Elastic (NYSE:ESTC) Stock Rating Upgraded by Baird R W

Baird R W upgraded shares of Elastic (NYSE:ESTC) from a hold rating to a strong-buy rating in a research note published on Friday,Zacks.com reports.

A number of other analysts have also issued reports on ESTC. Canaccord Genuity Group boosted their price objective on Elastic from $110.00 to $130.00 and gave the company a “buy” rating in a research note on Friday. DA Davidson upped their price target on Elastic from $75.00 to $115.00 and gave the company a “neutral” rating in a research report on Friday. Barclays raised their price objective on shares of Elastic from $95.00 to $105.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. JPMorgan Chase & Co. upped their target price on shares of Elastic from $100.00 to $130.00 and gave the stock an “overweight” rating in a report on Friday. Finally, UBS Group lowered their target price on shares of Elastic from $135.00 to $95.00 and set a “buy” rating on the stock in a research note on Friday, August 30th. Five 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 MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $126.33.

Elastic Price Performance

Shares of NYSE:ESTC opened at $111.45 on Friday. The firm has a market capitalization of $11.45 billion, a PE ratio of 202.69 and a beta of 0.94. The company has a quick ratio of 1.91, a current ratio of 1.91 and a debt-to-equity ratio of 0.75. The company has a 50-day moving average price of $81.78 and a two-hundred day moving average price of $96.91. Elastic has a twelve month low of $69.00 and a twelve month high of $136.06.

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

Insider Activity at Elastic

In other news, Director Paul R. Auvil III bought 20,000 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The stock was bought at an average cost of $74.25 per share, for a total transaction of $1,485,000.00. Following the completion of the acquisition, the director now owns 22,627 shares in the company, valued at approximately $1,680,054.75. This trade represents a 761.32 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Janesh Moorjani sold 6,941 shares of the company’s stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $70.25, for a total value of $487,605.25. Following the transaction, the chief financial officer now owns 195,550 shares of the company’s stock, valued at approximately $13,737,387.50. This represents a 3.43 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 37,406 shares of company stock valued at $2,627,772. Insiders own 15.90% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Russell Investments Group Ltd. boosted its holdings in Elastic by 993.0% in the first quarter. Russell Investments Group Ltd. now owns 17,236 shares of the company’s stock worth $1,728,000 after acquiring an additional 15,659 shares in the last quarter. ProShare Advisors LLC increased its stake in Elastic by 24.6% during the 1st quarter. ProShare Advisors LLC now owns 2,232 shares of the company’s stock valued at $224,000 after purchasing an additional 441 shares in the last quarter. Advisors Asset Management Inc. raised its holdings in Elastic by 12.7% in the first quarter. Advisors Asset Management Inc. now owns 1,053 shares of the company’s stock worth $106,000 after buying an additional 119 shares during the last quarter. Toronto Dominion Bank bought a new position in shares of Elastic in the first quarter worth approximately $5,780,000. Finally, Lazard Asset Management LLC grew its holdings in shares of Elastic by 44.1% during the first quarter. Lazard Asset Management LLC now owns 3,851 shares of the company’s stock valued at $385,000 after buying an additional 1,179 shares during the last quarter. 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.