Elastic (NYSE:ESTC) Price Target Raised to $132.00 at Stifel Nicolaus

Elastic (NYSE:ESTC) had its price objective raised by stock analysts at Stifel Nicolaus from $98.00 to $132.00 in a report issued on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Stifel Nicolaus’ price target would suggest a potential upside of 17.04% from the company’s current price.

Several other equities analysts have also recently issued reports on the company. Citigroup lifted their price target on Elastic from $155.00 to $160.00 and gave the company a “buy” rating in a research report on Wednesday, August 28th. DA Davidson dropped their price target on shares of Elastic from $100.00 to $75.00 and set a “neutral” rating on the stock in a research report on Friday, August 30th. 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. Needham & Company LLC reiterated a “hold” rating on shares of Elastic in a report on Friday. Finally, TD Cowen reduced their target price on shares of Elastic from $110.00 to $80.00 and set a “hold” rating for the company in a report on Friday, August 30th. Seven analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to MarketBeat.com, Elastic presently has a consensus rating of “Moderate Buy” and an average target price of $111.14.

Elastic Stock Performance

ESTC traded up $18.65 during trading hours on Friday, hitting $112.78. The company’s stock had a trading volume of 3,119,653 shares, compared to its average volume of 1,302,963. The company has a 50-day simple moving average of $80.71 and a 200 day simple moving average of $97.05. The company has a current ratio of 1.91, a quick ratio of 1.91 and a debt-to-equity ratio of 0.75. The firm has a market capitalization of $11.59 billion, a PE ratio of 204.49 and a beta of 0.94. Elastic has a fifty-two week low of $69.00 and a fifty-two week high of $136.06.

Elastic (NYSE:ESTC) last issued its quarterly earnings data on Thursday, August 29th. The company reported $0.35 earnings per share for the quarter, beating analysts’ consensus estimates of $0.25 by $0.10. The business had revenue of $347.42 million for the quarter, compared to analysts’ expectations of $344.67 million. Elastic had a net margin of 4.62% and a negative return on equity of 17.54%. The company’s revenue was up 18.3% on a year-over-year basis. During the same period in the previous year, the business earned ($0.35) earnings per share. As a group, sell-side analysts expect that Elastic will post -0.92 EPS for the current year.

Insider Buying and Selling at Elastic

In other news, Director Paul R. Auvil III acquired 20,000 shares of Elastic stock in a transaction dated Tuesday, September 3rd. The stock was bought at an average cost of $74.25 per share, with a total value of $1,485,000.00. Following the completion of the transaction, the director now directly owns 22,627 shares of the company’s stock, valued at approximately $1,680,054.75. This represents a 761.32 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Ashutosh Kulkarni sold 19,649 shares of the firm’s 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 $1,380,342.25. Following the transaction, the chief executive officer now directly owns 432,648 shares of the company’s stock, valued at $30,393,522. This represents a 4.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 37,406 shares of company stock worth $2,627,772. Insiders own 15.90% of the company’s stock.

Institutional Investors Weigh In On Elastic

Institutional investors and hedge funds have recently made changes to their positions in the stock. Advisors Asset Management Inc. boosted its position in shares of Elastic by 12.7% in the first quarter. Advisors Asset Management Inc. now owns 1,053 shares of the company’s stock valued at $106,000 after acquiring an additional 119 shares during the period. Signaturefd LLC lifted its position in shares of Elastic by 44.1% during the 2nd quarter. Signaturefd LLC now owns 389 shares of the company’s stock valued at $44,000 after acquiring an additional 119 shares during the period. M&T Bank Corp increased its position 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 stake in Elastic by 7.0% during the third quarter. QRG Capital Management Inc. now owns 3,063 shares of the company’s stock worth $235,000 after buying an additional 201 shares in the last quarter. Finally, Oppenheimer & Co. Inc. increased its holdings in Elastic by 3.3% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 6,810 shares of the company’s stock valued at $523,000 after buying an additional 219 shares during the period. 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.