Elastic (NYSE:ESTC) Research Coverage Started at Cantor Fitzgerald

Cantor Fitzgerald began coverage on shares of Elastic (NYSE:ESTC) in a research note published on Friday, MarketBeat reports. The firm issued a neutral rating and a $108.00 price objective on the stock.

Several other research firms have also weighed in on ESTC. Morgan Stanley initiated coverage on Elastic in a report on Tuesday, December 17th. They set an “overweight” rating and a $130.00 target price on the stock. Scotiabank raised their target price on Elastic from $92.00 to $135.00 and gave the company a “sector outperform” rating in a report on Friday, November 22nd. Rosenblatt Securities restated a “buy” rating and set a $120.00 target price on shares of Elastic in a report on Wednesday, November 20th. Baird R W upgraded Elastic from a “hold” rating to a “strong-buy” rating in a report on Friday, November 22nd. Finally, William Blair upgraded Elastic from a “market perform” rating to an “outperform” rating in a report on Monday, October 14th. Seven analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $125.70.

Elastic Price Performance

Shares of NYSE:ESTC opened at $100.49 on Friday. The company has a current ratio of 1.99, a quick ratio of 1.99 and a debt-to-equity ratio of 0.70. Elastic has a 1 year low of $69.00 and a 1 year high of $136.06. The business has a fifty day simple moving average of $101.65 and a 200 day simple moving average of $95.60. The firm has a market cap of $10.41 billion, a price-to-earnings ratio of 182.70 and a beta of 1.06.

Insider Buying and Selling at Elastic

In other news, CTO Shay Banon sold 150,000 shares of Elastic stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $110.92, for a total value of $16,638,000.00. Following the completion of the transaction, the chief technology officer now owns 2,604,978 shares in the company, valued at approximately $288,944,159.76. The trade was a 5.44 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Carolyn Herzog sold 11,145 shares of Elastic stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $111.34, for a total transaction of $1,240,884.30. Following the completion of the transaction, the insider now owns 92,011 shares of the company’s stock, valued at $10,244,504.74. This trade represents a 10.80 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 168,162 shares of company stock valued at $18,637,562. 15.90% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Quarry LP bought a new position in shares of Elastic in the second quarter valued at approximately $40,000. FNY Investment Advisers LLC raised its position in Elastic by 87.3% in the 4th quarter. FNY Investment Advisers LLC now owns 749 shares of the company’s stock worth $74,000 after purchasing an additional 349 shares during the last quarter. Eastern Bank bought a new position in Elastic in the 3rd quarter worth approximately $61,000. Janney Montgomery Scott LLC bought a new position in Elastic in the 4th quarter worth approximately $202,000. Finally, Blue Trust Inc. raised its position in Elastic by 21.2% in the 3rd quarter. Blue Trust Inc. now owns 2,582 shares of the company’s stock worth $198,000 after purchasing an additional 452 shares during the last quarter. Institutional investors own 97.03% of the company’s stock.

Elastic Company Profile

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.