Elastic (NYSE:ESTC) Given New $145.00 Price Target at Truist Financial

Elastic (NYSE:ESTC) had its price objective boosted by Truist Financial from $135.00 to $145.00 in a research note issued to investors on Monday,Benzinga reports. Truist Financial currently has a buy rating on the stock.

ESTC has been the topic of several other research reports. Barclays upped their target price on Elastic from $105.00 to $138.00 and gave the company an “overweight” rating in a research report on Monday, November 25th. Oppenheimer boosted their price target on Elastic from $125.00 to $140.00 and gave the company an “outperform” rating in a research note on Friday, November 22nd. UBS Group boosted their price target on Elastic from $140.00 to $148.00 and gave the company a “buy” rating in a research note on Friday. Robert W. Baird boosted their price target on Elastic from $135.00 to $140.00 and gave the company an “outperform” rating in a research note on Friday. Finally, Bank of America boosted their price target on Elastic from $94.00 to $120.00 and gave the company a “neutral” rating in a research note on Friday, November 22nd. Seven research 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 stock. According to data from MarketBeat, Elastic currently has an average rating of “Moderate Buy” and a consensus price target of $131.52.

Elastic Trading Down 8.0 %

ESTC stock opened at $107.03 on Monday. The business has a fifty day moving average price of $106.11 and a 200 day moving average price of $95.45. Elastic has a fifty-two week low of $69.00 and a fifty-two week high of $123.96. The stock has a market capitalization of $11.09 billion, a price-to-earnings ratio of 194.60 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.

Elastic (NYSE:ESTC) last released its earnings results on Thursday, February 27th. The company reported ($0.01) EPS for the quarter, missing the consensus estimate of $0.47 by ($0.48). Elastic had a net margin of 4.39% and a negative return on equity of 13.20%. The firm had revenue of $382.08 million during 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, CEO Ashutosh Kulkarni sold 7,017 shares of the stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $108.12, for a total transaction of $758,678.04. Following the transaction, the chief executive officer now owns 395,326 shares of the company’s stock, valued at $42,742,647.12. This represents a 1.74 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 15.90% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Elastic

Several large investors have recently added to or reduced their stakes in ESTC. Geneos Wealth Management Inc. bought a new position in Elastic in the 4th quarter valued at about $25,000. SBI Securities Co. Ltd. bought a new position in Elastic in the 4th quarter valued at about $25,000. Fourth Dimension Wealth LLC bought a new position in Elastic in the 4th quarter valued at about $26,000. Venturi Wealth Management LLC lifted its position in Elastic by 793.3% in the 4th quarter. Venturi Wealth Management LLC now owns 268 shares of the company’s stock valued at $27,000 after acquiring an additional 238 shares in the last quarter. Finally, Smartleaf Asset Management LLC lifted its position in Elastic by 126.4% in the 4th quarter. Smartleaf Asset Management LLC now owns 283 shares of the company’s stock valued at $28,000 after acquiring an additional 158 shares in 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.