Elastic (NYSE:ESTC) Upgraded at William Blair

Elastic (NYSE:ESTC) was upgraded by analysts at William Blair from a “market perform” rating to an “outperform” rating in a report released on Monday, Marketbeat Ratings reports.

Other analysts have also issued reports about the company. Baird R W lowered Elastic from a “strong-buy” rating to a “hold” rating in a research note on Friday, August 30th. Barclays raised shares of Elastic from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $90.00 to $95.00 in a research report on Monday, October 7th. DA Davidson dropped their price target on shares of Elastic from $100.00 to $75.00 and set a “neutral” rating for the company in a research report on Friday, August 30th. Oppenheimer cut their price target on shares of Elastic from $150.00 to $125.00 and set an “outperform” rating on the stock in a research note on Friday, August 30th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Elastic in a research note on Tuesday, October 8th. Eight investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $103.71.

Elastic Trading Down 1.2 %

Elastic stock opened at $82.15 on Monday. The stock has a 50-day moving average price of $86.59 and a 200 day moving average price of $100.05. Elastic has a 52 week low of $69.00 and a 52 week high of $136.06. The stock has a market cap of $8.36 billion, a PE ratio of 155.00 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.

Elastic (NYSE:ESTC) last issued its quarterly earnings results on Thursday, August 29th. The company reported $0.35 earnings per share for the quarter, beating the consensus estimate of $0.25 by $0.10. Elastic had a negative return on equity of 17.54% and a net margin of 4.62%. The company 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. Elastic’s revenue was up 18.3% on a year-over-year basis. Equities research analysts predict that Elastic will post -0.91 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Elastic news, CTO Shay Banon sold 2,666 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 value of $187,286.50. Following the completion of the transaction, the chief technology officer now directly owns 4,543,190 shares of the company’s stock, valued at $319,159,097.50. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other Elastic news, CTO Shay Banon sold 2,666 shares of Elastic stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $70.25, for a total transaction of $187,286.50. Following the sale, the chief technology officer now directly owns 4,543,190 shares in the company, valued at $319,159,097.50. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Paul R. Auvil III bought 20,000 shares of the business’s stock in a transaction on Tuesday, September 3rd. The stock was acquired at an average cost of $74.25 per share, for a total transaction of $1,485,000.00. Following the completion of the transaction, the director now owns 22,627 shares in the company, valued at $1,680,054.75. This represents a 700.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have sold 37,406 shares of company stock valued at $2,627,772 in the last quarter. Company insiders own 18.10% of the company’s stock.

Institutional Investors Weigh In On Elastic

A number of institutional investors have recently made changes to their positions in the company. Nordea Investment Management AB acquired a new position in Elastic in the first quarter worth $3,104,000. Toronto Dominion Bank acquired a new stake in Elastic during the first quarter worth about $5,780,000. Quantbot Technologies LP raised its stake in Elastic by 165.2% during the first quarter. Quantbot Technologies LP now owns 12,921 shares of the company’s stock worth $1,295,000 after acquiring an additional 8,048 shares during the period. Sumitomo Mitsui Trust Holdings Inc. lifted its holdings in Elastic by 737.7% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 17,617 shares of the company’s stock worth $1,766,000 after acquiring an additional 15,514 shares during the last quarter. Finally, Interval Partners LP acquired a new position in Elastic in the first quarter valued at approximately $1,704,000. 97.03% of the stock is currently owned by institutional investors.

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.