Elastic (NYSE:ESTC) Receives $111.26 Consensus Target Price from Analysts

Elastic (NYSE:ESTC) has been assigned an average rating of “Moderate Buy” from the twenty-one research firms that are presently covering the firm, Marketbeat Ratings reports. Seven analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $111.26.

A number of brokerages have issued reports on ESTC. Citigroup decreased their price target on Elastic from $165.00 to $155.00 and set a “buy” rating for the company in a report on Monday, March 4th. Stifel Nicolaus boosted their price target on Elastic from $99.00 to $130.00 and gave the company a “buy” rating in a report on Friday, March 1st. Truist Financial boosted their price target on Elastic from $130.00 to $140.00 and gave the company a “buy” rating in a report on Tuesday, February 20th. Barclays decreased their price target on Elastic from $130.00 to $128.00 and set an “equal weight” rating for the company in a report on Friday, March 1st. Finally, The Goldman Sachs Group boosted their price target on Elastic from $93.00 to $106.00 and gave the company a “neutral” rating in a report on Friday, March 1st.

Insider Buying and Selling

In related news, CEO Ashutosh Kulkarni sold 15,778 shares of the business’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $103.28, for a total transaction of $1,629,551.84. Following the completion of the sale, the chief executive officer now directly owns 364,235 shares in the company, valued at $37,618,190.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Elastic news, CFO Janesh Moorjani sold 5,515 shares of the company’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $103.28, for a total value of $569,589.20. Following the completion of the sale, the chief financial officer now directly owns 156,797 shares in the company, valued at approximately $16,193,994.16. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Ashutosh Kulkarni sold 15,778 shares of the company’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $103.28, for a total value of $1,629,551.84. Following the completion of the sale, the chief executive officer now owns 364,235 shares of the company’s stock, valued at $37,618,190.80. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 962,440 shares of company stock worth $94,535,764. 18.10% of the stock is owned by corporate insiders.

Institutional Trading of Elastic

Large investors have recently added to or reduced their stakes in the stock. Rakuten Securities Inc. purchased a new stake in Elastic in the 4th quarter valued at $25,000. Covestor Ltd grew its holdings in Elastic by 168.3% in the 3rd quarter. Covestor Ltd now owns 448 shares of the company’s stock valued at $36,000 after buying an additional 281 shares in the last quarter. GAMMA Investing LLC purchased a new stake in Elastic in the 4th quarter valued at $39,000. Cypress Capital Management LLC WY acquired a new position in shares of Elastic in the 4th quarter valued at $45,000. Finally, Allspring Global Investments Holdings LLC acquired a new position in shares of Elastic in the 1st quarter valued at $64,000. 97.03% of the stock is currently owned by hedge funds and other institutional investors.

Elastic Trading Up 4.2 %

Elastic stock opened at $102.54 on Friday. The company has a quick ratio of 1.87, a current ratio of 1.87 and a debt-to-equity ratio of 0.80. Elastic has a 52 week low of $54.06 and a 52 week high of $136.06. The company has a market capitalization of $10.34 billion, a price-to-earnings ratio of 222.91 and a beta of 0.94. The stock has a 50-day moving average price of $108.34 and a 200 day moving average price of $102.24.

Elastic (NYSE:ESTC) last released its earnings results on Thursday, February 29th. The company reported ($0.27) EPS for the quarter, topping analysts’ consensus estimates of ($0.28) by $0.01. Elastic had a negative return on equity of 23.94% and a net margin of 4.63%. The firm had revenue of $327.96 million during the quarter, compared to the consensus estimate of $320.48 million. Sell-side analysts anticipate that Elastic will post -1.13 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.