Elastic (NYSE:ESTC) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Elastic (NYSE:ESTCGet Free Report) has earned an average rating of “Moderate Buy” from the twenty analysts that are presently covering the firm, MarketBeat.com reports. Seven analysts have rated the stock with a hold recommendation and thirteen have assigned a buy recommendation to the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $94.61.

Several research analysts recently issued reports on the company. Wedbush reissued a “neutral” rating and issued a $67.00 price objective on shares of Elastic in a research note on Friday, December 1st. Jefferies Financial Group raised Elastic from a “hold” rating to a “buy” rating and increased their price objective for the stock from $75.00 to $100.00 in a research note on Wednesday, October 18th. TheStreet raised Elastic from a “d+” rating to a “c-” rating in a research note on Wednesday, February 7th. The Goldman Sachs Group increased their price objective on Elastic from $83.00 to $93.00 and gave the stock a “neutral” rating in a research note on Monday, December 4th. Finally, Rosenblatt Securities increased their price objective on Elastic from $80.00 to $105.00 and gave the stock a “buy” rating in a research note on Friday, December 1st.

Read Our Latest Research Report on ESTC

Elastic Trading Down 2.1 %

ESTC opened at $127.64 on Tuesday. The stock has a market cap of $12.71 billion, a price-to-earnings ratio of -64.14 and a beta of 0.95. The stock’s 50 day moving average price is $115.80 and its 200-day moving average price is $88.66. Elastic has a one year low of $50.21 and a one year high of $131.71. The company has a debt-to-equity ratio of 1.25, a quick ratio of 1.89 and a current ratio of 1.89.

Elastic (NYSE:ESTCGet Free Report) last released its earnings results on Thursday, November 30th. The company reported $0.37 EPS for the quarter, beating analysts’ consensus estimates of $0.24 by $0.13. The firm had revenue of $311.00 million for the quarter, compared to analysts’ expectations of $304.44 million. Elastic had a negative return on equity of 30.65% and a negative net margin of 16.62%. The company’s quarterly revenue was up 17.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.50) earnings per share. On average, equities analysts forecast that Elastic will post -1.17 EPS for the current year.

Insider Activity

In other news, Director Shelley B. Leibowitz sold 1,000 shares of the stock in a transaction on Tuesday, December 12th. The stock was sold at an average price of $115.53, for a total transaction of $115,530.00. Following the completion of the sale, the director now owns 5,577 shares in the company, valued at approximately $644,310.81. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, Director Shelley B. Leibowitz sold 1,000 shares of the company’s stock in a transaction on Tuesday, December 12th. The stock was sold at an average price of $115.53, for a total value of $115,530.00. Following the transaction, the director now directly owns 5,577 shares of the company’s stock, valued at approximately $644,310.81. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CTO Shay Banon sold 89,995 shares of the company’s stock in a transaction on Monday, December 11th. The shares were sold at an average price of $116.10, for a total value of $10,448,419.50. Following the completion of the transaction, the chief technology officer now directly owns 4,520,036 shares in the company, valued at $524,776,179.60. The disclosure for this sale can be found here. In the last quarter, insiders sold 128,867 shares of company stock worth $14,928,615. Insiders own 18.10% of the company’s stock.

Hedge Funds Weigh In On Elastic

Several hedge funds have recently made changes to their positions in the company. US Bancorp DE increased its position in shares of Elastic by 3.3% in the 4th quarter. US Bancorp DE now owns 2,501 shares of the company’s stock valued at $282,000 after acquiring an additional 81 shares during the period. PNC Financial Services Group Inc. grew its position in Elastic by 6.6% during the 3rd quarter. PNC Financial Services Group Inc. now owns 2,284 shares of the company’s stock worth $186,000 after purchasing an additional 142 shares during the period. Advisors Asset Management Inc. grew its position in Elastic by 19.6% during the 3rd quarter. Advisors Asset Management Inc. now owns 928 shares of the company’s stock worth $75,000 after purchasing an additional 152 shares during the period. Treasurer of the State of North Carolina grew its position in Elastic by 0.5% during the 3rd quarter. Treasurer of the State of North Carolina now owns 34,154 shares of the company’s stock worth $2,775,000 after purchasing an additional 170 shares during the period. Finally, Utah Retirement Systems grew its position in Elastic by 1.4% during the 4th quarter. Utah Retirement Systems now owns 14,000 shares of the company’s stock worth $721,000 after purchasing an additional 200 shares during the period. 74.66% of the stock is owned by institutional investors and hedge funds.

About Elastic

(Get Free Report

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.

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Analyst Recommendations for Elastic (NYSE:ESTC)

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