Elastic (NYSE:ESTC) Receives Average Recommendation of “Moderate Buy” from Analysts

Shares of Elastic (NYSE:ESTC) have been assigned an average rating of “Moderate Buy” from the twenty-one research firms that are currently covering the firm, MarketBeat Ratings reports. Seven equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating on the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $111.26.

ESTC has been the topic of several research analyst reports. Barclays reduced their price objective on Elastic from $130.00 to $128.00 and set an “equal weight” rating on the stock in a research note on Friday, March 1st. Scotiabank lowered their price target on Elastic from $185.00 to $154.00 and set a “sector outperform” rating on the stock in a report on Friday, March 1st. TheStreet upgraded shares of Elastic from a “d+” rating to a “c-” rating in a research report on Wednesday, February 7th. Stifel Nicolaus raised their price objective on shares of Elastic from $99.00 to $130.00 and gave the company a “buy” rating in a research note on Friday, March 1st. Finally, Rosenblatt Securities upped their target price on Elastic from $105.00 to $136.00 and gave the stock a “buy” rating in a research report on Friday, March 1st.

Elastic Stock Performance

Elastic stock opened at $107.43 on Friday. Elastic has a 12-month low of $54.06 and a 12-month high of $136.06. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.87 and a quick ratio of 1.87. The company has a market capitalization of $10.83 billion, a price-to-earnings ratio of 233.54 and a beta of 0.94. The firm’s fifty day moving average price is $106.47 and its 200 day moving average price is $102.60.

Elastic (NYSE:ESTC) last posted its quarterly earnings data on Thursday, February 29th. The company reported ($0.27) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.28) by $0.01. The company had revenue of $327.96 million for the quarter, compared to the consensus estimate of $320.48 million. Elastic had a negative return on equity of 23.94% and a net margin of 4.63%. On average, research analysts forecast that Elastic will post -1.13 EPS for the current fiscal year.

Insider Transactions at Elastic

In other Elastic news, CTO Shay Banon sold 1,322 shares of the company’s stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $106.23, for a total value of $140,436.06. Following the completion of the sale, the chief technology officer now owns 4,518,714 shares of the company’s stock, valued at $480,022,988.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CTO Shay Banon sold 1,322 shares of the firm’s stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $106.23, for a total transaction of $140,436.06. Following the sale, the chief technology officer now owns 4,518,714 shares of the company’s stock, valued at $480,022,988.22. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Ashutosh Kulkarni sold 15,778 shares of the stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $103.28, for a total value of $1,629,551.84. Following the sale, the chief executive officer now directly owns 364,235 shares of the company’s stock, valued at $37,618,190.80. The disclosure for this sale can be found here. In the last ninety days, insiders sold 962,440 shares of company stock worth $94,535,764. 18.10% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Elastic

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Rakuten Securities Inc. bought a new stake in Elastic during the fourth quarter worth about $25,000. GAMMA Investing LLC acquired a new stake in Elastic in the fourth quarter valued at $39,000. Cypress Capital Management LLC WY bought a new position in shares of Elastic in the 4th quarter valued at about $45,000. Covestor Ltd grew its position in shares of Elastic by 168.3% in the 3rd quarter. Covestor Ltd now owns 448 shares of the company’s stock valued at $36,000 after acquiring an additional 281 shares during the period. Finally, Allspring Global Investments Holdings LLC acquired a new position in shares of Elastic during the 1st quarter worth about $64,000. 97.03% of the stock is currently owned by institutional investors and hedge funds.

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.