Elastic (NYSE:ESTC) Upgraded at Cantor Fitzgerald

Cantor Fitzgerald upgraded shares of Elastic (NYSE:ESTC) to a hold rating in a research note published on Thursday, MarketBeat.com reports. The brokerage currently has $108.00 price target on the stock.

A number of other equities analysts have also weighed in on ESTC. Canaccord Genuity Group boosted their target price on Elastic from $110.00 to $130.00 and gave the stock a “buy” rating in a research report on Friday, November 22nd. Oppenheimer boosted their target price on shares of Elastic from $125.00 to $140.00 and gave the company an “outperform” rating in a research note on Friday, November 22nd. Guggenheim raised their price target on Elastic from $100.00 to $120.00 and gave the stock a “buy” rating in a research note on Friday, November 22nd. Stifel Nicolaus upped their price objective on Elastic from $98.00 to $132.00 and gave the company a “buy” rating in a research report on Friday, November 22nd. Finally, Jefferies Financial Group increased their target price on Elastic from $110.00 to $135.00 and gave the company a “buy” rating in a report on Friday, November 22nd. Seven analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $125.70.

Elastic Stock Performance

Shares of ESTC opened at $100.49 on Thursday. The company has a market cap of $10.41 billion, a price-to-earnings ratio of 182.70 and a beta of 1.06. The business’s fifty day simple moving average is $101.65 and its two-hundred day simple moving average is $95.74. Elastic has a 12 month low of $69.00 and a 12 month high of $136.06. The company has a current ratio of 1.99, a quick ratio of 1.99 and a debt-to-equity ratio of 0.70.

Insider Activity at Elastic

In other news, CTO Shay Banon sold 150,000 shares of the business’s stock in a transaction dated 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 sale, the chief technology officer now directly owns 2,604,978 shares in the company, valued at $288,944,159.76. The trade was a 5.44 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Carolyn Herzog sold 11,145 shares of the company’s stock in a transaction dated 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 sale, the insider now owns 92,011 shares in the company, valued at $10,244,504.74. This represents a 10.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 168,162 shares of company stock valued at $18,637,562. Insiders own 15.90% of the company’s stock.

Institutional Investors Weigh In On Elastic

Large investors have recently added to or reduced their stakes in the stock. Blueshift Asset Management LLC bought a new stake in shares of Elastic in the 3rd quarter valued at approximately $585,000. Charles Schwab Investment Management Inc. raised its holdings in Elastic by 2.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 545,870 shares of the company’s stock valued at $41,901,000 after buying an additional 14,590 shares during the period. Bangor Savings Bank bought a new stake in Elastic in the fourth quarter worth $1,657,000. Fifth Third Wealth Advisors LLC purchased a new position in Elastic during the third quarter worth $1,262,000. Finally, Vestcor Inc bought a new position in Elastic during the third quarter valued at $1,919,000. 97.03% of the stock is owned by institutional investors.

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.