Elastic (NYSE:ESTC) Receives Average Rating of “Moderate Buy” from Brokerages

Elastic (NYSE:ESTCGet Free Report) has been assigned a consensus recommendation of “Moderate Buy” from the twenty-six analysts that are covering the stock, MarketBeat Ratings reports. Seven investment analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has issued a strong buy rating on the company. The average twelve-month target price among analysts that have covered the stock in the last year is $125.70.

Several brokerages have recently weighed in on ESTC. Wells Fargo & Company lifted their price objective on Elastic from $100.00 to $135.00 and gave the stock an “overweight” rating in a report on Friday, November 22nd. Royal Bank of Canada lifted their price target on shares of Elastic from $110.00 to $130.00 and gave the stock an “outperform” rating in a research note on Friday, November 22nd. Rosenblatt Securities restated a “buy” rating and issued a $120.00 price objective on shares of Elastic in a research note on Wednesday, November 20th. Bank of America lifted their target price on shares of Elastic from $94.00 to $120.00 and gave the company a “neutral” rating in a research report on Friday, November 22nd. Finally, Oppenheimer increased their price target on shares of Elastic from $125.00 to $140.00 and gave the stock an “outperform” rating in a research report on Friday, November 22nd.

Check Out Our Latest Stock Report on ESTC

Insider Transactions at Elastic

In other news, CTO Shay Banon sold 150,000 shares of Elastic stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $110.92, for a total transaction of $16,638,000.00. Following the completion of the sale, the chief technology officer now owns 2,604,978 shares in the company, valued at $288,944,159.76. The trade was a 5.44 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Ashutosh Kulkarni sold 7,017 shares of the stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $108.12, for a total transaction of $758,678.04. Following the completion of the transaction, the chief executive officer now owns 395,326 shares in the company, valued at $42,742,647.12. This represents a 1.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 168,162 shares of company stock worth $18,637,562. Corporate insiders own 15.90% of the company’s stock.

Institutional Trading of Elastic

Several institutional investors and hedge funds have recently made changes to their positions in the business. M&T Bank Corp grew its position in shares of Elastic by 3.1% during the 3rd quarter. M&T Bank Corp now owns 4,652 shares of the company’s stock worth $357,000 after buying an additional 139 shares during the period. QRG Capital Management Inc. grew its holdings in Elastic by 7.0% during the third quarter. QRG Capital Management Inc. now owns 3,063 shares of the company’s stock valued at $235,000 after purchasing an additional 201 shares during the period. Oppenheimer & Co. Inc. increased its stake in Elastic by 3.3% in the third quarter. Oppenheimer & Co. Inc. now owns 6,810 shares of the company’s stock valued at $523,000 after purchasing an additional 219 shares in the last quarter. Y Intercept Hong Kong Ltd raised its holdings in Elastic by 12.5% in the third quarter. Y Intercept Hong Kong Ltd now owns 2,985 shares of the company’s stock worth $229,000 after purchasing an additional 332 shares during the period. Finally, FNY Investment Advisers LLC boosted its position in shares of Elastic by 87.3% during the fourth quarter. FNY Investment Advisers LLC now owns 749 shares of the company’s stock worth $74,000 after purchasing an additional 349 shares in the last quarter. Institutional investors own 97.03% of the company’s stock.

Elastic Stock Up 0.5 %

ESTC stock opened at $100.49 on Tuesday. Elastic has a twelve month low of $69.00 and a twelve month high of $136.06. The company has a quick ratio of 1.99, a current ratio of 1.99 and a debt-to-equity ratio of 0.70. The company has a market cap of $10.41 billion, a PE ratio of 182.70 and a beta of 1.06. The business’s 50-day simple moving average is $101.86 and its 200 day simple moving average is $95.49.

About Elastic

(Get Free Report

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.

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Analyst Recommendations for Elastic (NYSE:ESTC)

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