Brokerages Set Elastic (NYSE:ESTC) PT at $130.74

Shares of Elastic (NYSE:ESTC) have received a consensus rating of “Moderate Buy” from the twenty-six research firms that are currently covering the stock, Marketbeat reports. Seven investment analysts have rated the stock with a hold recommendation, eighteen have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price target among brokers that have covered the stock in the last year is $130.09.

A number of research analysts have recently commented on ESTC shares. Truist Financial dropped their target price on shares of Elastic from $145.00 to $140.00 and set a “buy” rating for the company in a report on Monday, March 31st. Scotiabank dropped their price objective on shares of Elastic from $140.00 to $137.00 and set a “sector outperform” rating for the company in a research note on Thursday, March 27th. Morgan Stanley boosted their target price on shares of Elastic from $130.00 to $140.00 and gave the stock an “overweight” rating in a research note on Friday, February 28th. Wedbush downgraded shares of Elastic from a “strong-buy” rating to a “hold” rating in a report on Wednesday, December 18th. Finally, Wells Fargo & Company raised their price objective on Elastic from $135.00 to $150.00 and gave the company an “overweight” rating in a report on Friday, February 28th.

Insider Buying and Selling at Elastic

In other Elastic news, CEO Ashutosh Kulkarni sold 18,735 shares of the business’s stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $90.77, for a total value of $1,700,575.95. Following the transaction, the chief executive officer now directly owns 376,591 shares of the company’s stock, valued at approximately $34,183,165.07. The trade was a 4.74 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CTO Shay Banon sold 25,668 shares of the firm’s stock in a transaction that occurred on Sunday, March 2nd. The stock was sold at an average price of $112.53, for a total transaction of $2,888,420.04. Following the sale, the chief technology officer now directly owns 2,408,541 shares of the company’s stock, valued at approximately $271,033,118.73. This trade represents a 1.05 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 198,304 shares of company stock valued at $20,847,452. 15.90% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Elastic

Several institutional investors have recently made changes to their positions in the stock. Sylebra Capital LLC grew its stake in shares of Elastic by 62.6% in the 4th quarter. Sylebra Capital LLC now owns 4,561,462 shares of the company’s stock valued at $451,950,000 after buying an additional 1,756,842 shares during the period. Norges Bank acquired a new stake in Elastic in the fourth quarter valued at approximately $102,485,000. Arrowstreet Capital Limited Partnership increased its holdings in shares of Elastic by 5,972.4% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 744,358 shares of the company’s stock valued at $73,751,000 after acquiring an additional 732,100 shares in the last quarter. Marshall Wace LLP raised its position in shares of Elastic by 554.9% during the fourth quarter. Marshall Wace LLP now owns 641,041 shares of the company’s stock worth $63,514,000 after purchasing an additional 543,155 shares during the period. Finally, Fuller & Thaler Asset Management Inc. bought a new position in shares of Elastic in the 4th quarter worth $46,031,000. Institutional investors and hedge funds own 97.03% of the company’s stock.

Elastic Stock Down 2.2 %

Shares of ESTC opened at $73.03 on Friday. The firm has a 50 day simple moving average of $101.34 and a two-hundred day simple moving average of $96.47. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.99 and a quick ratio of 1.99. Elastic has a one year low of $69.00 and a one year high of $123.96. The company has a market cap of $7.62 billion, a P/E ratio of 132.77 and a beta of 1.19.

Elastic (NYSE:ESTC) last posted its quarterly earnings results on Thursday, February 27th. The company reported ($0.01) EPS for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.48). Elastic had a negative return on equity of 13.20% and a net margin of 4.39%. The business had revenue of $382.08 million for the quarter, compared to analyst estimates of $368.85 million. Research analysts forecast that Elastic will post -0.77 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.