Elastic (NYSE:ESTC) Now Covered by UBS Group

Investment analysts at UBS Group began coverage on shares of Elastic (NYSE:ESTCGet Free Report) in a report released on Wednesday, MarketBeat reports. The firm set a “buy” rating and a $135.00 price target on the stock. UBS Group’s price objective points to a potential upside of 27.33% from the company’s previous close.

A number of other equities analysts have also recently issued reports on the stock. TheStreet upgraded shares of Elastic from a “d+” rating to a “c-” rating in a research report on Wednesday, February 7th. Scotiabank lowered their target price on Elastic from $185.00 to $154.00 and set a “sector outperform” rating on the stock in a report on Friday, March 1st. Truist Financial boosted their price target on Elastic from $130.00 to $140.00 and gave the stock a “buy” rating in a report on Tuesday, February 20th. Oppenheimer upped their price objective on Elastic from $110.00 to $130.00 and gave the company an “outperform” rating in a research report on Friday, March 1st. Finally, Royal Bank of Canada lifted their price objective on Elastic from $134.00 to $147.00 and gave the stock an “overweight” rating in a research report on Monday, March 4th. Seven analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $112.45.

Read Our Latest Report on ESTC

Elastic Price Performance

Shares of NYSE:ESTC opened at $106.02 on Wednesday. The firm has a market capitalization of $10.69 billion, a price-to-earnings ratio of 230.48 and a beta of 0.92. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.87 and a quick ratio of 1.87. The business’s 50 day simple moving average is $102.49 and its 200-day simple moving average is $106.46. Elastic has a 12 month low of $57.38 and a 12 month high of $136.06.

Elastic (NYSE:ESTCGet Free Report) last issued its quarterly earnings data on Thursday, February 29th. The company reported ($0.27) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.28) by $0.01. The firm had revenue of $327.96 million during the quarter, compared to analysts’ expectations of $320.48 million. Elastic had a negative return on equity of 23.94% and a net margin of 4.63%. As a group, equities analysts forecast that Elastic will post -1.13 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Steven Schuurman sold 815,000 shares of the stock in a transaction on Tuesday, March 26th. The shares were sold at an average price of $97.54, for a total value of $79,495,100.00. Following the completion of the sale, the director now owns 8,382,000 shares of the company’s stock, valued at $817,580,280. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Steven Schuurman sold 815,000 shares of the firm’s stock in a transaction dated Tuesday, March 26th. The stock was sold at an average price of $97.54, for a total transaction of $79,495,100.00. Following the sale, the director now directly owns 8,382,000 shares in the company, valued at approximately $817,580,280. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, 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 owns 4,518,714 shares of the company’s stock, valued at $480,022,988.22. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 962,440 shares of company stock valued at $94,535,764. 18.10% of the stock is currently owned by company insiders.

Institutional Trading of Elastic

A number of hedge funds have recently made changes to their positions in the stock. Rakuten Securities Inc. bought a new position in shares of Elastic during the fourth quarter worth about $25,000. GAMMA Investing LLC acquired a new position in shares of Elastic during the fourth quarter valued at $39,000. Cypress Capital Management LLC WY bought a new position in Elastic in the 4th quarter worth about $45,000. Covestor Ltd grew its holdings in Elastic by 168.3% in the 3rd quarter. Covestor Ltd now owns 448 shares of the company’s stock worth $36,000 after buying an additional 281 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC bought a new position in shares of Elastic in the first quarter worth $64,000. Institutional investors and hedge funds own 97.03% of the company’s stock.

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.

See Also

Analyst Recommendations for Elastic (NYSE:ESTC)

Receive News & Ratings for Elastic Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Elastic and related companies with MarketBeat.com's FREE daily email newsletter.