Elastic (NYSE:ESTC) Stock Price Expected to Rise, DA Davidson Analyst Says

Elastic (NYSE:ESTC) had its price target upped by DA Davidson from $75.00 to $115.00 in a report released on Friday morning,Benzinga reports. The brokerage currently has a neutral rating on the stock.

ESTC has been the subject of a number of other research reports. Robert W. Baird upgraded Elastic from a “neutral” rating to an “outperform” rating and upped their price target for the stock from $95.00 to $135.00 in a report on Friday. The Goldman Sachs Group upped their price target on Elastic from $99.00 to $113.00 and gave the stock a “neutral” rating in a report on Friday. Royal Bank of Canada upped their price target on Elastic from $110.00 to $130.00 and gave the stock an “outperform” rating in a report on Friday. Wedbush upgraded Elastic to a “hold” rating in a report on Thursday, October 17th. Finally, Barclays increased their target price on Elastic from $95.00 to $105.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. Five analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $126.33.

Elastic Trading Up 3.2 %

NYSE ESTC opened at $111.45 on Friday. Elastic has a 12 month low of $69.00 and a 12 month high of $136.06. The company has a 50-day moving average of $81.78 and a 200-day moving average of $96.91. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.91 and a quick ratio of 1.91. The company has a market cap of $11.45 billion, a P/E ratio of 202.69 and a beta of 0.94.

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 analysts’ consensus estimates of $0.25 by $0.10. The firm had revenue of $347.42 million during the quarter, compared to the consensus estimate of $344.67 million. Elastic had a net margin of 4.39% and a negative return on equity of 13.54%. The company’s revenue was up 18.3% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.35) EPS. As a group, equities analysts predict that Elastic will post -0.92 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Paul R. Auvil III purchased 20,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was acquired at an average price of $74.25 per share, for a total transaction of $1,485,000.00. Following the transaction, the director now directly owns 22,627 shares of the company’s stock, valued at $1,680,054.75. This trade represents a 761.32 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CTO Shay Banon sold 2,666 shares of the stock in a transaction on Monday, September 9th. The shares were 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 of the company’s stock, valued at $319,159,097.50. This trade represents a 0.06 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 37,406 shares of company stock valued at $2,627,772 over the last three months. Company insiders own 15.90% of the company’s stock.

Institutional Investors Weigh In On Elastic

Institutional investors have recently bought and sold shares of the business. Asset Dedication LLC boosted its position in Elastic by 1,333.3% during the 2nd quarter. Asset Dedication LLC now owns 301 shares of the company’s stock worth $34,000 after acquiring an additional 280 shares during the period. AlphaCentric Advisors LLC acquired a new stake in shares of Elastic during the 2nd quarter valued at about $40,000. Quarry LP acquired a new stake in shares of Elastic during the 2nd quarter valued at about $40,000. Lynx Investment Advisory acquired a new stake in shares of Elastic during the 2nd quarter valued at about $43,000. Finally, Signaturefd LLC lifted its holdings 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 buying an additional 119 shares during the last quarter. 97.03% of the stock is currently owned by institutional investors and hedge funds.

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.