Elastic (NYSE:ESTC) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

Shares of Elastic (NYSE:ESTC) 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.

Insider Transactions at Elastic

In other news, insider Carolyn Herzog sold 4,489 shares of the 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 directly owns 102,959 shares in the company, valued at $7,232,869.75. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, insider Carolyn Herzog sold 4,489 shares of the 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 directly owns 102,959 shares in the company, valued at $7,232,869.75. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Paul R. Auvil III bought 20,000 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were purchased at an average price of $74.25 per share, with a total value of $1,485,000.00. Following the completion of the acquisition, the director now owns 22,627 shares of the company’s stock, valued at approximately $1,680,054.75. The disclosure for this purchase can be found here. Over the last ninety days, insiders sold 37,406 shares of company stock worth $2,627,772. Company insiders own 18.10% of the company’s stock.

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) 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.