Jefferies Financial Group Cuts Elastic (NYSE:ESTC) Price Target to $125.00

Elastic (NYSE:ESTC) had its target price reduced by Jefferies Financial Group from $135.00 to $125.00 in a research report report published on Monday morning,Benzinga reports. They currently have a buy rating on the stock.

A number of other equities research analysts have also weighed in on ESTC. UBS Group boosted their price objective on Elastic from $140.00 to $148.00 and gave the stock a “buy” rating in a research report on Friday, February 28th. Rosenblatt Securities reissued a “buy” rating and set a $130.00 price target on shares of Elastic in a research note on Tuesday, February 25th. Piper Sandler upped their price objective on Elastic from $130.00 to $135.00 and gave the company an “overweight” rating in a research note on Friday, February 28th. Cantor Fitzgerald began coverage on shares of Elastic in a research report on Friday, January 17th. They set a “neutral” rating and a $108.00 target price on the stock. Finally, Truist Financial reduced their target price on shares of Elastic from $145.00 to $140.00 and set a “buy” rating on the stock in a report on Monday. Seven investment 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 company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $130.74.

Elastic Stock Up 0.2 %

ESTC stock opened at $91.48 on Monday. The stock has a market capitalization of $9.55 billion, a P/E ratio of 166.33 and a beta of 1.20. The company has a current ratio of 1.99, a quick ratio of 1.99 and a debt-to-equity ratio of 0.70. The firm has a 50-day moving average price of $104.65 and a 200-day moving average price of $96.47. Elastic has a 12 month low of $69.00 and a 12 month high of $123.96.

Elastic (NYSE:ESTC) last issued its quarterly earnings data on Thursday, February 27th. The company reported ($0.01) EPS for the quarter, missing the consensus estimate of $0.47 by ($0.48). The company had revenue of $382.08 million during the quarter, compared to the consensus estimate of $368.85 million. Elastic had a net margin of 4.39% and a negative return on equity of 13.20%. As a group, equities research analysts anticipate that Elastic will post -0.77 EPS for the current fiscal year.

Insider Activity

In related news, CTO Shay Banon sold 140,129 shares of the business’s stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $106.68, for a total value of $14,948,961.72. Following the completion of the sale, the chief technology officer now directly owns 2,254,978 shares of the company’s stock, valued at $240,561,053.04. The trade was a 5.85 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CRO Mark Eugene Dodds sold 2,755 shares of the company’s stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $90.77, for a total value of $250,071.35. Following the transaction, the executive now directly owns 96,484 shares in the company, valued at approximately $8,757,852.68. This trade represents a 2.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 198,304 shares of company stock worth $20,847,452 in the last quarter. 15.90% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Elastic

A number of large investors have recently modified their holdings of the company. M&T Bank Corp increased its holdings in Elastic by 3.1% during the 3rd quarter. M&T Bank Corp now owns 4,652 shares of the company’s stock worth $357,000 after purchasing an additional 139 shares in the last quarter. Sigma Planning Corp boosted its position in shares of Elastic by 3.7% during the fourth quarter. Sigma Planning Corp now owns 3,929 shares of the company’s stock valued at $389,000 after buying an additional 139 shares during the last quarter. CIBC Asset Management Inc grew its holdings in Elastic by 5.2% during the fourth quarter. CIBC Asset Management Inc now owns 3,053 shares of the company’s stock worth $302,000 after buying an additional 151 shares in the last quarter. Smartleaf Asset Management LLC raised its position in Elastic by 126.4% in the 4th quarter. Smartleaf Asset Management LLC now owns 283 shares of the company’s stock valued at $28,000 after buying an additional 158 shares during the last quarter. Finally, Resolute Advisors LLC lifted its stake in Elastic by 7.1% during the 4th quarter. Resolute Advisors LLC now owns 3,255 shares of the company’s stock valued at $323,000 after acquiring an additional 217 shares in the last quarter. 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.