Citigroup Raises Elastic (NYSE:ESTC) Price Target to $150.00

Elastic (NYSE:ESTC) had its price target upped by Citigroup from $136.00 to $150.00 in a report published on Monday,Benzinga reports. The firm currently has a buy rating on the stock.

Other analysts also recently issued research reports about the company. Truist Financial increased their target price on Elastic from $105.00 to $135.00 and gave the company a “buy” rating in a research note on Friday, November 22nd. Robert W. Baird raised shares of Elastic from a “neutral” rating to an “outperform” rating and boosted their target price for the stock from $95.00 to $135.00 in a research report on Friday, November 22nd. The Goldman Sachs Group increased their price target on shares of Elastic from $99.00 to $113.00 and gave the company a “neutral” rating in a report on Friday, November 22nd. Baird R W upgraded shares of Elastic from a “hold” rating to a “strong-buy” rating in a report on Friday, November 22nd. Finally, Jefferies Financial Group upped their price objective on shares of Elastic from $110.00 to $135.00 and gave the company a “buy” rating in a research report on Friday, November 22nd. Five analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Elastic currently has an average rating of “Moderate Buy” and an average target price of $126.33.

Elastic Trading Down 1.3 %

NYSE:ESTC opened at $110.13 on Monday. The company’s 50 day moving average is $83.22 and its 200-day moving average is $96.99. 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 has a 12 month low of $69.00 and a 12 month high of $136.06. The firm has a market cap of $11.32 billion, a price-to-earnings ratio of 204.47 and a beta of 0.94.

Elastic (NYSE:ESTC) last released its earnings results on Thursday, August 29th. The company reported $0.35 earnings per share 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 analyst estimates 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 was up 18.3% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.35) EPS. Equities analysts anticipate that Elastic will post -0.92 EPS for the current year.

Insider Activity

In other Elastic news, CFO Janesh Moorjani sold 6,941 shares of Elastic stock in a transaction on Monday, September 9th. The stock was sold at an average price of $70.25, for a total value of $487,605.25. Following the completion of the transaction, the chief financial officer now owns 195,550 shares in the company, valued at approximately $13,737,387.50. The trade was a 3.43 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Paul R. Auvil III bought 20,000 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The shares were acquired at an average price of $74.25 per share, for a total transaction of $1,485,000.00. Following the acquisition, the director now directly owns 22,627 shares of the company’s stock, valued at approximately $1,680,054.75. The trade was a 761.32 % increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders have sold 198,551 shares of company stock worth $20,506,656. Corporate insiders own 15.90% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in ESTC. Asset Dedication LLC increased its position in Elastic by 1,333.3% in the 2nd quarter. Asset Dedication LLC now owns 301 shares of the company’s stock valued at $34,000 after acquiring an additional 280 shares in the last quarter. AlphaCentric Advisors LLC acquired a new stake in shares of Elastic in the second quarter valued at approximately $40,000. Quarry LP acquired a new stake in shares of Elastic in the second quarter valued at approximately $40,000. Lynx Investment Advisory acquired a new position in Elastic during the 2nd quarter worth $43,000. Finally, Signaturefd LLC boosted its position in Elastic by 44.1% in 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. 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.