Elastic (NYSE:ESTC) Receives $126.50 Consensus Target Price from Analysts

Elastic (NYSE:ESTC) has been given a consensus rating of “Moderate Buy” by the twenty-five brokerages that are presently covering the company, Marketbeat reports. Six equities research analysts have rated the stock with a hold recommendation, eighteen have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $126.50.

A number of equities research analysts recently commented on ESTC shares. DA Davidson upped their price objective on Elastic from $75.00 to $115.00 and gave the company a “neutral” rating in a report on Friday, November 22nd. Baird R W upgraded shares of Elastic from a “hold” rating to a “strong-buy” rating in a report on Friday, November 22nd. The Goldman Sachs Group boosted their price target on shares of Elastic from $99.00 to $113.00 and gave the company a “neutral” rating in a report on Friday, November 22nd. Royal Bank of Canada raised their price objective on Elastic from $110.00 to $130.00 and gave the stock an “outperform” rating in a research note on Friday, November 22nd. Finally, Canaccord Genuity Group boosted their target price on Elastic from $110.00 to $130.00 and gave the company a “buy” rating in a research note on Friday, November 22nd.

Elastic Stock Down 2.0 %

Shares of NYSE ESTC opened at $101.52 on Friday. Elastic has a 1 year low of $69.00 and a 1 year high of $136.06. The firm’s 50-day moving average is $96.29 and its 200-day moving average is $97.09. The company has a current ratio of 1.99, a quick ratio of 1.99 and a debt-to-equity ratio of 0.70. The firm has a market capitalization of $10.52 billion, a PE ratio of 184.58 and a beta of 1.02.

Insider Buying and Selling at Elastic

In other Elastic news, CEO Ashutosh Kulkarni sold 7,017 shares of the company’s stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $108.12, for a total value of $758,678.04. Following the sale, the chief executive officer now owns 395,326 shares in the company, valued at $42,742,647.12. This represents a 1.74 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Carolyn Herzog sold 11,145 shares of the firm’s stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $111.34, for a total value of $1,240,884.30. Following the sale, the insider now directly owns 92,011 shares of the company’s stock, valued at $10,244,504.74. This represents a 10.80 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 168,162 shares of company stock worth $18,637,562 over the last ninety days. 15.90% of the stock is currently owned by corporate insiders.

Institutional Trading of Elastic

Several hedge funds have recently added to or reduced their stakes in the company. 1832 Asset Management L.P. bought a new position in Elastic during the 2nd quarter worth $248,335,000. FMR LLC increased its position in Elastic by 25.6% during the third quarter. FMR LLC now owns 5,475,297 shares of the company’s stock worth $420,284,000 after acquiring an additional 1,115,750 shares during the period. Atreides Management LP raised its stake in Elastic by 57.2% in the 3rd quarter. Atreides Management LP now owns 1,687,791 shares of the company’s stock worth $129,555,000 after purchasing an additional 614,309 shares in the last quarter. Federated Hermes Inc. grew its position in shares of Elastic by 32,630.2% during the 2nd quarter. Federated Hermes Inc. now owns 615,655 shares of the company’s stock worth $70,129,000 after purchasing an additional 613,774 shares in the last quarter. Finally, JAT Capital Mgmt LP increased its holdings in shares of Elastic by 601.4% during the third quarter. JAT Capital Mgmt LP now owns 465,549 shares of the company’s stock worth $35,736,000 after purchasing an additional 399,175 shares during the period. 97.03% of the stock is owned by institutional investors and hedge funds.

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.