Elastic (NYSE:ESTC) Price Target Lowered to $125.00 at Jefferies Financial Group

Elastic (NYSE:ESTC) had its price target reduced by Jefferies Financial Group from $135.00 to $125.00 in a research report released on Monday,Benzinga reports. They currently have a buy rating on the stock.

ESTC has been the topic of a number of other reports. Canaccord Genuity Group raised their price objective on shares of Elastic from $130.00 to $135.00 and gave the company a “buy” rating in a research note on Friday, February 28th. Piper Sandler lifted their price target on Elastic from $130.00 to $135.00 and gave the company an “overweight” rating in a research note on Friday, February 28th. Guggenheim increased their price objective on Elastic from $130.00 to $136.00 and gave the stock a “buy” rating in a research note on Friday, February 28th. Wells Fargo & Company lifted their target price on Elastic from $135.00 to $150.00 and gave the company an “overweight” rating in a research report on Friday, February 28th. Finally, Rosenblatt Securities reissued a “buy” rating and issued a $130.00 price target on shares of Elastic in a research report on Tuesday, February 25th. Seven investment 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. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $130.74.

Elastic Trading Down 2.8 %

NYSE:ESTC opened at $89.12 on Monday. Elastic has a 12 month low of $69.00 and a 12 month high of $123.96. The company has a current ratio of 1.99, a quick ratio of 1.99 and a debt-to-equity ratio of 0.70. The stock has a market capitalization of $9.31 billion, a price-to-earnings ratio of 162.04 and a beta of 1.20. The firm has a fifty day simple moving average of $105.03 and a two-hundred day simple moving average of $96.39.

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 analysts’ consensus estimates of $0.47 by ($0.48). Elastic had a negative return on equity of 13.20% and a net margin of 4.39%. The firm had revenue of $382.08 million for the quarter, compared to analyst estimates of $368.85 million. Analysts expect that Elastic will post -0.77 EPS for the current fiscal year.

Insider Activity at Elastic

In other news, CTO Shay Banon sold 140,129 shares of the firm’s stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $106.68, for a total value of $14,948,961.72. Following the completion of the transaction, the chief technology officer now owns 2,254,978 shares in the company, valued at $240,561,053.04. This trade represents a 5.85 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Ashutosh Kulkarni sold 18,735 shares of the business’s stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $90.77, for a total transaction of $1,700,575.95. Following the sale, the chief executive officer now directly owns 376,591 shares in the company, valued at $34,183,165.07. The trade was a 4.74 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 198,304 shares of company stock worth $20,847,452 over the last quarter. Corporate insiders own 15.90% of the company’s stock.

Institutional Investors Weigh In On Elastic

Large investors have recently bought and sold shares of the business. Geneos Wealth Management Inc. purchased a new position in shares of Elastic during the fourth quarter valued at approximately $25,000. SBI Securities Co. Ltd. purchased a new stake in Elastic during the 4th quarter valued at $25,000. Fourth Dimension Wealth LLC purchased a new position in shares of Elastic in the 4th quarter worth $26,000. Venturi Wealth Management LLC grew its holdings in shares of 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 acquiring an additional 238 shares during the period. Finally, Smartleaf Asset Management LLC increased its position in Elastic by 126.4% during the fourth quarter. Smartleaf Asset Management LLC now owns 283 shares of the company’s stock valued at $28,000 after acquiring an additional 158 shares during the last quarter. 97.03% of the stock is currently 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.