Elastic (NYSE:ESTC) Price Target Raised to $136.00 at Guggenheim

Elastic (NYSE:ESTC) had its price objective increased by Guggenheim from $130.00 to $136.00 in a research report report published on Friday,Benzinga reports. Guggenheim currently has a buy rating on the stock.

A number of other brokerages have also recently commented on ESTC. Wells Fargo & Company increased their price target on shares of Elastic from $100.00 to $135.00 and gave the company an “overweight” rating in a research report on Friday, November 22nd. Rosenblatt Securities reiterated a “buy” rating and set a $130.00 price target on shares of Elastic in a research report on Tuesday. Royal Bank of Canada increased their price target 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. Morgan Stanley assumed coverage on shares of Elastic in a research report on Tuesday, December 17th. They set an “overweight” rating and a $130.00 price target on the stock. Finally, Scotiabank reduced their price target on shares of Elastic from $135.00 to $127.00 and set a “sector outperform” rating on the stock in a research report on Tuesday, January 21st. Seven research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Elastic has an average rating of “Moderate Buy” and a consensus price target of $131.09.

Elastic Trading Up 14.9 %

Shares of ESTC opened at $116.38 on Friday. The firm’s 50 day simple moving average is $105.85 and its 200 day simple moving average is $95.51. The company has a market capitalization of $12.06 billion, a P/E ratio of 211.61 and a beta of 1.07. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.99 and a quick ratio of 1.99. Elastic has a 1-year low of $69.00 and a 1-year high of $136.06.

Elastic (NYSE:ESTC) last announced its earnings results on Thursday, February 27th. The company reported ($0.01) earnings per share for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.48). Elastic had a net margin of 4.39% and a negative return on equity of 13.20%. The company had revenue of $382.08 million during the quarter, compared to analysts’ expectations of $368.85 million. Sell-side analysts forecast that Elastic will post -0.77 earnings per share for the current fiscal year.

Insider Buying and Selling at Elastic

In other news, CEO Ashutosh Kulkarni sold 7,017 shares of the business’s stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $108.12, for a total transaction of $758,678.04. Following the sale, the chief executive officer now owns 395,326 shares in the company, valued at approximately $42,742,647.12. The trade was a 1.74 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 15.90% of the company’s stock.

Institutional Trading of Elastic

A number of hedge funds have recently modified their holdings of the business. Vanguard Group Inc. boosted its holdings in shares of Elastic by 1.8% during the 4th quarter. Vanguard Group Inc. now owns 9,352,108 shares of the company’s stock valued at $926,607,000 after buying an additional 168,483 shares in the last quarter. FMR LLC boosted its holdings in shares of Elastic by 25.6% during the 3rd quarter. FMR LLC now owns 5,475,297 shares of the company’s stock valued at $420,284,000 after buying an additional 1,115,750 shares in the last quarter. Sylebra Capital LLC boosted its holdings in shares of Elastic by 62.6% during the 4th quarter. Sylebra Capital LLC now owns 4,561,462 shares of the company’s stock valued at $451,950,000 after buying an additional 1,756,842 shares in the last quarter. Pictet Asset Management Holding SA boosted its holdings in shares of Elastic by 15.6% during the 4th quarter. Pictet Asset Management Holding SA now owns 3,429,756 shares of the company’s stock valued at $339,820,000 after buying an additional 462,974 shares in the last quarter. Finally, Atreides Management LP boosted its holdings in shares of Elastic by 57.2% during the 3rd quarter. Atreides Management LP now owns 1,687,791 shares of the company’s stock valued at $129,555,000 after buying an additional 614,309 shares in the last quarter. Institutional investors 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.