Elastic (NYSE:ESTC) Given Average Recommendation of “Moderate Buy” by Analysts – MarketBeat

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Elastic (NYSE:ESTCGet Rating) has been given a consensus rating of “Moderate Buy” by the seventeen analysts that are currently covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, three have given a hold rating and ten have assigned a buy rating to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $114.54.

Several equities research analysts have recently weighed in on the company. Citigroup increased their price objective on Elastic from $125.00 to $150.00 and gave the company a “buy” rating in a research report on Monday, August 22nd. Piper Sandler raised their target price on Elastic from $85.00 to $95.00 and gave the stock an “overweight” rating in a research report on Friday, August 26th. Monness Crespi & Hardt cut Elastic from a “buy” rating to a “neutral” rating in a research report on Thursday, August 11th. Wells Fargo & Company started coverage on Elastic in a research report on Tuesday, October 11th. They issued an “underweight” rating and a $73.00 target price for the company. Finally, Barclays reduced their target price on Elastic from $105.00 to $85.00 and set an “overweight” rating for the company in a research report on Tuesday, October 18th.

Elastic Stock Up 6.0 %

ESTC opened at $66.81 on Friday. Elastic has a 1-year low of $50.33 and a 1-year high of $189.84. The company has a current ratio of 1.96, a quick ratio of 1.96 and a debt-to-equity ratio of 1.44. The stock has a market capitalization of $6.35 billion, a price-to-earnings ratio of -26.10 and a beta of 1.05. The business has a 50 day moving average of $69.93 and a 200-day moving average of $72.09.

Elastic (NYSE:ESTCGet Rating) last posted its quarterly earnings data on Thursday, August 25th. The company reported ($0.67) earnings per share for the quarter, missing the consensus estimate of ($0.57) by ($0.10). Elastic had a negative net margin of 25.99% and a negative return on equity of 48.44%. The business had revenue of $250.08 million during the quarter, compared to the consensus estimate of $245.78 million. As a group, sell-side analysts anticipate that Elastic will post -2.29 earnings per share for the current year.

Insider Buying and Selling at Elastic

In other news, CEO Ashutosh Kulkarni sold 7,512 shares of the firm’s stock in a transaction on Friday, September 9th. The stock was sold at an average price of $88.55, for a total value of $665,187.60. Following the completion of the sale, the chief executive officer now directly owns 126,110 shares in the company, valued at $11,167,040.50. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other news, CEO Ashutosh Kulkarni sold 7,512 shares of the firm’s stock in a transaction on Friday, September 9th. The stock was sold at an average price of $88.55, for a total value of $665,187.60. Following the completion of the sale, the chief executive officer now directly owns 126,110 shares in the company, valued at $11,167,040.50. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Jonathan Chadwick sold 6,250 shares of the firm’s stock in a transaction on Thursday, October 27th. The shares were sold at an average price of $65.26, for a total value of $407,875.00. Following the completion of the sale, the director now owns 7,729 shares of the company’s stock, valued at $504,394.54. The disclosure for this sale can be found here. Over the last three months, insiders sold 17,043 shares of company stock valued at $1,363,595. 18.80% of the stock is currently owned by company insiders.

Institutional Trading of Elastic

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Advisors Asset Management Inc. increased its position in Elastic by 10.0% in the second quarter. Advisors Asset Management Inc. now owns 1,669 shares of the company’s stock worth $113,000 after purchasing an additional 152 shares during the period. Allworth Financial LP increased its position 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 Elastic by 79.8% in the second quarter. Quadrant Capital Group LLC now owns 446 shares of the company’s stock worth $30,000 after purchasing an additional 198 shares during the period. Scotia Capital Inc. increased its position in Elastic by 0.4% in the second quarter. Scotia Capital Inc. now owns 54,873 shares of the company’s stock worth $3,713,000 after purchasing an additional 202 shares during the period. Finally, Xponance Inc. grew its position in shares of Elastic by 2.3% during the 3rd quarter. Xponance Inc. now owns 9,178 shares of the company’s stock worth $658,000 after buying an additional 204 shares during the period. 74.31% of the stock is currently owned by institutional investors and hedge funds.

About Elastic

(Get Rating)

Elastic N.V., a search company, delivers technology 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 perform search, analysis, and visualization.

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