Elastic (NYSE:ESTC) Price Target Raised to $113.00

Elastic (NYSE:ESTC) had its target price lifted by The Goldman Sachs Group from $99.00 to $113.00 in a report issued on Friday morning,Benzinga reports. The firm currently has a neutral rating on the stock.

ESTC has been the topic of several other research reports. Citigroup upped their price objective on shares of Elastic from $155.00 to $160.00 and gave the stock a “buy” rating in a report on Wednesday, August 28th. Robert W. Baird upgraded shares of Elastic from a “neutral” rating to an “outperform” rating and upped their price objective for the stock from $95.00 to $135.00 in a report on Friday. DA Davidson lowered their price objective on shares of Elastic from $100.00 to $75.00 and set a “neutral” rating on the stock in a report on Friday, August 30th. Scotiabank lowered their price objective on shares of Elastic from $135.00 to $92.00 and set a “sector outperform” rating on the stock in a report on Friday, August 30th. Finally, Guggenheim assumed coverage on shares of Elastic in a report on Wednesday, September 11th. They issued a “buy” rating and a $100.00 target price for the company. Five research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $126.33.

Elastic Trading Up 3.2 %

NYSE:ESTC opened at $111.45 on Friday. The firm has a market cap of $11.45 billion, a P/E ratio of 202.69 and a beta of 0.94. Elastic has a 52 week low of $69.00 and a 52 week high of $136.06. The firm’s fifty day moving average is $81.78 and its 200-day moving average is $96.91. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.91 and a current ratio of 1.91.

Elastic (NYSE:ESTC) last issued its earnings results on Thursday, August 29th. The company reported $0.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.25 by $0.10. The business 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%. Elastic’s revenue was up 18.3% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.35) earnings per share. Equities analysts expect that Elastic will post -0.92 earnings per share for the current year.

Insider Buying and Selling at Elastic

In other Elastic news, CTO Shay Banon sold 2,666 shares of Elastic stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $70.25, for a total transaction of $187,286.50. Following the transaction, the chief technology officer now directly owns 4,543,190 shares of the company’s stock, valued at approximately $319,159,097.50. This trade represents a 0.06 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Paul R. Auvil III purchased 20,000 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The shares were acquired at an average cost of $74.25 per share, for a total transaction of $1,485,000.00. Following the completion of the purchase, 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 position. The disclosure for this purchase can be found here. Insiders sold a total of 37,406 shares of company stock worth $2,627,772 over the last three months. 15.90% of the stock is owned by insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Toronto Dominion Bank purchased a new position in shares of Elastic during the first quarter worth approximately $5,780,000. Interval Partners LP purchased a new position in shares of Elastic in the first quarter worth $1,704,000. Russell Investments Group Ltd. increased its stake in shares of Elastic by 993.0% in the first quarter. Russell Investments Group Ltd. now owns 17,236 shares of the company’s stock worth $1,728,000 after buying an additional 15,659 shares during the period. Fifth Third Wealth Advisors LLC purchased a new position in shares of Elastic in the third quarter worth $1,262,000. Finally, WD Rutherford LLC purchased a new position in shares of Elastic in the second quarter worth $422,000. 97.03% of the stock is owned by hedge funds and other institutional investors.

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.