Elastic (NYSE:ESTC) Given Consensus Rating of “Moderate Buy” by Brokerages

Shares of Elastic (NYSE:ESTC) have been given an average recommendation of “Moderate Buy” by the twenty-six analysts that are covering the firm, MarketBeat.com reports. Seven equities research analysts have rated the stock with a hold recommendation, eighteen have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $130.09.

A number of analysts have recently issued reports on ESTC shares. Truist Financial dropped their price objective on shares of Elastic from $145.00 to $140.00 and set a “buy” rating on the stock in a research note on Monday, March 31st. Canaccord Genuity Group boosted their price objective on shares of Elastic from $130.00 to $135.00 and gave the stock a “buy” rating in a report on Friday, February 28th. Robert W. Baird raised their target price on Elastic from $135.00 to $140.00 and gave the company an “outperform” rating in a research note on Friday, February 28th. Rosenblatt Securities reiterated a “buy” rating and issued a $130.00 price target on shares of Elastic in a research note on Tuesday, February 25th. Finally, Jefferies Financial Group lowered their price objective on Elastic from $125.00 to $110.00 and set a “buy” rating for the company in a research note on Monday.

Insider Transactions at Elastic

In other Elastic news, CTO Shay Banon sold 140,129 shares of the business’s stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $106.68, for a total transaction of $14,948,961.72. Following the completion of the transaction, the chief technology officer now directly owns 2,254,978 shares of the company’s stock, valued at $240,561,053.04. The trade was a 5.85 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Ashutosh Kulkarni sold 18,735 shares of the firm’s stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $90.77, for a total transaction of $1,700,575.95. Following the completion of the sale, the chief executive officer now owns 376,591 shares in the company, valued at $34,183,165.07. The trade was a 4.74 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 198,304 shares of company stock worth $20,847,452. 15.90% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Elastic

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. increased its position in Elastic by 1.8% in the 4th quarter. Vanguard Group Inc. now owns 9,352,108 shares of the company’s stock valued at $926,607,000 after acquiring an additional 168,483 shares during the period. Sylebra Capital LLC raised its stake in shares of Elastic by 62.6% during the fourth quarter. Sylebra Capital LLC now owns 4,561,462 shares of the company’s stock valued at $451,950,000 after purchasing an additional 1,756,842 shares in the last quarter. Pictet Asset Management Holding SA lifted its holdings in Elastic by 15.6% in the fourth quarter. Pictet Asset Management Holding SA now owns 3,429,756 shares of the company’s stock worth $339,820,000 after purchasing an additional 462,974 shares during the period. Geode Capital Management LLC lifted its holdings in Elastic by 3.2% in the fourth quarter. Geode Capital Management LLC now owns 1,439,412 shares of the company’s stock worth $142,663,000 after purchasing an additional 45,076 shares during the period. Finally, State Street Corp increased its stake in Elastic by 2.3% during the 3rd quarter. State Street Corp now owns 1,437,243 shares of the company’s stock valued at $110,323,000 after buying an additional 31,663 shares during the period. 97.03% of the stock is currently owned by institutional investors and hedge funds.

Elastic Stock Down 5.4 %

Shares of Elastic stock opened at $78.86 on Friday. Elastic has a twelve month low of $69.00 and a twelve month high of $123.96. The stock has a market cap of $8.23 billion, a price-to-earnings ratio of 143.37 and a beta of 1.19. The company has a current ratio of 1.99, a quick ratio of 1.99 and a debt-to-equity ratio of 0.70. The company has a fifty day moving average price of $99.55 and a 200 day moving average price of $96.43.

Elastic (NYSE:ESTC) last issued its earnings results on Thursday, February 27th. The company reported ($0.01) earnings per share for the quarter, missing the consensus estimate of $0.47 by ($0.48). The company had revenue of $382.08 million during the quarter, compared to analysts’ expectations of $368.85 million. Elastic had a negative return on equity of 13.20% and a net margin of 4.39%. Equities research analysts forecast that Elastic will post -0.77 earnings per share for the current fiscal year.

About Elastic

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.