Elastic (NYSE:ESTC) Given Average Recommendation of “Moderate Buy” by Analysts

Shares of Elastic (NYSE:ESTC) have received an average recommendation of “Moderate Buy” from the twenty-four analysts that are presently covering the stock, MarketBeat reports. Five analysts have rated the stock with a hold recommendation, eighteen have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $126.33.

Several research firms have recently issued reports on ESTC. DA Davidson raised their price target on Elastic from $75.00 to $115.00 and gave the stock a “neutral” rating in a research report on Friday, November 22nd. Baird R W upgraded Elastic from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 22nd. TD Cowen reduced their price target on Elastic from $110.00 to $80.00 and set a “hold” rating on the stock in a research report on Friday, August 30th. Scotiabank raised their price target on Elastic from $92.00 to $135.00 and gave the stock a “sector outperform” rating in a research report on Friday, November 22nd. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Elastic in a report on Friday, November 22nd.

Elastic Trading Down 0.6 %

ESTC stock opened at $109.46 on Monday. The business has a fifty day moving average price of $85.26 and a 200 day moving average price of $97.11. The stock has a market capitalization of $11.34 billion, a price-to-earnings ratio of 199.02 and a beta of 0.94. Elastic has a fifty-two week low of $69.00 and a fifty-two week high of $136.06. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.99 and a quick ratio of 1.91.

Elastic (NYSE:ESTC) last released its earnings results on Thursday, August 29th. The company reported $0.35 EPS for the quarter, beating the consensus estimate of $0.25 by $0.10. The company had revenue of $347.42 million during the quarter, compared to analysts’ expectations of $344.67 million. Elastic had a negative return on equity of 13.20% and a net margin of 4.39%. The business’s revenue for the quarter was up 18.3% on a year-over-year basis. During the same period last year, the firm earned ($0.35) EPS. Analysts expect that Elastic will post -0.79 EPS for the current fiscal year.

Insider Activity

In related news, Director Paul R. Auvil III purchased 20,000 shares of Elastic stock in a transaction that occurred on Tuesday, September 3rd. The shares were acquired at an average price of $74.25 per share, with a total value of $1,485,000.00. Following the completion of the transaction, the director now directly owns 22,627 shares of the company’s stock, valued at $1,680,054.75. This represents a 761.32 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Carolyn Herzog sold 11,145 shares of the stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $111.34, for a total value of $1,240,884.30. Following the sale, the insider now directly owns 92,011 shares in the company, valued at $10,244,504.74. This represents a 10.80 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 198,551 shares of company stock valued at $20,506,656. 15.90% of the stock is owned by insiders.

Institutional Investors Weigh In On Elastic

Large investors have recently added to or reduced their stakes in the stock. FMR LLC boosted its holdings in shares of Elastic by 25.6% in the 3rd quarter. FMR LLC now owns 5,475,297 shares of the company’s stock valued at $420,284,000 after purchasing an additional 1,115,750 shares in the last quarter. 1832 Asset Management L.P. acquired a new stake in shares of Elastic in the 2nd quarter valued at $248,335,000. Atreides Management LP boosted its holdings in shares of Elastic by 57.2% in the 3rd quarter. Atreides Management LP now owns 1,687,791 shares of the company’s stock valued at $129,555,000 after purchasing an additional 614,309 shares in the last quarter. State Street Corp boosted its holdings in shares of Elastic by 2.3% in the 3rd quarter. State Street Corp now owns 1,437,243 shares of the company’s stock valued at $110,323,000 after purchasing an additional 31,663 shares in the last quarter. Finally, Geode Capital Management LLC boosted its holdings 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 purchasing an additional 50,355 shares in the last quarter. Institutional investors and hedge funds 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.