Elastic’s (ESTC) Buy Rating Reiterated at Guggenheim

Guggenheim restated their buy rating on shares of Elastic (NYSE:ESTC) in a research report sent to investors on Wednesday,Benzinga reports. The brokerage currently has a $116.00 price objective on the stock.

A number of other analysts have also commented on ESTC. Jefferies Financial Group cut their price target on Elastic from $105.00 to $95.00 and set a “buy” rating on the stock in a report on Monday, January 5th. Piper Sandler dropped their target price on Elastic from $125.00 to $110.00 and set an “overweight” rating on the stock in a research report on Friday, November 21st. Wedbush cut their target price on Elastic from $110.00 to $90.00 and set an “outperform” rating on the stock in a research note on Friday, November 21st. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Elastic in a research report on Wednesday, January 21st. Finally, Rosenblatt Securities decreased their price target on shares of Elastic from $130.00 to $110.00 and set a “buy” rating for the company in a research note on Friday, January 30th. Seventeen investment analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $102.17.

Elastic Stock Performance

Shares of ESTC stock opened at $58.00 on Wednesday. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.97 and a current ratio of 1.97. Elastic has a 52 week low of $56.69 and a 52 week high of $117.49. The company’s 50 day moving average price is $70.32 and its two-hundred day moving average price is $78.53. The company has a market capitalization of $6.11 billion, a P/E ratio of -56.31, a price-to-earnings-growth ratio of 252.45 and a beta of 0.93.

Elastic (NYSE:ESTC) last issued its quarterly earnings data on Thursday, November 20th. The company reported $0.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.58 by $0.06. Elastic had a negative net margin of 6.79% and a negative return on equity of 2.02%. The company had revenue of $423.48 million during the quarter, compared to the consensus estimate of $418.27 million. During the same quarter in the prior year, the firm earned $0.59 earnings per share. The firm’s revenue was up 15.9% compared to the same quarter last year. On average, analysts expect that Elastic will post -0.77 earnings per share for the current fiscal year.

Insider Activity at Elastic

In related news, CTO Shay Banon sold 4,552 shares of the firm’s stock in a transaction dated Tuesday, December 9th. The shares were sold at an average price of $75.05, for a total value of $341,627.60. Following the completion of the sale, the chief technology officer directly owned 4,359,228 shares in the company, valued at approximately $327,160,061.40. This trade represents a 0.10% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Ken Exner sold 6,544 shares of Elastic stock in a transaction dated Tuesday, December 9th. The stock was sold at an average price of $75.05, for a total value of $491,127.20. Following the transaction, the insider owned 227,038 shares of the company’s stock, valued at $17,039,201.90. The trade was a 2.80% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 61,828 shares of company stock worth $4,641,010. Insiders own 12.70% of the company’s stock.

Institutional Trading of Elastic

Institutional investors and hedge funds have recently bought and sold shares of the business. Sound Income Strategies LLC bought a new stake in Elastic in the 4th quarter valued at $25,000. Geneos Wealth Management Inc. acquired a new stake in shares of Elastic during the second quarter worth $31,000. Huntington National Bank boosted its position in shares of Elastic by 97.5% in the second quarter. Huntington National Bank now owns 468 shares of the company’s stock valued at $39,000 after acquiring an additional 231 shares during the period. Plato Investment Management Ltd bought a new stake in shares of Elastic in the second quarter valued at about $40,000. Finally, Activest Wealth Management grew its stake in shares of Elastic by 3,181.3% in the fourth quarter. Activest Wealth Management now owns 525 shares of the company’s stock valued at $40,000 after acquiring an additional 509 shares in the last quarter. Institutional investors own 97.03% of the company’s stock.

Elastic Company Profile

Elastic N.V. operates as a search and analytics company, offering a suite of open source and subscription-based solutions for search, observability and security use cases. Its flagship product, Elasticsearch, enables fast and scalable full-text search and analytics across large volumes of structured and unstructured data. Complementary tools such as Kibana provide visualization capabilities, while Beats and Logstash serve as lightweight data shippers and data processing pipelines, respectively.

The company was founded in 2012 by Shay Banon, who serves as chief technology officer, and Steven Schuurman.