Elastic (NYSE:ESTC) Receives Average Recommendation of “Moderate Buy” from Brokerages

Elastic (NYSE:ESTC) has received a consensus rating of “Moderate Buy” from the twenty-one research firms that are covering the firm, Marketbeat.com reports. Seven research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $111.26.

ESTC has been the topic of a number of recent analyst reports. Scotiabank lowered their price target on shares of Elastic from $185.00 to $154.00 and set a “sector outperform” rating on the stock in a report on Friday, March 1st. TheStreet raised shares of Elastic from a “d+” rating to a “c-” rating in a research report on Wednesday, February 7th. Rosenblatt Securities boosted their target price on shares of Elastic from $105.00 to $136.00 and gave the stock a “buy” rating in a research report on Friday, March 1st. Royal Bank of Canada boosted their target price on shares of Elastic from $134.00 to $147.00 and gave the stock an “overweight” rating in a research report on Monday, March 4th. Finally, Stifel Nicolaus boosted their target price on shares of Elastic from $99.00 to $130.00 and gave the stock a “buy” rating in a research report on Friday, March 1st.

Insider Activity at Elastic

In other Elastic news, CTO Shay Banon sold 1,322 shares of the company’s stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $106.23, for a total transaction of $140,436.06. Following the completion of the transaction, the chief technology officer now directly owns 4,518,714 shares in the company, valued at $480,022,988.22. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO Ashutosh Kulkarni sold 15,778 shares of the company’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $103.28, for a total transaction of $1,629,551.84. Following the completion of the sale, the chief executive officer now owns 364,235 shares of the company’s stock, valued at $37,618,190.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CTO Shay Banon sold 1,322 shares of the company’s stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $106.23, for a total transaction of $140,436.06. Following the sale, the chief technology officer now directly owns 4,518,714 shares of the company’s stock, valued at approximately $480,022,988.22. The disclosure for this sale can be found here. Insiders sold a total of 962,440 shares of company stock worth $94,535,764 in the last three months. Company insiders own 18.10% of the company’s stock.

Institutional Investors Weigh In On Elastic

Large investors have recently modified their holdings of the business. Vanguard Group Inc. grew its holdings in shares of Elastic by 4.6% during the third quarter. Vanguard Group Inc. now owns 8,573,534 shares of the company’s stock worth $696,514,000 after buying an additional 380,694 shares in the last quarter. International Assets Investment Management LLC purchased a new stake in shares of Elastic during the fourth quarter worth $25,660,000. UBS Group AG grew its holdings in shares of Elastic by 28.0% during the third quarter. UBS Group AG now owns 56,805 shares of the company’s stock worth $4,615,000 after buying an additional 12,430 shares in the last quarter. Northern Trust Corp grew its holdings in shares of Elastic by 3.8% during the third quarter. Northern Trust Corp now owns 372,712 shares of the company’s stock worth $30,279,000 after buying an additional 13,587 shares in the last quarter. Finally, M&T Bank Corp purchased a new stake in shares of Elastic during the third quarter worth $230,000. Hedge funds and other institutional investors own 97.03% of the company’s stock.

Elastic Price Performance

Elastic stock opened at $104.79 on Friday. The company has a market cap of $10.56 billion, a price-to-earnings ratio of 227.80 and a beta of 0.94. The firm’s fifty day moving average is $107.48 and its 200 day moving average is $102.40. The company has a quick ratio of 1.87, a current ratio of 1.87 and a debt-to-equity ratio of 0.80. Elastic has a 52-week low of $54.06 and a 52-week high of $136.06.

Elastic (NYSE:ESTC) last announced its earnings results on Thursday, February 29th. The company reported ($0.27) earnings per share for the quarter, beating the consensus estimate of ($0.28) by $0.01. Elastic had a net margin of 4.63% and a negative return on equity of 23.94%. The business had revenue of $327.96 million for the quarter, compared to the consensus estimate of $320.48 million. Sell-side analysts forecast that Elastic will post -1.13 EPS for the current fiscal year.

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.