Barclays Raises Elastic (NYSE:ESTC) Price Target to $138.00

Elastic (NYSE:ESTC) had its target price lifted by Barclays from $105.00 to $138.00 in a report released on Monday,Benzinga reports. Barclays currently has an overweight rating on the stock.

Several other brokerages have also weighed in on ESTC. UBS Group lowered their price objective on Elastic from $135.00 to $95.00 and set a “buy” rating for the company in a research report on Friday, August 30th. DA Davidson increased their price target on Elastic from $75.00 to $115.00 and gave the stock a “neutral” rating in a report on Friday. Guggenheim boosted their price objective on shares of Elastic from $100.00 to $120.00 and gave the company a “buy” rating in a report on Friday. Oppenheimer increased their target price on shares of Elastic from $125.00 to $140.00 and gave the stock an “outperform” rating in a research note on Friday. Finally, JPMorgan Chase & Co. boosted their price target on shares of Elastic from $100.00 to $130.00 and gave the company an “overweight” rating 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 assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $126.33.

Elastic Stock Up 3.2 %

Shares of NYSE:ESTC opened at $111.45 on Monday. Elastic has a 52-week low of $69.00 and a 52-week high of $136.06. 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 business has a fifty day moving average of $81.78 and a two-hundred day moving average of $96.91. The stock 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 released its quarterly earnings data 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. Elastic had a net margin of 4.39% and a negative return on equity of 13.54%. The firm had revenue of $347.42 million during the quarter, compared to analysts’ expectations of $344.67 million. During the same period last year, the business earned ($0.35) earnings per share. Elastic’s revenue was up 18.3% compared to the same quarter last year. On average, research 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 the business’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 $187,286.50. Following the completion of the transaction, the chief technology officer now owns 4,543,190 shares in the company, valued at $319,159,097.50. The trade was a 0.06 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Janesh Moorjani sold 6,941 shares of the firm’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $70.25, for a total transaction of $487,605.25. Following the completion of the sale, the chief financial officer now owns 195,550 shares in the company, valued at $13,737,387.50. The trade was a 3.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 37,406 shares of company stock valued at $2,627,772 in the last quarter. Corporate insiders own 15.90% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. ProShare Advisors LLC lifted its stake in Elastic by 24.6% during the first quarter. ProShare Advisors LLC now owns 2,232 shares of the company’s stock worth $224,000 after purchasing an additional 441 shares during the last quarter. Advisors Asset Management Inc. boosted its holdings in shares of Elastic by 12.7% in the 1st quarter. Advisors Asset Management Inc. now owns 1,053 shares of the company’s stock valued at $106,000 after buying an additional 119 shares in the last quarter. Lazard Asset Management LLC raised its stake in Elastic by 44.1% during the 1st quarter. Lazard Asset Management LLC now owns 3,851 shares of the company’s stock worth $385,000 after acquiring an additional 1,179 shares in the last quarter. Interval Partners LP purchased a new stake in Elastic in the first quarter valued at $1,704,000. Finally, Tidal Investments LLC boosted its stake in Elastic by 612.2% in the first quarter. Tidal Investments LLC now owns 23,267 shares of the company’s stock valued at $2,332,000 after acquiring an additional 20,000 shares in 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.