Elastic’s (ESTC) Buy Rating Reaffirmed at Rosenblatt Securities

Rosenblatt Securities restated their buy rating on shares of Elastic (NYSE:ESTC) in a research report sent to investors on Tuesday, Benzinga reports. Rosenblatt Securities currently has a $136.00 price objective on the stock.

A number of other equities analysts have also weighed in on the company. JPMorgan Chase & Co. decreased their target price on Elastic from $138.00 to $125.00 and set an overweight rating on the stock in a research note on Friday, May 24th. Needham & Company LLC restated a hold rating on shares of Elastic in a research report on Friday, May 31st. Citigroup lifted their target price on shares of Elastic from $145.00 to $155.00 and gave the company a buy rating in a research report on Monday, June 3rd. Scotiabank cut their price target on shares of Elastic from $154.00 to $135.00 and set a sector outperform rating for the company in a research note on Friday, May 31st. Finally, Robert W. Baird lowered their price objective on shares of Elastic from $137.00 to $135.00 and set an outperform rating on the stock in a research report on Tuesday, May 28th. Five investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. Based on data from MarketBeat, Elastic has an average rating of Moderate Buy and a consensus price target of $120.84.

Elastic Trading Down 1.8 %

Shares of Elastic stock opened at $105.54 on Tuesday. The company’s 50-day moving average price is $110.60 and its 200-day moving average price is $108.90. The company has a current ratio of 1.76, a quick ratio of 1.76 and a debt-to-equity ratio of 0.77. Elastic has a 12-month low of $57.38 and a 12-month high of $136.06. The company has a market cap of $10.74 billion, a price-to-earnings ratio of 199.13 and a beta of 0.98.

Elastic (NYSE:ESTC) last announced its quarterly earnings results on Thursday, May 30th. The company reported ($0.39) EPS for the quarter, missing the consensus estimate of ($0.36) by ($0.03). The firm had revenue of $335.00 million during the quarter, compared to the consensus estimate of $329.15 million. Elastic had a net margin of 4.87% and a negative return on equity of 20.83%. On average, equities analysts expect that Elastic will post -1.12 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CTO Shay Banon sold 120,000 shares of the firm’s stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $109.48, for a total value of $13,137,600.00. Following the transaction, the chief technology officer now owns 2,754,978 shares in the company, valued at $301,614,991.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Elastic news, CRO Mark Eugene Dodds sold 3,457 shares of the company’s stock in a transaction that occurred on Friday, June 7th. The stock was sold at an average price of $110.78, for a total transaction of $382,966.46. Following the completion of the transaction, the executive now owns 82,498 shares of the company’s stock, valued at approximately $9,139,128.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO Shay Banon sold 120,000 shares of Elastic stock in a transaction that occurred on Monday, June 24th. The stock was sold at an average price of $109.48, for a total value of $13,137,600.00. Following the completion of the sale, the chief technology officer now owns 2,754,978 shares in the company, valued at $301,614,991.44. The disclosure for this sale can be found here. Insiders have sold a total of 355,312 shares of company stock worth $38,626,610 in the last ninety days. 18.10% of the stock is owned by insiders.

Institutional Trading of Elastic

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Asset Dedication LLC raised its holdings in Elastic by 1,333.3% in the 2nd quarter. Asset Dedication LLC now owns 301 shares of the company’s stock worth $34,000 after purchasing an additional 280 shares in the last quarter. GAMMA Investing LLC bought a new position in Elastic in the fourth quarter worth about $39,000. AlphaCentric Advisors LLC purchased a new stake in Elastic in the second quarter worth about $40,000. Quarry LP bought a new stake in Elastic during the 2nd quarter valued at approximately $40,000. Finally, Lynx Investment Advisory purchased a new position in shares of Elastic during the 2nd quarter worth approximately $43,000. 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.