elastic by 3.1% during the third quarter. M&T Bank Corp now owns 4,652 shares of the company’s stock valued at $357,000 after acquiring an additional 139 shares during the period. 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.