Brokerages Set Elastic (NYSE:ESTC) PT at $125.35

Shares of Elastic (NYSE:ESTC) have received a consensus recommendation of “Moderate Buy” from the twenty-six ratings firms that are presently covering the stock, MarketBeat Ratings reports. Seven research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating on the company. The average 12-month price objective among analysts that have covered the stock in the last year is $125.35.

Several equities analysts have commented on ESTC shares. DA Davidson upped their price target on Elastic from $75.00 to $115.00 and gave the company a “neutral” rating in a report on Friday, November 22nd. Stifel Nicolaus upped their price target on Elastic from $98.00 to $132.00 and gave the company a “buy” rating in a report on Friday, November 22nd. Oppenheimer increased their target price on Elastic from $125.00 to $140.00 and gave the stock an “outperform” rating in a report on Friday, November 22nd. Piper Sandler increased their target price on Elastic from $100.00 to $130.00 and gave the stock an “overweight” rating in a report on Friday, November 22nd. Finally, Robert W. Baird raised Elastic from a “neutral” rating to an “outperform” rating and increased their target price for the stock from $95.00 to $135.00 in a report on Friday, November 22nd.

Elastic Trading Down 2.8 %

Elastic stock opened at $111.69 on Friday. The business has a 50 day moving average price of $105.90 and a two-hundred day moving average price of $95.36. The company has a quick ratio of 1.99, a current ratio of 1.99 and a debt-to-equity ratio of 0.70. The stock has a market cap of $11.57 billion, a price-to-earnings ratio of 203.07 and a beta of 1.07. Elastic has a 12 month low of $69.00 and a 12 month high of $136.06.

Insider Buying and Selling at Elastic

In other Elastic news, insider Carolyn Herzog sold 11,145 shares of the stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $111.34, for a total value of $1,240,884.30. Following the transaction, the insider now directly owns 92,011 shares in the company, valued at approximately $10,244,504.74. This trade represents a 10.80 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Ashutosh Kulkarni sold 7,017 shares of the firm’s stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $108.12, for a total value of $758,678.04. Following the completion of the transaction, the chief executive officer now owns 395,326 shares in the company, valued at $42,742,647.12. This represents a 1.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 168,162 shares of company stock worth $18,637,562. Insiders own 15.90% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Public Employees Retirement System of Ohio boosted its position in shares of Elastic by 1.2% in the 4th quarter. Public Employees Retirement System of Ohio now owns 29,907 shares of the company’s stock worth $2,963,000 after purchasing an additional 359 shares during the last quarter. Fourth Dimension Wealth LLC bought a new position in shares of Elastic in the 4th quarter worth $26,000. Sylebra Capital LLC boosted its position 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 worth $451,950,000 after purchasing an additional 1,756,842 shares during the last quarter. Castleark Management LLC bought a new position in shares of Elastic in the 4th quarter worth $362,000. Finally, PharVision Advisers LLC acquired a new stake in Elastic during the 4th quarter worth $315,000. 97.03% of the stock is currently owned by 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.