Elastic (NYSE:ESTC) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Elastic (NYSE:ESTC) has been given a consensus rating of “Moderate Buy” by the twenty-five brokerages that are currently covering the stock, Marketbeat Ratings reports. Six research analysts have rated the stock with a hold recommendation, eighteen have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $126.50.

ESTC has been the subject of several analyst reports. DA Davidson increased their price objective on Elastic from $75.00 to $115.00 and gave the company a “neutral” rating in a report on Friday, November 22nd. Needham & Company LLC reissued a “hold” rating on shares of Elastic in a report on Friday, November 22nd. Citigroup upped their price objective on shares of Elastic from $136.00 to $150.00 and gave the company a “buy” rating in a report on Monday, November 25th. Wedbush cut shares of Elastic from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, December 18th. Finally, Stifel Nicolaus boosted their target price on shares of Elastic from $98.00 to $132.00 and gave the stock a “buy” rating in a research report on Friday, November 22nd.

Insider Activity at Elastic

In related news, CEO Ashutosh Kulkarni sold 7,017 shares of the business’s stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $108.12, for a total value of $758,678.04. Following the completion of the sale, the chief executive officer now owns 395,326 shares of the company’s stock, valued at approximately $42,742,647.12. The trade was a 1.74 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CTO Shay Banon sold 150,000 shares of the stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $110.92, for a total transaction of $16,638,000.00. Following the transaction, the chief technology officer now directly owns 2,604,978 shares in the company, valued at approximately $288,944,159.76. The trade was a 5.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 168,162 shares of company stock worth $18,637,562. 15.90% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Asset Dedication LLC increased its stake in Elastic by 1,333.3% during the 2nd quarter. Asset Dedication LLC now owns 301 shares of the company’s stock worth $34,000 after buying an additional 280 shares in the last quarter. Quarry LP purchased a new stake in shares of Elastic during the second quarter worth approximately $40,000. Signaturefd LLC raised its stake in Elastic by 44.1% in the 2nd quarter. Signaturefd LLC now owns 389 shares of the company’s stock valued at $44,000 after purchasing an additional 119 shares during the last quarter. Eastern Bank purchased a new position in Elastic in the 3rd quarter valued at $61,000. Finally, Headlands Technologies LLC boosted its stake in Elastic by 75.4% during the 2nd quarter. Headlands Technologies LLC now owns 628 shares of the company’s stock worth $72,000 after purchasing an additional 270 shares during the last quarter. Institutional investors and hedge funds own 97.03% of the company’s stock.

Elastic Trading Up 0.0 %

NYSE:ESTC opened at $99.10 on Friday. The stock has a market capitalization of $10.27 billion, a price-to-earnings ratio of 180.18 and a beta of 1.02. Elastic has a 52 week low of $69.00 and a 52 week high of $136.06. The company has a quick ratio of 1.99, a current ratio of 1.99 and a debt-to-equity ratio of 0.70. The firm has a 50 day moving average of $97.93 and a 200 day moving average of $96.80.

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.