Elastic (NYSE:ESTC) Price Target Raised to $138.00

Elastic (NYSE:ESTC) had its price target upped by Barclays from $105.00 to $138.00 in a report released on Monday morning,Benzinga reports. The firm currently has an overweight rating on the stock.

Other analysts have also issued reports about the stock. Needham & Company LLC reaffirmed a “hold” rating on shares of Elastic in a research report on Friday, November 22nd. The Goldman Sachs Group upped their target price on shares of Elastic from $99.00 to $113.00 and gave the company a “neutral” rating in a report on Friday, November 22nd. Robert W. Baird upgraded Elastic from a “neutral” rating to an “outperform” rating and lifted their price target for the stock from $95.00 to $135.00 in a report on Friday, November 22nd. Wells Fargo & Company upped their price objective on Elastic from $100.00 to $135.00 and gave the company an “overweight” rating in a research note on Friday, November 22nd. Finally, Oppenheimer lifted their target price on Elastic from $125.00 to $140.00 and gave the stock an “outperform” rating in a research note on Friday, November 22nd. Five analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $126.33.

Elastic Price Performance

NYSE:ESTC opened at $110.13 on Monday. The stock’s 50-day simple moving average is $83.22 and its 200 day simple moving average is $96.99. Elastic has a 52-week low of $69.00 and a 52-week high of $136.06. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.91 and a current ratio of 1.91. The company has a market cap of $11.32 billion, a P/E ratio of 204.47 and a beta of 0.94.

Elastic (NYSE:ESTC) last announced its quarterly earnings data on Thursday, August 29th. The company reported $0.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.25 by $0.10. Elastic had a negative return on equity of 13.54% and a net margin of 4.39%. The company had revenue of $347.42 million for the quarter, compared to analysts’ expectations of $344.67 million. During the same quarter in the prior year, the business posted ($0.35) EPS. The business’s revenue was up 18.3% compared to the same quarter last year. As a group, sell-side analysts forecast that Elastic will post -0.92 EPS for the current fiscal year.

Insider Transactions at Elastic

In other news, Director Paul R. Auvil III acquired 20,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was acquired at an average price of $74.25 per share, with a total value of $1,485,000.00. Following the completion of the transaction, the director now directly owns 22,627 shares of the company’s stock, valued at $1,680,054.75. This trade represents a 761.32 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Janesh Moorjani sold 6,941 shares of the firm’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $70.25, for a total transaction of $487,605.25. Following the completion of the transaction, the chief financial officer now directly owns 195,550 shares in the company, valued at approximately $13,737,387.50. This represents a 3.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 198,551 shares of company stock valued at $20,506,656. 15.90% of the stock is currently owned by company insiders.

Institutional Trading of Elastic

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Asset Dedication LLC raised its position in Elastic by 1,333.3% during the second quarter. Asset Dedication LLC now owns 301 shares of the company’s stock valued at $34,000 after purchasing an additional 280 shares in the last quarter. AlphaCentric Advisors LLC bought a new position in shares of Elastic in the 2nd quarter valued at $40,000. Quarry LP acquired a new position in shares of Elastic during the 2nd quarter worth $40,000. Lynx Investment Advisory bought a new stake in shares of Elastic during the 2nd quarter worth $43,000. Finally, Signaturefd LLC lifted its position in shares of Elastic by 44.1% during the 2nd quarter. Signaturefd LLC now owns 389 shares of the company’s stock worth $44,000 after buying an additional 119 shares during the last quarter. Institutional investors own 97.03% of the company’s stock.

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.