Elastic (NYSE:ESTC) Given Average Recommendation of “Moderate Buy” by Brokerages

Elastic (NYSE:ESTC) has received an average recommendation of “Moderate Buy” from the twenty-one analysts that are presently covering the firm, MarketBeat reports. Seven research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $111.26.

A number of equities analysts recently commented on ESTC shares. Oppenheimer upped their target price on Elastic from $110.00 to $130.00 and gave the company an “outperform” rating in a report on Friday, March 1st. The Goldman Sachs Group lifted their price objective on Elastic from $93.00 to $106.00 and gave the stock a “neutral” rating in a report on Friday, March 1st. TheStreet raised Elastic from a “d+” rating to a “c-” rating in a research report on Wednesday, February 7th. Stifel Nicolaus lifted their price objective on Elastic from $99.00 to $130.00 and gave the company a “buy” rating in a research report on Friday, March 1st. Finally, Rosenblatt Securities boosted their price target on Elastic from $105.00 to $136.00 and gave the stock a “buy” rating in a report on Friday, March 1st.

Elastic Stock Performance

Shares of ESTC stock opened at $100.24 on Wednesday. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.87 and a current ratio of 1.87. Elastic has a fifty-two week low of $52.30 and a fifty-two week high of $136.06. The stock has a 50 day moving average price of $116.39 and a two-hundred day moving average price of $100.14. The company has a market capitalization of $10.10 billion, a P/E ratio of 217.91 and a beta of 0.97.

Elastic (NYSE:ESTC) last announced its earnings results on Thursday, February 29th. The company reported ($0.27) EPS for the quarter, beating analysts’ consensus estimates of ($0.28) by $0.01. The company had revenue of $327.96 million during the quarter, compared to the consensus estimate of $320.48 million. Elastic had a negative return on equity of 23.94% and a net margin of 4.63%. Analysts expect that Elastic will post -1.13 earnings per share for the current year.

Insiders Place Their Bets

In related news, CFO Janesh Moorjani sold 5,515 shares of the company’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $103.28, for a total transaction of $569,589.20. Following the completion of the sale, the chief financial officer now directly owns 156,797 shares in the company, valued at approximately $16,193,994.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, CFO Janesh Moorjani sold 5,515 shares of the company’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $103.28, for a total transaction of $569,589.20. Following the transaction, the chief financial officer now directly owns 156,797 shares of the company’s stock, valued at approximately $16,193,994.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CTO Shay Banon sold 1,322 shares of the company’s stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $106.23, for a total value of $140,436.06. Following the transaction, the chief technology officer now directly owns 4,518,714 shares in the company, valued at $480,022,988.22. The disclosure for this sale can be found here. In the last ninety days, insiders sold 962,440 shares of company stock worth $94,535,764. 18.10% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its position in Elastic by 4.6% during the 3rd quarter. Vanguard Group Inc. now owns 8,573,534 shares of the company’s stock valued at $696,514,000 after buying an additional 380,694 shares in the last quarter. UBS Group AG increased its holdings in shares of Elastic by 28.0% in the third quarter. UBS Group AG now owns 56,805 shares of the company’s stock valued at $4,615,000 after purchasing an additional 12,430 shares during the period. Northern Trust Corp increased its holdings in shares of Elastic by 3.8% in the third quarter. Northern Trust Corp now owns 372,712 shares of the company’s stock valued at $30,279,000 after purchasing an additional 13,587 shares during the period. M&T Bank Corp acquired a new position in shares of Elastic in the third quarter valued at about $230,000. Finally, Rhumbline Advisers increased its holdings in shares of Elastic by 4.5% in the third quarter. Rhumbline Advisers now owns 101,866 shares of the company’s stock valued at $8,276,000 after purchasing an additional 4,412 shares during the period. 97.03% of the stock is owned by institutional investors and hedge funds.

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.