Elastic (NYSE:ESTC) Price Target Raised to $150.00 at Citigroup

Elastic (NYSE:ESTC) had its price objective boosted by Citigroup from $136.00 to $150.00 in a report released on Monday morning,Benzinga reports. They currently have a buy rating on the stock.

ESTC has been the topic of a number of other research reports. Bank of America increased their price objective on Elastic from $94.00 to $120.00 and gave the company a “neutral” rating in a research note on Friday. Barclays lifted their price target on shares of Elastic from $105.00 to $138.00 and gave the stock an “overweight” rating in a report on Monday. Rosenblatt Securities reissued a “buy” rating and set a $120.00 price objective on shares of Elastic in a research note on Wednesday, November 20th. JPMorgan Chase & Co. lifted their target price on shares of Elastic from $100.00 to $130.00 and gave the stock an “overweight” rating in a research note on Friday. Finally, The Goldman Sachs Group increased their price target on Elastic from $99.00 to $113.00 and gave the stock a “neutral” rating in a research note on Friday. Five research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Elastic presently has an average rating of “Moderate Buy” and a consensus price target of $126.33.

Elastic Stock Performance

Shares of ESTC opened at $111.45 on Monday. Elastic has a 12-month low of $69.00 and a 12-month high of $136.06. The stock has a market cap of $11.45 billion, a P/E ratio of 202.69 and a beta of 0.94. The company has a current ratio of 1.91, a quick ratio of 1.91 and a debt-to-equity ratio of 0.75. The company has a 50-day moving average of $81.78 and a two-hundred day moving average of $96.91.

Elastic (NYSE:ESTC) last issued its quarterly earnings data on Thursday, August 29th. The company reported $0.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.25 by $0.10. Elastic had a negative return on equity of 13.54% and a net margin of 4.39%. The firm had revenue of $347.42 million during the quarter, compared to the consensus estimate of $344.67 million. During the same period in the previous year, the firm posted ($0.35) EPS. The company’s quarterly revenue was up 18.3% compared to the same quarter last year. As a group, research analysts predict that Elastic will post -0.92 EPS for the current fiscal year.

Insider Transactions at Elastic

In other news, insider Carolyn Herzog sold 4,489 shares of Elastic stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $70.25, for a total transaction of $315,352.25. Following the sale, the insider now directly owns 102,959 shares of the company’s stock, valued at approximately $7,232,869.75. The trade was a 4.18 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Paul R. Auvil III purchased 20,000 shares of Elastic stock in a transaction that occurred on Tuesday, September 3rd. The stock was acquired at an average cost of $74.25 per share, with a total value of $1,485,000.00. Following the acquisition, the director now directly owns 22,627 shares of the company’s stock, valued at $1,680,054.75. The trade was a 761.32 % increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders have sold 37,406 shares of company stock valued at $2,627,772. Corporate insiders own 15.90% of the company’s stock.

Institutional Investors Weigh In On Elastic

Hedge funds and other institutional investors have recently bought and sold shares of the business. Interval Partners LP acquired a new stake in shares of Elastic during the first quarter worth approximately $1,704,000. Fifth Third Wealth Advisors LLC acquired a new position in Elastic during the 3rd quarter worth $1,262,000. WD Rutherford LLC bought a new stake in shares of Elastic in the 2nd quarter worth about $422,000. Assenagon Asset Management S.A. acquired a new stake in shares of Elastic in the 2nd quarter valued at about $102,169,000. Finally, Daventry Group LP lifted its position in shares of Elastic by 8.6% during the second quarter. Daventry Group LP now owns 316,975 shares of the company’s stock worth $36,107,000 after purchasing an additional 25,008 shares during the last quarter. 97.03% of the stock is currently owned by hedge funds and other 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.