Shares of Elastic (NYSE:ESTC – Get Free Report) have been given a consensus rating of “Moderate Buy” by the twenty-three analysts that are presently covering the firm, MarketBeat Ratings reports. Nine investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating on the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $103.48.
Several research analysts have recently weighed in on ESTC shares. Rosenblatt Securities reaffirmed a “buy” rating and issued a $136.00 price target on shares of Elastic in a report on Tuesday, August 27th. Bank of America lowered shares of Elastic from a “buy” rating to a “neutral” rating and cut their target price for the stock from $140.00 to $94.00 in a research report on Friday, August 30th. DA Davidson cut their target price on shares of Elastic from $100.00 to $75.00 and set a “neutral” rating for the company in a research report on Friday, August 30th. Needham & Company LLC reiterated a “hold” rating on shares of Elastic in a research report on Friday, August 30th. Finally, UBS Group cut their target price on shares of Elastic from $135.00 to $95.00 and set a “buy” rating for the company in a research report on Friday, August 30th.
Read Our Latest Stock Report on ESTC
Insider Transactions at Elastic
Hedge Funds Weigh In On Elastic
Institutional investors have recently bought and sold shares of the stock. Nordea Investment Management AB bought a new position in Elastic in the first quarter worth about $3,104,000. Toronto Dominion Bank bought a new position in Elastic in the first quarter worth about $5,780,000. Quantbot Technologies LP raised its stake in Elastic by 165.2% in the first quarter. Quantbot Technologies LP now owns 12,921 shares of the company’s stock worth $1,295,000 after buying an additional 8,048 shares in the last quarter. CenterBook Partners LP raised its stake in Elastic by 13.1% in the fourth quarter. CenterBook Partners LP now owns 27,985 shares of the company’s stock worth $3,154,000 after buying an additional 3,245 shares in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. raised its stake in Elastic by 737.7% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 17,617 shares of the company’s stock worth $1,766,000 after buying an additional 15,514 shares in the last quarter. 97.03% of the stock is owned by institutional investors.
Elastic Trading Up 1.5 %
Elastic stock opened at $78.19 on Wednesday. The stock has a market cap of $7.95 billion, a P/E ratio of 147.53 and a beta of 0.94. Elastic has a fifty-two week low of $69.00 and a fifty-two week high of $136.06. The firm’s fifty day moving average price is $95.89 and its 200-day moving average price is $102.53. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.91 and a current ratio of 1.91.
Elastic (NYSE:ESTC – Get Free Report) last released its quarterly earnings results on Thursday, August 29th. The company reported $0.35 earnings per share for the quarter, topping the consensus estimate of $0.25 by $0.10. The firm had revenue of $347.42 million for 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 business’s quarterly revenue was up 18.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.35) earnings per share. Equities research analysts forecast that Elastic will post -0.94 earnings per share for the current fiscal year.
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.
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