Elastic (NYSE:ESTC) Price Target Raised to $135.00 at Jefferies Financial Group

Elastic (NYSE:ESTC) had its price target upped by Jefferies Financial Group from $110.00 to $135.00 in a research report report published on Friday morning,Benzinga reports. They currently have a buy rating on the stock.

A number of other research firms have also recently issued reports on ESTC. William Blair upgraded Elastic from a “market perform” rating to an “outperform” rating in a report on Monday, October 14th. Oppenheimer upped their target price on Elastic from $125.00 to $140.00 and gave the stock an “outperform” rating in a research note on Friday. Wedbush upgraded shares of Elastic to a “hold” rating in a research report on Thursday, October 17th. Piper Sandler boosted their price objective on shares of Elastic from $100.00 to $130.00 and gave the stock an “overweight” rating in a report on Friday. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Elastic in a research note on Friday. 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. According to data from MarketBeat, Elastic presently has a consensus rating of “Moderate Buy” and a consensus price target of $126.33.

Elastic Stock Up 3.2 %

ESTC opened at $111.45 on Friday. Elastic has a twelve month low of $69.00 and a twelve month high of $136.06. The company’s 50-day moving average price is $81.78 and its two-hundred day moving average price is $96.91. The stock has a market cap of $11.45 billion, a price-to-earnings ratio of 202.69 and a beta of 0.94. The company has a quick ratio of 1.91, a current ratio of 1.91 and a debt-to-equity ratio of 0.75.

Elastic (NYSE:ESTC) last posted 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 analysts’ expectations of $344.67 million. Elastic had a net margin of 4.39% and a negative return on equity of 13.54%. The business’s revenue for the quarter was up 18.3% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.35) EPS. As a group, equities analysts expect that Elastic will post -0.92 earnings per share for the current year.

Insider Activity

In other news, 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 transaction of $187,286.50. Following the sale, the chief technology officer now owns 4,543,190 shares in the company, valued at approximately $319,159,097.50. The trade was a 0.06 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Carolyn Herzog sold 4,489 shares of the company’s 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 $315,352.25. Following the transaction, the insider now owns 102,959 shares in the company, valued at $7,232,869.75. The trade was a 4.18 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 37,406 shares of company stock worth $2,627,772. Corporate insiders own 15.90% of the company’s stock.

Hedge Funds Weigh In On Elastic

Several hedge funds and other institutional investors have recently bought and sold shares of ESTC. Russell Investments Group Ltd. grew its position in Elastic by 993.0% during the 1st quarter. Russell Investments Group Ltd. now owns 17,236 shares of the company’s stock worth $1,728,000 after purchasing an additional 15,659 shares during the period. ProShare Advisors LLC boosted its position in Elastic by 24.6% in the 1st quarter. ProShare Advisors LLC now owns 2,232 shares of the company’s stock worth $224,000 after purchasing an additional 441 shares in the last quarter. Advisors Asset Management Inc. grew its stake in shares of Elastic by 12.7% during the 1st quarter. Advisors Asset Management Inc. now owns 1,053 shares of the company’s stock worth $106,000 after purchasing an additional 119 shares during the period. Toronto Dominion Bank purchased a new position in shares of Elastic during the 1st quarter valued at approximately $5,780,000. Finally, Lazard Asset Management LLC increased its holdings in shares of Elastic by 44.1% during the 1st quarter. Lazard Asset Management LLC now owns 3,851 shares of the company’s stock valued at $385,000 after purchasing an additional 1,179 shares in the last quarter. Institutional investors and hedge funds 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.