Brokerages Set Elastic (NYSE:ESTC) Price Target at $111.26

Shares of Elastic (NYSE:ESTC) have received a consensus rating of “Moderate Buy” from the twenty-two research firms that are covering the firm, MarketBeat.com reports. Seven equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $112.45.

Several research analysts have recently issued reports on ESTC shares. TheStreet raised Elastic from a “d+” rating to a “c-” rating in a research report on Wednesday, February 7th. Truist Financial increased their target price on Elastic from $130.00 to $140.00 and gave the stock a “buy” rating in a research report on Tuesday, February 20th. Rosenblatt Securities increased their target price on Elastic from $105.00 to $136.00 and gave the stock a “buy” rating in a research report on Friday, March 1st. The Goldman Sachs Group upped their price target on Elastic from $93.00 to $106.00 and gave the stock a “neutral” rating in a research note on Friday, March 1st. Finally, Royal Bank of Canada upped their price target on Elastic from $134.00 to $147.00 and gave the stock an “overweight” rating in a research note on Monday, March 4th.

Elastic Trading Down 1.4 %

ESTC opened at $107.86 on Thursday. The business has a 50 day simple moving average of $102.44 and a two-hundred day simple moving average of $106.47. The firm has a market capitalization of $10.87 billion, a price-to-earnings ratio of 234.48 and a beta of 0.92. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.87 and a quick ratio of 1.87. Elastic has a one year low of $57.38 and a one year high of $136.06.

Elastic (NYSE:ESTC) last released its quarterly 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 business had revenue of $327.96 million during the quarter, compared to analyst estimates of $320.48 million. Elastic had a negative return on equity of 23.94% and a net margin of 4.63%. Analysts predict that Elastic will post -1.13 EPS for the current year.

Insider Buying and Selling at Elastic

In other Elastic news, Director Steven Schuurman sold 815,000 shares of the firm’s stock in a transaction dated Tuesday, March 26th. The stock was sold at an average price of $97.54, for a total transaction of $79,495,100.00. Following the sale, the director now directly owns 8,382,000 shares of the company’s stock, valued at $817,580,280. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, CTO Shay Banon sold 1,322 shares of the firm’s stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $106.23, for a total transaction of $140,436.06. Following the completion of the transaction, the chief technology officer now owns 4,518,714 shares in the company, valued at $480,022,988.22. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Steven Schuurman sold 815,000 shares of the firm’s stock in a transaction dated Tuesday, March 26th. The shares were sold at an average price of $97.54, for a total value of $79,495,100.00. Following the transaction, the director now owns 8,382,000 shares of the company’s stock, valued at approximately $817,580,280. The disclosure for this sale can be found here. Insiders have sold a total of 962,440 shares of company stock valued at $94,535,764 over the last ninety days. 18.10% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in ESTC. Rakuten Securities Inc. purchased a new position in Elastic in the fourth quarter worth about $25,000. Covestor Ltd grew its position in Elastic by 168.3% in the third quarter. Covestor Ltd now owns 448 shares of the company’s stock worth $36,000 after acquiring an additional 281 shares in the last quarter. GAMMA Investing LLC purchased a new position in Elastic in the fourth quarter worth about $39,000. Cypress Capital Management LLC WY purchased a new position in Elastic in the fourth quarter worth about $45,000. Finally, Allspring Global Investments Holdings LLC purchased a new position in Elastic in the first quarter worth about $64,000. Hedge funds and other institutional investors own 97.03% of the company’s stock.

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.