Elastic (NYSE:ESTC) Given Consensus Rating of “Moderate Buy” by Analysts

Elastic (NYSE:ESTC) has been given an average rating of “Moderate Buy” by the twenty-six ratings firms that are presently covering the company, MarketBeat.com reports. Seven analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $131.52.

A number of research firms have weighed in on ESTC. Bank of America raised their price objective on shares of Elastic from $94.00 to $120.00 and gave the company a “neutral” rating in a research note on Friday, November 22nd. Wedbush lowered shares of Elastic from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, December 18th. Citigroup raised their price objective on shares of Elastic from $136.00 to $150.00 and gave the company a “buy” rating in a research note on Monday, November 25th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $130.00 price objective on shares of Elastic in a research note on Tuesday, February 25th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Elastic in a research note on Friday, November 22nd.

Insiders Place Their Bets

In other news, CRO Mark Eugene Dodds sold 2,755 shares of the firm’s stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $90.77, for a total value of $250,071.35. Following the completion of the transaction, the executive now directly owns 96,484 shares in the company, valued at approximately $8,757,852.68. This trade represents a 2.78 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Carolyn Herzog sold 3,334 shares of the firm’s stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $90.78, for a total transaction of $302,660.52. Following the completion of the transaction, the insider now owns 84,152 shares of the company’s stock, valued at $7,639,318.56. This trade represents a 3.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 193,304 shares of company stock worth $20,334,252 over the last quarter. 15.90% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Elastic

Several hedge funds have recently bought and sold shares of the stock. SBI Securities Co. Ltd. purchased a new position in shares of Elastic during the fourth quarter worth approximately $25,000. Geneos Wealth Management Inc. purchased a new position in shares of Elastic in the fourth quarter worth $25,000. Fourth Dimension Wealth LLC purchased a new position in shares of Elastic in the fourth quarter worth $26,000. Venturi Wealth Management LLC increased its stake in shares of Elastic by 793.3% in the fourth quarter. Venturi Wealth Management LLC now owns 268 shares of the company’s stock worth $27,000 after buying an additional 238 shares during the period. Finally, Smartleaf Asset Management LLC increased its stake in shares of Elastic by 126.4% in the fourth quarter. Smartleaf Asset Management LLC now owns 283 shares of the company’s stock worth $28,000 after buying an additional 158 shares during the period. 97.03% of the stock is currently owned by institutional investors.

Elastic Stock Down 1.6 %

Shares of NYSE ESTC opened at $93.81 on Wednesday. The firm has a market cap of $9.79 billion, a PE ratio of 170.56 and a beta of 1.20. Elastic has a 12-month low of $69.00 and a 12-month high of $123.96. The company’s fifty day simple moving average is $105.45 and its 200 day simple moving average is $94.92. The company has a quick ratio of 1.99, a current ratio of 1.99 and a debt-to-equity ratio of 0.70.

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

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.