Elastic (NYSE:ESTC) Given Consensus Rating of “Moderate Buy” by Analysts

Shares of Elastic (NYSE:ESTC) have received an average recommendation of “Moderate Buy” from the twenty-three brokerages that are presently covering the firm, Marketbeat reports. Eight research analysts have rated the stock with a hold rating and fifteen have issued a buy rating on the company. The average 1 year price target among analysts that have covered the stock in the last year is $103.71.

A number of research analysts have issued reports on ESTC shares. Stifel Nicolaus reduced their target price on shares of Elastic from $120.00 to $98.00 and set a “buy” rating for the company in a research note on Friday, August 30th. Oppenheimer cut their target price on Elastic from $150.00 to $125.00 and set an “outperform” rating for the company in a research report on Friday, August 30th. UBS Group dropped their price objective on Elastic from $135.00 to $95.00 and set a “buy” rating on the stock in a research note on Friday, August 30th. Citigroup raised their target price on Elastic from $155.00 to $160.00 and gave the company a “buy” rating in a research note on Wednesday, August 28th. Finally, TD Cowen lowered their target price on Elastic from $110.00 to $80.00 and set a “hold” rating on the stock in a report on Friday, August 30th.

Insider Activity at Elastic

In other Elastic news, CEO Ashutosh Kulkarni sold 19,649 shares of the business’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $70.25, for a total value of $1,380,342.25. Following the completion of the sale, the chief executive officer now owns 432,648 shares of the company’s stock, valued at $30,393,522. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Elastic news, CFO Janesh Moorjani sold 6,941 shares of the business’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $70.25, for a total transaction of $487,605.25. Following the completion of the transaction, the chief financial officer now owns 195,550 shares of the company’s stock, valued at $13,737,387.50. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Ashutosh Kulkarni sold 19,649 shares of the company’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $70.25, for a total transaction of $1,380,342.25. Following the sale, the chief executive officer now owns 432,648 shares of the company’s stock, valued at $30,393,522. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 37,406 shares of company stock valued at $2,627,772. 15.90% of the stock is currently owned by corporate insiders.

Institutional Trading of Elastic

Several hedge funds and other institutional investors have recently bought and sold shares of ESTC. Exchange Traded Concepts LLC increased its position in shares of Elastic by 51.8% during the third quarter. Exchange Traded Concepts LLC now owns 27,666 shares of the company’s stock valued at $2,124,000 after purchasing an additional 9,444 shares during the period. CWM LLC grew its stake in shares of Elastic by 2.7% in the 3rd quarter. CWM LLC now owns 26,635 shares of the company’s stock valued at $2,045,000 after purchasing an additional 706 shares during the period. Blue Zone Wealth Advisors LLC raised its holdings in shares of Elastic by 60.0% in the 3rd quarter. Blue Zone Wealth Advisors LLC now owns 45,661 shares of the company’s stock worth $3,505,000 after buying an additional 17,119 shares in the last quarter. Neumann Advisory Hong Kong Ltd bought a new position in shares of Elastic during the 3rd quarter worth approximately $12,078,000. Finally, Handelsbanken Fonder AB boosted its stake in Elastic by 13.3% in the 3rd quarter. Handelsbanken Fonder AB now owns 18,800 shares of the company’s stock valued at $1,443,000 after buying an additional 2,200 shares in the last quarter. 97.03% of the stock is currently owned by institutional investors and hedge funds.

Elastic Stock Up 1.2 %

NYSE:ESTC opened at $83.00 on Friday. The company has a market capitalization of $8.53 billion, a price-to-earnings ratio of 150.91 and a beta of 0.94. Elastic has a one year low of $69.00 and a one year high of $136.06. The stock has a 50-day simple moving average of $87.31 and a 200 day simple moving average of $100.29. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.91 and a current ratio of 1.91.

Elastic (NYSE:ESTC) last released its quarterly earnings data on Thursday, August 29th. The company reported $0.35 EPS for the quarter, topping analysts’ consensus estimates of $0.25 by $0.10. The firm had revenue of $347.42 million during the quarter, compared to the consensus estimate of $344.67 million. Elastic had a net margin of 4.62% and a negative return on equity of 17.54%. The firm’s revenue was up 18.3% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.35) earnings per share. Sell-side analysts predict that Elastic will post -0.91 EPS for the current fiscal year.

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.