Shares of Elastic NV (NYSE:ESTC) have been assigned a consensus rating of “Hold” from the fourteen research firms that are currently covering the stock, MarketBeat.com reports. Eight research analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average 12-month price objective among analysts that have issued ratings on the stock in the last year is $90.64.
A number of equities analysts have recently weighed in on ESTC shares. KeyCorp reaffirmed a “buy” rating and issued a $102.00 price target on shares of Elastic in a research note on Thursday, April 18th. Monness Crespi & Hardt reaffirmed a “buy” rating and issued a $120.00 price target (up from $100.00) on shares of Elastic in a research note on Thursday, February 28th. Barclays reaffirmed a “buy” rating and issued a $107.00 price target on shares of Elastic in a research note on Friday, March 1st. Jefferies Financial Group upped their price target on shares of Elastic to $90.00 and gave the stock a “hold” rating in a research note on Thursday, February 28th. They noted that the move was a valuation call. Finally, Zacks Investment Research downgraded shares of Elastic from a “buy” rating to a “hold” rating in a research note on Tuesday, February 5th.
Shares of NYSE ESTC traded up $0.60 during mid-day trading on Friday, reaching $83.85. The company had a trading volume of 2,897 shares, compared to its average volume of 607,326. Elastic has a twelve month low of $58.55 and a twelve month high of $100.43.
Elastic (NYSE:ESTC) last posted its quarterly earnings results on Wednesday, February 27th. The company reported ($0.29) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.37) by $0.08. The company had revenue of $70.80 million during the quarter, compared to analyst estimates of $65.77 million. The firm’s revenue was up 69.8% compared to the same quarter last year. On average, sell-side analysts predict that Elastic will post -1.78 EPS for the current year.
In related news, SVP Kevin Kluge sold 70,000 shares of the company’s stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $83.62, for a total value of $5,853,400.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CRO Aaron Katz sold 15,000 shares of the company’s stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $82.76, for a total transaction of $1,241,400.00. The disclosure for this sale can be found here. Insiders sold 1,986,322 shares of company stock valued at $164,923,060 over the last quarter. 51.80% of the stock is currently owned by corporate insiders.
A number of large investors have recently modified their holdings of ESTC. Greenspring Associates Inc. bought a new stake in Elastic during the fourth quarter valued at about $256,206,000. Morgan Stanley raised its position in shares of Elastic by 237.6% during the first quarter. Morgan Stanley now owns 3,864,575 shares of the company’s stock valued at $308,663,000 after buying an additional 2,719,851 shares during the last quarter. FIL Ltd raised its position in shares of Elastic by 203.3% during the first quarter. FIL Ltd now owns 3,750,978 shares of the company’s stock valued at $299,591,000 after buying an additional 2,514,334 shares during the last quarter. Lunia Capital LP acquired a new position in shares of Elastic during the fourth quarter valued at about $2,072,000. Finally, FMR LLC raised its position in shares of Elastic by 110.7% during the first quarter. FMR LLC now owns 1,046,489 shares of the company’s stock valued at $83,582,000 after buying an additional 549,862 shares during the last quarter. Hedge funds and other institutional investors own 37.56% of the company’s stock.
Elastic Company Profile
Elastic N.V. develops and delivers technology that enables users to search structured and unstructured data for a range of consumer and enterprise applications. It primarily provides 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.
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