Rosenblatt Securities Reiterates “Buy” Rating for Elastic (NYSE:ESTC)

Elastic (NYSE:ESTC)‘s stock had its “buy” rating reiterated by investment analysts at Rosenblatt Securities in a research report issued to clients and investors on Tuesday,Benzinga reports. They currently have a $130.00 price target on the stock. Rosenblatt Securities’ price target points to a potential upside of 25.00% from the stock’s current price.

Several other analysts have also commented on the company. Scotiabank cut their price objective on Elastic from $135.00 to $127.00 and set a “sector outperform” rating for the company in a report on Tuesday, January 21st. Canaccord Genuity Group upped their price target on shares of Elastic from $110.00 to $130.00 and gave the company a “buy” rating in a research report on Friday, November 22nd. Wells Fargo & Company increased their price objective on shares of Elastic from $100.00 to $135.00 and gave the stock an “overweight” rating in a research note on Friday, November 22nd. Royal Bank of Canada boosted their target price on shares of Elastic from $110.00 to $130.00 and gave the company an “outperform” rating in a research report on Friday, November 22nd. Finally, Oppenheimer increased their price target on shares of Elastic from $125.00 to $140.00 and gave the stock an “outperform” rating in a research report on Friday, November 22nd. Seven equities research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $125.78.

Elastic Trading Down 2.2 %

Shares of ESTC stock opened at $104.00 on Tuesday. The company has a current ratio of 1.99, a quick ratio of 1.99 and a debt-to-equity ratio of 0.70. Elastic has a 12-month low of $69.00 and a 12-month high of $136.06. The stock has a market capitalization of $10.78 billion, a P/E ratio of 190.04 and a beta of 1.07. The firm’s 50 day moving average is $106.00 and its 200 day moving average is $95.42.

Insider Buying and Selling at Elastic

In related news, CEO Ashutosh Kulkarni sold 7,017 shares of the firm’s stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $108.12, for a total transaction of $758,678.04. Following the completion of the sale, the chief executive officer now directly owns 395,326 shares of the company’s stock, valued at approximately $42,742,647.12. This trade represents a 1.74 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 15.90% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. SBI Securities Co. Ltd. bought a new position in shares of Elastic during the fourth quarter valued at approximately $25,000. Geneos Wealth Management Inc. purchased a new stake in Elastic during the fourth quarter worth $25,000. Fourth Dimension Wealth LLC bought a new stake in Elastic during the 4th quarter valued at $26,000. Venturi Wealth Management LLC increased its holdings in shares of Elastic by 793.3% in the 4th quarter. Venturi Wealth Management LLC now owns 268 shares of the company’s stock valued at $27,000 after acquiring an additional 238 shares during the period. Finally, Smartleaf Asset Management LLC raised its position in shares of Elastic by 126.4% in the 4th quarter. Smartleaf Asset Management LLC now owns 283 shares of the company’s stock worth $28,000 after acquiring an additional 158 shares in the last quarter. Hedge funds and other 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.