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

Shares of Elastic (NYSE:ESTC) have received an average rating of “Moderate Buy” from the twenty-six research firms that are presently covering the stock, MarketBeat.com reports. Seven equities research 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 target price among brokers that have covered the stock in the last year is $131.52.

Several analysts have weighed in on ESTC shares. The Goldman Sachs Group boosted their price objective on shares of Elastic from $99.00 to $113.00 and gave the company a “neutral” rating in a research report on Friday, November 22nd. UBS Group boosted their price objective on shares of Elastic from $140.00 to $148.00 and gave the company a “buy” rating in a research report on Friday, February 28th. Needham & Company LLC restated a “hold” rating on shares of Elastic in a research report on Friday, November 22nd. Royal Bank of Canada boosted their price objective on shares of Elastic from $110.00 to $130.00 and gave the company an “outperform” rating in a research report on Friday, November 22nd. Finally, DA Davidson boosted their price objective on shares of Elastic from $75.00 to $115.00 and gave the company a “neutral” rating in a research report on Friday, November 22nd.

Elastic Stock Performance

NYSE ESTC opened at $97.27 on Wednesday. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.99 and a current ratio of 1.99. The company has a market capitalization of $10.16 billion, a P/E ratio of 176.85 and a beta of 1.20. The company has a fifty day moving average of $106.00 and a 200-day moving average of $95.13. Elastic has a 52-week low of $69.00 and a 52-week high of $123.96.

Elastic (NYSE:ESTC) last posted its quarterly earnings results on Thursday, February 27th. The company reported ($0.01) earnings per share for the quarter, missing the consensus estimate of $0.47 by ($0.48). The business had revenue of $382.08 million during the quarter, compared to the consensus estimate of $368.85 million. Elastic had a negative return on equity of 13.20% and a net margin of 4.39%. As a group, equities research analysts predict that Elastic will post -0.77 EPS for the current fiscal year.

Insider Buying and Selling at Elastic

In other news, CTO Shay Banon sold 25,668 shares of the firm’s stock in a transaction dated Sunday, March 2nd. The shares were sold at an average price of $112.53, for a total value of $2,888,420.04. Following the completion of the sale, the chief technology officer now owns 2,408,541 shares in the company, valued at approximately $271,033,118.73. This trade represents a 1.05 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Ashutosh Kulkarni sold 7,017 shares of the firm’s stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $108.12, for a total transaction of $758,678.04. Following the completion of the transaction, the chief executive officer now directly owns 395,326 shares in the company, valued at $42,742,647.12. This represents a 1.74 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 172,814 shares of company stock worth $18,596,060 over the last 90 days. 15.90% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the company. QRG Capital Management Inc. increased its holdings in Elastic by 7.0% in the 3rd quarter. QRG Capital Management Inc. now owns 3,063 shares of the company’s stock worth $235,000 after acquiring an additional 201 shares in the last quarter. Assetmark Inc. lifted its position in Elastic by 28,132.1% in the third quarter. Assetmark Inc. now owns 7,905 shares of the company’s stock valued at $607,000 after buying an additional 7,877 shares during the last quarter. Oppenheimer & Co. Inc. lifted its position in Elastic by 3.3% in the third quarter. Oppenheimer & Co. Inc. now owns 6,810 shares of the company’s stock valued at $523,000 after buying an additional 219 shares during the last quarter. ING Groep NV acquired a new position in Elastic in the third quarter valued at about $6,755,000. Finally, Fifth Third Wealth Advisors LLC acquired a new stake in shares of Elastic during the third quarter worth about $1,262,000. Hedge funds and other 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.