Elastic (NYSE:ESTC) Trading Up 6.1%

Elastic (NYSE:ESTCGet Rating)’s share price traded up 6.1% during mid-day trading on Friday . The stock traded as high as $54.08 and last traded at $53.95. 15,313 shares changed hands during mid-day trading, a decline of 99% from the average session volume of 1,251,511 shares. The stock had previously closed at $50.85.

Analyst Ratings Changes

ESTC has been the subject of several research analyst reports. Royal Bank of Canada cut their target price on shares of Elastic from $100.00 to $85.00 and set an “outperform” rating for the company in a research note on Monday, November 28th. Canaccord Genuity Group decreased their target price on Elastic from $100.00 to $82.00 in a research report on Thursday, December 1st. Truist Financial cut their price target on Elastic from $85.00 to $75.00 in a report on Monday, January 9th. Oppenheimer decreased their price objective on Elastic from $90.00 to $80.00 and set an “outperform” rating on the stock in a report on Tuesday, January 3rd. Finally, Wedbush started coverage on Elastic in a research note on Wednesday, December 14th. They issued a “neutral” rating and a $67.00 target price for the company. One analyst has rated the stock with a sell rating, three have assigned a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $83.73.

Elastic Stock Up 8.4 %

The firm has a market cap of $5.27 billion, a price-to-earnings ratio of -21.62 and a beta of 1.07. The business’s 50-day moving average is $54.58 and its 200-day moving average is $67.67. The company has a debt-to-equity ratio of 1.45, a quick ratio of 1.91 and a current ratio of 1.91.

Elastic (NYSE:ESTCGet Rating) last posted its quarterly earnings data on Wednesday, November 30th. The company reported ($0.50) earnings per share for the quarter, topping the consensus estimate of ($0.60) by $0.10. The company had revenue of $264.40 million during the quarter, compared to analyst estimates of $261.25 million. Elastic had a negative net margin of 24.46% and a negative return on equity of 53.77%. On average, equities analysts predict that Elastic will post -1.91 EPS for the current year.

Insiders Place Their Bets

In other Elastic news, insider Carolyn Herzog sold 1,324 shares of the business’s stock in a transaction dated Friday, December 9th. The shares were sold at an average price of $53.60, for a total value of $70,966.40. Following the completion of the transaction, the insider now directly owns 90,148 shares of the company’s stock, valued at $4,831,932.80. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Elastic news, insider Carolyn Herzog sold 1,324 shares of the company’s stock in a transaction on Friday, December 9th. The shares were sold at an average price of $53.60, for a total transaction of $70,966.40. Following the completion of the sale, the insider now owns 90,148 shares in the company, valued at approximately $4,831,932.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Jonathan Chadwick sold 6,250 shares of the firm’s stock in a transaction on Thursday, October 27th. The stock was sold at an average price of $65.26, for a total value of $407,875.00. Following the completion of the transaction, the director now owns 7,729 shares in the company, valued at $504,394.54. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 17,194 shares of company stock valued at $994,473. 18.80% of the stock is currently owned by corporate insiders.

Institutional Trading of Elastic

Hedge funds have recently modified their holdings of the company. Allworth Financial LP raised its holdings in Elastic by 94.4% in the third quarter. Allworth Financial LP now owns 383 shares of the company’s stock worth $27,000 after purchasing an additional 186 shares during the period. Quadrant Capital Group LLC increased its position in shares of Elastic by 79.8% in the 2nd quarter. Quadrant Capital Group LLC now owns 446 shares of the company’s stock valued at $30,000 after buying an additional 198 shares in the last quarter. Altshuler Shaham Ltd acquired a new stake in Elastic during the 3rd quarter worth $43,000. Wipfli Financial Advisors LLC acquired a new stake in Elastic during the 3rd quarter worth $47,000. Finally, CWM LLC lifted its holdings in Elastic by 88.0% during the second quarter. CWM LLC now owns 1,130 shares of the company’s stock worth $76,000 after acquiring an additional 529 shares in the last quarter. 78.40% of the stock is currently owned by institutional investors and hedge funds.

Elastic Company Profile

(Get Rating)

Elastic NV engages in the provision of open-source search and analytics engine services. It offers Elastic Stack, a set of software products that ingest and store data from various sources and formats, as well as perform search, analysis, and visualization. The firms Elastic Stack product comprises Elasticsearch, a distributed, real-time search and analytics engine, and data store for various types of data, including textual, numerical, geospatial, structured, and unstructured, Kibana, a user interface, management, and configuration interface for the Elastic Stack, Beats, a single-purpose data shippers for sending data from edge machines to Elasticsearch or Logstash, and Logstash, a data processing pipeline for ingesting data into Elasticsearch or other storage systems.

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