Elastic (NYSE:ESTC) Receives Average Recommendation of “Moderate Buy” from Analysts

Elastic (NYSE:ESTC) has received a consensus rating of “Moderate Buy” from the twenty-two ratings firms that are currently covering the stock, MarketBeat Ratings reports. Seven research analysts have rated the stock with a hold recommendation and fifteen have assigned a buy recommendation to the company. The average 12 month target price among brokers that have covered the stock in the last year is $112.45.

Several equities research analysts have recently issued reports on ESTC shares. Rosenblatt Securities increased their price objective on shares of Elastic from $105.00 to $136.00 and gave the stock a “buy” rating in a research report on Friday, March 1st. Barclays lowered their price target on shares of Elastic from $130.00 to $128.00 and set an “equal weight” rating for the company in a report on Friday, March 1st. Citigroup lowered their price target on shares of Elastic from $165.00 to $155.00 and set a “buy” rating for the company in a report on Monday, March 4th. Oppenheimer raised their price target on shares of Elastic from $110.00 to $130.00 and gave the company an “outperform” rating in a report on Friday, March 1st. Finally, Truist Financial raised their price target on shares of Elastic from $130.00 to $140.00 and gave the company a “buy” rating in a report on Tuesday, February 20th.

Elastic Price Performance

Elastic stock opened at $107.86 on Thursday. Elastic has a 52-week low of $57.38 and a 52-week high of $136.06. The firm has a fifty day moving average of $102.44 and a 200-day moving average of $106.47. The firm has a market capitalization of $10.87 billion, a P/E ratio of 234.48 and a beta of 0.92. 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 (NYSE:ESTC) last released its quarterly earnings data on Thursday, February 29th. The company reported ($0.27) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.28) by $0.01. Elastic had a net margin of 4.63% and a negative return on equity of 23.94%. The company had revenue of $327.96 million during the quarter, compared to analyst estimates of $320.48 million. As a group, analysts predict that Elastic will post -1.13 EPS for the current year.

Insider Activity at Elastic

In related news, CTO Shay Banon sold 1,322 shares of Elastic stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $106.23, for a total value of $140,436.06. Following the sale, the chief technology officer now directly owns 4,518,714 shares in the company, valued at approximately $480,022,988.22. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Elastic news, CTO Shay Banon sold 1,322 shares of the business’s stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $106.23, for a total transaction of $140,436.06. Following the sale, the chief technology officer now directly owns 4,518,714 shares in the company, valued at approximately $480,022,988.22. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Ashutosh Kulkarni sold 15,778 shares of the business’s stock in a transaction dated 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 sale, the chief executive officer now owns 364,235 shares in the company, valued at $37,618,190.80. The disclosure for this sale can be found here. Insiders have sold a total of 962,440 shares of company stock worth $94,535,764 in the last ninety days. 18.10% of the stock is owned by insiders.

Hedge Funds Weigh In On Elastic

Several hedge funds have recently made changes to their positions in the business. Washington Harbour Partners LP acquired a new position in shares of Elastic in the 1st quarter worth approximately $1,443,000. LBP AM SA purchased a new position in shares of Elastic in the first quarter worth approximately $2,317,000. Castleark Management LLC increased its position in shares of Elastic by 76.9% in the first quarter. Castleark Management LLC now owns 30,460 shares of the company’s stock worth $3,053,000 after acquiring an additional 13,240 shares in the last quarter. Tidal Investments LLC increased its position in shares of Elastic by 612.2% in the first quarter. Tidal Investments LLC now owns 23,267 shares of the company’s stock worth $2,332,000 after acquiring an additional 20,000 shares in the last quarter. Finally, Grandeur Peak Global Advisors LLC increased its position in shares of Elastic by 9.7% in the first quarter. Grandeur Peak Global Advisors LLC now owns 352,575 shares of the company’s stock worth $35,342,000 after acquiring an additional 31,256 shares in the last quarter. Institutional investors and hedge funds own 97.03% of the company’s stock.

Elastic Company Profile

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.