Elastic (NYSE:ESTC) Receives Consensus Rating of “Moderate Buy” from Brokerages

Elastic (NYSE:ESTC) has been given a consensus rating of “Moderate Buy” by the twenty-four brokerages that are currently covering the stock, MarketBeat Ratings reports. Five analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating on the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $126.33.

ESTC has been the subject of several analyst reports. Canaccord Genuity Group raised their target price on Elastic from $110.00 to $130.00 and gave the stock a “buy” rating in a research report on Friday, November 22nd. William Blair raised Elastic from a “market perform” rating to an “outperform” rating in a research report on Monday, October 14th. Baird R W raised Elastic from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 22nd. Robert W. Baird raised Elastic from a “neutral” rating to an “outperform” rating and raised their target price for the stock from $95.00 to $135.00 in a research report on Friday, November 22nd. Finally, Bank of America lifted their price objective on Elastic from $94.00 to $120.00 and gave the stock a “neutral” rating in a research report on Friday, November 22nd.

Insider Activity at Elastic

In other Elastic news, insider Carolyn Herzog sold 11,145 shares of Elastic stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $111.34, for a total transaction of $1,240,884.30. Following the completion of the transaction, the insider now owns 92,011 shares in the company, valued at approximately $10,244,504.74. The trade was a 10.80 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Paul R. Auvil III bought 20,000 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The stock was acquired at an average price of $74.25 per share, for a total transaction of $1,485,000.00. Following the purchase, the director now directly owns 22,627 shares in the company, valued at approximately $1,680,054.75. The trade was a 761.32 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold 198,551 shares of company stock valued at $20,506,656 in the last three months. Corporate insiders own 15.90% of the company’s stock.

Hedge Funds Weigh In On Elastic

Hedge funds and other institutional investors have recently modified their holdings of the business. Signaturefd LLC raised its holdings in shares of Elastic by 44.1% in the 2nd quarter. Signaturefd LLC now owns 389 shares of the company’s stock worth $44,000 after purchasing an additional 119 shares during the period. M&T Bank Corp increased its holdings in shares of Elastic by 3.1% in the third quarter. M&T Bank Corp now owns 4,652 shares of the company’s stock worth $357,000 after purchasing an additional 139 shares during the period. QRG Capital Management Inc. grew its position in Elastic by 7.0% in the third quarter. QRG Capital Management Inc. now owns 3,063 shares of the company’s stock worth $235,000 after acquiring an additional 201 shares in the last quarter. Oppenheimer & Co. Inc. grew its position in Elastic by 3.3% in the third quarter. Oppenheimer & Co. Inc. now owns 6,810 shares of the company’s stock worth $523,000 after acquiring an additional 219 shares in the last quarter. Finally, Headlands Technologies LLC grew its position in Elastic by 75.4% in the second quarter. Headlands Technologies LLC now owns 628 shares of the company’s stock worth $72,000 after acquiring an additional 270 shares in the last quarter. Hedge funds and other institutional investors own 97.03% of the company’s stock.

Elastic Trading Down 0.6 %

NYSE ESTC opened at $109.46 on Monday. The company has a quick ratio of 1.91, a current ratio of 1.99 and a debt-to-equity ratio of 0.70. Elastic has a twelve month low of $69.00 and a twelve month high of $136.06. The company has a market cap of $11.34 billion, a price-to-earnings ratio of 199.02 and a beta of 0.94. The business’s fifty day moving average is $85.26 and its 200 day moving average is $97.11.

Elastic (NYSE:ESTC) last released its quarterly earnings data 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. The company had revenue of $347.42 million for the quarter, compared to the consensus estimate of $344.67 million. Elastic had a negative return on equity of 13.20% and a net margin of 4.39%. Elastic’s revenue for the quarter was up 18.3% on a year-over-year basis. During the same quarter last year, the business posted ($0.35) EPS. As a group, sell-side analysts expect that Elastic will post -0.79 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.