Elastic (NYSE:ESTC) Given Average Rating of "Moderate Buy" by Analysts

Elastic (NYSE:ESTC - Get Free Report) has been assigned an average rating of "Moderate Buy" from the twenty-six ratings firms that are covering the stock, MarketBeat Ratings reports. Seven research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $125.35.

A number of research firms have weighed in on ESTC. Needham & Company LLC reaffirmed a "hold" rating on shares of Elastic in a research note on Friday, November 22nd. Morgan Stanley started coverage on shares of Elastic in a research report on Tuesday, December 17th. They issued an "overweight" rating and a $130.00 price target on the stock. Canaccord Genuity Group boosted their price objective on Elastic from $110.00 to $130.00 and gave the stock a "buy" rating in a report on Friday, November 22nd. Guggenheim raised their target price on Elastic from $100.00 to $120.00 and gave the company a "buy" rating in a report on Friday, November 22nd. Finally, Cantor Fitzgerald started coverage on Elastic in a report on Friday. They set a "neutral" rating and a $108.00 price target for the company.

Insider Buying and Selling

In other Elastic news, 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 value of $758,678.04. Following the sale, the chief executive officer now directly owns 395,326 shares in the company, valued at $42,742,647.12. This represents a 1.74 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Carolyn Herzog sold 11,145 shares of the business's stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $111.34, for a total transaction of $1,240,884.30. Following the transaction, the insider now owns 92,011 shares of the company's stock, valued at $10,244,504.74. This trade represents a 10.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 168,162 shares of company stock valued at $18,637,562. Company insiders own 15.90% of the company's stock.

Hedge Funds Weigh In On Elastic

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ESTC. Geneos Wealth Management Inc. purchased a new position in shares of Elastic during the fourth quarter worth about $25,000. Quarry LP purchased a new position in Elastic in the 2nd quarter worth approximately $40,000. Eastern Bank bought a new position in shares of Elastic in the 3rd quarter worth $61,000. FNY Investment Advisers LLC raised its position in shares of Elastic by 87.3% during the 4th quarter. FNY Investment Advisers LLC now owns 749 shares of the company's stock valued at $74,000 after buying an additional 349 shares in the last quarter. Finally, Blue Trust Inc. lifted its holdings in shares of Elastic by 21.2% during the 3rd quarter. Blue Trust Inc. now owns 2,582 shares of the company's stock worth $198,000 after acquiring an additional 452 shares during the last quarter. 97.03% of the stock is currently owned by hedge funds and other institutional investors.

Elastic Stock Up 0.0 %

Shares of NYSE:ESTC traded up $0.01 during trading on Tuesday, reaching $100.40. 1,030,657 shares of the stock were exchanged, compared to its average volume of 1,175,405. Elastic has a 1-year low of $69.00 and a 1-year high of $136.06. The stock has a fifty day moving average of $101.86 and a two-hundred day moving average of $95.49. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.99 and a quick ratio of 1.99. The firm has a market cap of $10.40 billion, a price-to-earnings ratio of 182.55 and a beta of 1.06.

About Elastic

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.