Elastic (NYSE:ESTC) Receives $103.71 Average Price Target from Brokerages

Shares of Elastic (NYSE:ESTC) have been given an average rating of “Moderate Buy” by the twenty-four research firms that are currently covering the stock, MarketBeat reports. Eight investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $103.71.

Several analysts have weighed in on the company. Royal Bank of Canada lowered their price objective on Elastic from $135.00 to $110.00 and set an “outperform” rating for the company in a research report on Friday, August 30th. Oppenheimer dropped their price target on shares of Elastic from $150.00 to $125.00 and set an “outperform” rating for the company in a research report on Friday, August 30th. TD Cowen decreased their price objective on shares of Elastic from $110.00 to $80.00 and set a “hold” rating on the stock in a research report on Friday, August 30th. DA Davidson cut their target price on Elastic from $100.00 to $75.00 and set a “neutral” rating on the stock in a research note on Friday, August 30th. Finally, Barclays raised Elastic from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $90.00 to $95.00 in a research report on Monday, October 7th.

Insider Activity at Elastic

In other Elastic news, insider Carolyn Herzog sold 4,489 shares of Elastic stock in a transaction on Monday, September 9th. The stock was sold at an average price of $70.25, for a total value 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. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Paul R. Auvil III bought 20,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were bought at an average price of $74.25 per share, for a total transaction 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 $1,680,054.75. This trade represents a 700.00 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Carolyn Herzog sold 4,489 shares of the business’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $70.25, for a total transaction of $315,352.25. Following the sale, the insider now owns 102,959 shares of the company’s stock, valued at approximately $7,232,869.75. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 37,406 shares of company stock valued at $2,627,772. 15.90% of the stock is owned by corporate insiders.

Institutional Trading of Elastic

Several large investors have recently modified their holdings of the company. 1832 Asset Management L.P. bought a new stake in shares of Elastic during the 2nd quarter valued at about $248,335,000. FMR LLC grew its position in Elastic by 25.6% during the third 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 during the period. Assenagon Asset Management S.A. purchased a new stake in Elastic during the second quarter valued at approximately $102,169,000. Federated Hermes Inc. raised its position in Elastic by 32,630.2% in the second quarter. Federated Hermes Inc. now owns 615,655 shares of the company’s stock worth $70,129,000 after acquiring an additional 613,774 shares during the period. Finally, Thematics Asset Management boosted its stake in shares of Elastic by 463.3% during the 3rd quarter. Thematics Asset Management now owns 444,012 shares of the company’s stock worth $34,082,000 after acquiring an additional 365,192 shares during the last quarter. Institutional investors own 97.03% of the company’s stock.

Elastic Trading Up 0.4 %

Shares of ESTC opened at $90.12 on Thursday. Elastic has a fifty-two week low of $69.00 and a fifty-two week high of $136.06. The firm has a market cap of $9.26 billion, a price-to-earnings ratio of 163.85 and a beta of 0.94. The firm has a 50 day moving average price of $79.15 and a 200-day moving average price of $97.65. 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 data on Thursday, August 29th. The company reported $0.35 EPS for the quarter, topping the consensus estimate of $0.25 by $0.10. Elastic had a negative return on equity of 17.54% and a net margin of 4.62%. The firm had revenue of $347.42 million for the quarter, compared to the consensus estimate of $344.67 million. During the same quarter in the previous year, the business earned ($0.35) earnings per share. The company’s quarterly revenue was up 18.3% on a year-over-year basis. As a group, equities research analysts forecast that Elastic will post -0.92 earnings per share for the current 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.