Elastic (NYSE:ESTC) PT Lowered to $90.00 at Barclays

Elastic (NYSE:ESTC) had its price objective trimmed by Barclays from $106.00 to $90.00 in a report released on Friday morning, Benzinga reports. The brokerage currently has an equal weight rating on the stock.

Several other equities analysts have also weighed in on the stock. Stifel Nicolaus cut their price objective on shares of Elastic from $120.00 to $98.00 and set a buy rating on the stock in a research report on Friday, August 30th. Bank of America downgraded shares of Elastic from a buy rating to a neutral rating and decreased their price target for the stock from $140.00 to $94.00 in a research note on Friday, August 30th. Needham & Company LLC reiterated a hold rating on shares of Elastic in a research note on Friday, August 30th. Truist Financial dropped their price objective on shares of Elastic from $140.00 to $105.00 and set a buy rating for the company in a report on Friday, August 30th. Finally, Citigroup raised their price objective on shares of Elastic from $155.00 to $160.00 and gave the stock a buy rating in a report on Wednesday, August 28th. Nine research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of Moderate Buy and an average price target of $103.48.

Elastic Price Performance

Shares of NYSE ESTC opened at $76.39 on Friday. Elastic has a twelve month low of $69.00 and a twelve month high of $136.06. The company has a current ratio of 1.91, a quick ratio of 1.91 and a debt-to-equity ratio of 0.75. The company has a market capitalization of $7.77 billion, a price-to-earnings ratio of 144.13 and a beta of 0.94. The firm has a 50-day moving average of $97.52 and a two-hundred day moving average of $102.93.

Elastic (NYSE:ESTC) last posted its quarterly earnings results on Thursday, August 29th. The company reported $0.35 EPS for the quarter, topping the consensus estimate of $0.25 by $0.10. The business had revenue of $347.42 million during the quarter, compared to analysts’ expectations of $344.67 million. Elastic had a net margin of 4.62% and a negative return on equity of 17.54%. The firm’s quarterly revenue was up 18.3% compared to the same quarter last year. During the same period last year, the company posted ($0.35) earnings per share. As a group, analysts expect that Elastic will post -0.94 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Elastic news, CTO Shay Banon sold 2,666 shares of Elastic stock in a transaction on Monday, September 9th. The shares were sold at an average price of $70.25, for a total value of $187,286.50. Following the sale, the chief technology officer now directly owns 4,543,190 shares in the company, valued at approximately $319,159,097.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, insider Carolyn Herzog sold 4,489 shares of Elastic stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $70.25, for a total transaction of $315,352.25. Following the completion of the sale, the insider now owns 102,959 shares of the company’s stock, valued at approximately $7,232,869.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CTO Shay Banon sold 2,666 shares of Elastic stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $70.25, for a total transaction of $187,286.50. Following the sale, the chief technology officer now directly owns 4,543,190 shares of the company’s stock, valued at approximately $319,159,097.50. The disclosure for this sale can be found here. Insiders have sold a total of 37,406 shares of company stock worth $2,627,772 over the last ninety days. Company insiders own 18.10% of the company’s stock.

Institutional Trading of Elastic

A number of institutional investors have recently bought and sold shares of the business. Nordea Investment Management AB acquired a new position in shares of Elastic in the 1st quarter valued at approximately $3,104,000. Toronto Dominion Bank bought a new stake in shares of Elastic in the 1st quarter valued at $5,780,000. Quantbot Technologies LP boosted its stake in shares of Elastic by 165.2% in the 1st quarter. Quantbot Technologies LP now owns 12,921 shares of the company’s stock valued at $1,295,000 after purchasing an additional 8,048 shares during the last quarter. CenterBook Partners LP boosted its stake in shares of Elastic by 13.1% in the 4th quarter. CenterBook Partners LP now owns 27,985 shares of the company’s stock valued at $3,154,000 after purchasing an additional 3,245 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. boosted its stake in shares of Elastic by 737.7% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 17,617 shares of the company’s stock valued at $1,766,000 after purchasing an additional 15,514 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.