Elastic (NYSE:ESTC) Receives Consensus Rating of “Moderate Buy” from Brokerages

Elastic (NYSE:ESTC) has earned an average rating of “Moderate Buy” from the twenty-six brokerages that are currently covering the stock, MarketBeat reports. Seven equities research analysts have rated the stock with a hold recommendation, eighteen have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $125.35.

Several analysts have recently issued reports on the stock. Piper Sandler upped their target price on shares of Elastic from $100.00 to $130.00 and gave the company an “overweight” rating in a research report on Friday, November 22nd. Morgan Stanley initiated coverage on shares of Elastic in a research note on Tuesday, December 17th. They issued an “overweight” rating and a $130.00 target price on the stock. Royal Bank of Canada upped their target price on shares of Elastic from $110.00 to $130.00 and gave the stock an “outperform” rating in a research note on Friday, November 22nd. Needham & Company LLC reiterated a “hold” rating on shares of Elastic in a research note on Friday, November 22nd. Finally, Baird R W raised shares of Elastic from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 22nd.

Elastic Trading Down 3.7 %

Shares of ESTC stock opened at $113.21 on Friday. The company has a market cap of $11.73 billion, a price-to-earnings ratio of 205.83 and a beta of 1.07. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.99 and a quick ratio of 1.99. The firm has a fifty day moving average price of $105.48 and a 200-day moving average price of $95.30. Elastic has a 1 year low of $69.00 and a 1 year high of $136.06.

Insider Buying and Selling at Elastic

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

Institutional Investors Weigh In On Elastic

Hedge funds have recently modified their holdings of the business. SBI Securities Co. Ltd. bought a new position in Elastic in the fourth quarter worth $25,000. Geneos Wealth Management Inc. bought a new position in Elastic in the fourth quarter worth $25,000. Venturi Wealth Management LLC lifted its position in Elastic by 793.3% in the fourth quarter. Venturi Wealth Management LLC now owns 268 shares of the company’s stock worth $27,000 after purchasing an additional 238 shares during the period. Smartleaf Asset Management LLC lifted its position in Elastic by 126.4% in the fourth quarter. Smartleaf Asset Management LLC now owns 283 shares of the company’s stock worth $28,000 after purchasing an additional 158 shares during the period. Finally, Global Retirement Partners LLC lifted its position in Elastic by 1,065.2% in the fourth quarter. Global Retirement Partners LLC now owns 536 shares of the company’s stock worth $53,000 after purchasing an additional 490 shares during the period. 97.03% of the stock is owned by institutional investors.

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.