Elastic (NYSE:ESTC) Upgraded at Robert W. Baird

Robert W. Baird upgraded shares of Elastic (NYSE:ESTC) from a neutral rating to an outperform rating in a research note released on Friday, MarketBeat Ratings reports. Robert W. Baird currently has $135.00 price target on the stock, up from their previous price target of $95.00.

Several other research firms have also recently commented on ESTC. Scotiabank cut their price target on Elastic from $135.00 to $92.00 and set a “sector outperform” rating for the company in a report on Friday, August 30th. Canaccord Genuity Group dropped their target price on Elastic from $125.00 to $110.00 and set a “buy” rating for the company in a research note on Tuesday, September 3rd. Rosenblatt Securities reissued a “buy” rating and issued a $120.00 price target on shares of Elastic in a research note on Wednesday, November 20th. TD Cowen dropped their price objective on shares of Elastic from $110.00 to $80.00 and set a “hold” rating for the company in a research note on Friday, August 30th. Finally, Wells Fargo & Company cut their price objective on shares of Elastic from $145.00 to $100.00 and set an “overweight” rating on the stock in a report on Friday, August 30th. Six equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Elastic has a consensus rating of “Moderate Buy” and a consensus target price of $122.00.

Elastic Stock Up 14.8 %

Shares of NYSE:ESTC opened at $108.03 on Friday. The company has a quick ratio of 1.91, a current ratio of 1.91 and a debt-to-equity ratio of 0.75. The company has a market capitalization of $11.10 billion, a P/E ratio of 196.42 and a beta of 0.94. Elastic has a 52-week low of $69.00 and a 52-week high of $136.06. The stock’s fifty day simple moving average is $81.78 and its 200-day simple moving average is $96.91.

Elastic (NYSE:ESTC) last released its earnings results on Thursday, August 29th. The company reported $0.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.25 by $0.10. The company had revenue of $347.42 million for the quarter, compared to analyst estimates of $344.67 million. Elastic had a net margin of 4.39% and a negative return on equity of 13.54%. The firm’s quarterly revenue was up 18.3% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.35) EPS. As a group, equities research analysts forecast that Elastic will post -0.92 earnings per share for the current fiscal year.

Insider Transactions at Elastic

In other Elastic news, Director Paul R. Auvil III bought 20,000 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were acquired 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 owns 22,627 shares in the company, valued at $1,680,054.75. The trade was a 761.32 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CTO Shay Banon sold 2,666 shares of the business’s stock in a transaction dated Monday, September 9th. The stock was 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 owns 4,543,190 shares in the company, valued at approximately $319,159,097.50. This trade represents a 0.06 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 37,406 shares of company stock valued at $2,627,772 over the last quarter. Company insiders own 15.90% of the company’s stock.

Institutional Trading of Elastic

A number of institutional investors and hedge funds have recently modified their holdings of the business. Asset Dedication LLC grew its position in shares of Elastic by 1,333.3% during the 2nd quarter. Asset Dedication LLC now owns 301 shares of the company’s stock valued at $34,000 after buying an additional 280 shares during the last quarter. AlphaCentric Advisors LLC bought a new position in Elastic in the second quarter worth about $40,000. Quarry LP acquired a new position in Elastic in the second quarter valued at approximately $40,000. Lynx Investment Advisory bought a new position in shares of Elastic during the second quarter valued at approximately $43,000. Finally, Signaturefd LLC grew its holdings in shares of Elastic by 44.1% during the second quarter. Signaturefd LLC now owns 389 shares of the company’s stock valued at $44,000 after purchasing an additional 119 shares during the last quarter. 97.03% of the stock is 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.