Elastic (NYSE:ESTC) PT Lowered to $125.00 at JPMorgan Chase & Co.

Elastic (NYSE:ESTCFree Report) had its price target lowered by JPMorgan Chase & Co. from $138.00 to $125.00 in a report released on Friday, Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the stock.

ESTC has been the subject of several other research reports. Oppenheimer lifted their price objective on Elastic from $110.00 to $130.00 and gave the stock an outperform rating in a report on Friday, March 1st. Rosenblatt Securities increased their price objective on shares of Elastic from $105.00 to $136.00 and gave the stock a buy rating in a research note on Friday, March 1st. Stifel Nicolaus boosted their target price on shares of Elastic from $99.00 to $130.00 and gave the company a buy rating in a research report on Friday, March 1st. Citigroup decreased their price target on shares of Elastic from $165.00 to $155.00 and set a buy rating on the stock in a research report on Monday, March 4th. Finally, TheStreet raised shares of Elastic from a d+ rating to a c- rating in a research report on Wednesday, February 7th. Seven investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Elastic currently has a consensus rating of Moderate Buy and a consensus price target of $113.80.

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Elastic Price Performance

Shares of NYSE:ESTC opened at $104.95 on Friday. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.87 and a current ratio of 1.87. The firm has a market cap of $10.58 billion, a price-to-earnings ratio of 228.15 and a beta of 0.92. The business has a 50-day simple moving average of $102.57 and a two-hundred day simple moving average of $107.14. Elastic has a fifty-two week low of $57.38 and a fifty-two week high of $136.06.

Elastic (NYSE:ESTCGet Free Report) last released its quarterly earnings data 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 firm had revenue of $327.96 million during the quarter, compared to analysts’ expectations of $320.48 million. On average, analysts expect that Elastic will post -1.13 earnings per share for the current year.

Insider Buying and Selling at Elastic

In other news, CTO Shay Banon sold 1,322 shares of Elastic stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $106.23, for a total value 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 $480,022,988.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Elastic news, CTO Shay Banon sold 1,322 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the chief technology officer now owns 4,518,714 shares in the company, valued at approximately $480,022,988.22. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Steven Schuurman sold 815,000 shares of the company’s stock in a transaction that occurred on Tuesday, March 26th. The stock was sold at an average price of $97.54, for a total value of $79,495,100.00. Following the sale, the director now directly owns 8,382,000 shares in the company, valued at $817,580,280. The disclosure for this sale can be found here. Insiders sold a total of 962,440 shares of company stock valued at $94,535,764 in the last three months. 18.10% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Rakuten Securities Inc. bought a new stake in shares of Elastic during the 4th quarter worth approximately $25,000. GAMMA Investing LLC purchased a new stake in shares of Elastic during the fourth quarter valued at $39,000. Cypress Capital Management LLC WY bought a new position in shares of Elastic in the fourth quarter worth about $45,000. Covestor Ltd grew its holdings in shares of Elastic by 168.3% in the third quarter. Covestor Ltd now owns 448 shares of the company’s stock worth $36,000 after purchasing an additional 281 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC purchased a new position in Elastic in the 1st quarter worth about $64,000. Institutional investors own 97.03% of the company’s stock.

Elastic Company Profile

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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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