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

Shares of Elastic (NYSE:ESTC) have received a consensus recommendation of “Moderate Buy” from the twenty-six analysts that are presently covering the company, Marketbeat Ratings reports. Seven research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $130.09.

Several equities research analysts have weighed in on the company. Canaccord Genuity Group upped their price target on Elastic from $130.00 to $135.00 and gave the stock a “buy” rating in a report on Friday, February 28th. Wells Fargo & Company lifted their price target on shares of Elastic from $135.00 to $150.00 and gave the stock an “overweight” rating in a research note on Friday, February 28th. Jefferies Financial Group reduced 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, April 7th. Robert W. Baird increased their target price on shares of Elastic from $135.00 to $140.00 and gave the stock an “outperform” rating in a research note on Friday, February 28th. Finally, UBS Group lifted their price objective on shares of Elastic from $140.00 to $148.00 and gave the company a “buy” rating in a research report on Friday, February 28th.

Insider Buying and Selling

In other news, CEO Ashutosh Kulkarni sold 5,000 shares of the business’s stock in a transaction dated Tuesday, March 25th. The stock was sold at an average price of $102.64, for a total transaction of $513,200.00. Following the completion of the sale, the chief executive officer now owns 371,591 shares in the company, valued at approximately $38,140,100.24. The trade was a 1.33 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CTO Shay Banon sold 140,129 shares of the stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $106.68, for a total transaction of $14,948,961.72. Following the completion of the sale, 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 disclosure for this sale can be found here. In the last quarter, insiders sold 198,304 shares of company stock worth $20,847,452. 15.90% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of ESTC. Blue Zone Wealth Advisors LLC grew its holdings in Elastic by 9.4% during the 1st quarter. Blue Zone Wealth Advisors LLC now owns 51,384 shares of the company’s stock valued at $4,578,000 after purchasing an additional 4,410 shares in the last quarter. Merit Financial Group LLC acquired a new stake in shares of Elastic during the 1st quarter valued at approximately $881,000. Parallel Advisors LLC lifted its position in shares of Elastic by 4.5% in the 1st quarter. Parallel Advisors LLC now owns 3,396 shares of the company’s stock worth $303,000 after buying an additional 145 shares during the last quarter. GAMMA Investing LLC boosted its stake in Elastic by 20,800.0% in the first quarter. GAMMA Investing LLC now owns 50,787 shares of the company’s stock valued at $4,525,000 after acquiring an additional 50,544 shares during the period. Finally, Versant Capital Management Inc boosted its position in Elastic by 2,814.2% during the 1st quarter. Versant Capital Management Inc now owns 3,293 shares of the company’s stock valued at $293,000 after purchasing an additional 3,180 shares during the period. Institutional investors and hedge funds own 97.03% of the company’s stock.

Elastic Stock Performance

Shares of ESTC stock opened at $79.70 on Friday. Elastic has a one year low of $69.00 and a one year high of $123.96. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.99 and a current ratio of 1.99. The firm’s 50 day moving average price is $98.83 and its 200-day moving average price is $96.44. The firm has a market cap of $8.32 billion, a P/E ratio of 144.90 and a beta of 1.19.

Elastic (NYSE:ESTC) last released 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). Elastic had a net margin of 4.39% and a negative return on equity of 13.20%. The firm had revenue of $382.08 million during the quarter, compared to analyst estimates of $368.85 million. As a group, equities research analysts predict that Elastic will post -0.77 EPS for the current 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.