Analysts Set Elastic (NYSE:ESTC) Price Target at $126.50

Shares of Elastic (NYSE:ESTC - Get Free Report) have been assigned a consensus recommendation of "Moderate Buy" from the twenty-five research firms that are covering the company, Marketbeat.com reports. Six research analysts have rated the stock with a hold recommendation, eighteen have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price objective among analysts that have covered the stock in the last year is $126.50.

A number of equities research analysts have recently commented on ESTC shares. Needham & Company LLC reaffirmed a "hold" rating on shares of Elastic in a research note on Friday, November 22nd. Baird R W raised shares of Elastic from a "hold" rating to a "strong-buy" rating in a research report on Friday, November 22nd. Guggenheim lifted their price objective on Elastic from $100.00 to $120.00 and gave the stock a "buy" rating in a research report on Friday, November 22nd. JPMorgan Chase & Co. boosted their price objective on Elastic from $100.00 to $130.00 and gave the company an "overweight" rating in a research note on Friday, November 22nd. Finally, Barclays raised their target price on Elastic from $105.00 to $138.00 and gave the stock an "overweight" rating in a research note on Monday, November 25th.

Elastic Trading Down 2.0 %

Shares of Elastic stock traded down $2.10 during midday trading on Friday, reaching $101.52. The company had a trading volume of 721,234 shares, compared to its average volume of 1,341,885. The stock has a fifty day moving average price of $95.89 and a 200 day moving average price of $97.27. Elastic has a fifty-two week low of $69.00 and a fifty-two week high of $136.06. The firm has a market cap of $10.52 billion, a PE ratio of 184.58 and a beta of 1.02. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.99 and a quick ratio of 1.99.

Insider Buying and Selling

In related news, insider Carolyn Herzog sold 11,145 shares of the stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $111.34, for a total transaction of $1,240,884.30. Following the completion of the sale, the insider now directly owns 92,011 shares of the company's stock, valued at approximately $10,244,504.74. This trade represents a 10.80 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Ashutosh Kulkarni sold 7,017 shares of Elastic stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $108.12, for a total value of $758,678.04. Following the sale, the chief executive officer now owns 395,326 shares in the company, valued at $42,742,647.12. This trade represents a 1.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 168,162 shares of company stock worth $18,637,562. 15.90% of the stock is owned by corporate insiders.

Institutional Trading of Elastic

Several hedge funds have recently added to or reduced their stakes in ESTC. Signaturefd LLC grew its stake in shares of Elastic by 44.1% during the 2nd quarter. Signaturefd LLC now owns 389 shares of the company's stock worth $44,000 after acquiring an additional 119 shares during the period. M&T Bank Corp increased its stake in shares of Elastic by 3.1% in the third quarter. M&T Bank Corp now owns 4,652 shares of the company's stock worth $357,000 after purchasing an additional 139 shares in the last quarter. QRG Capital Management Inc. raised its position in shares of Elastic by 7.0% in 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. lifted its stake in shares of Elastic by 3.3% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 6,810 shares of the company's stock valued at $523,000 after buying an additional 219 shares in the last quarter. Finally, Headlands Technologies LLC boosted its holdings in Elastic by 75.4% in the 2nd quarter. Headlands Technologies LLC now owns 628 shares of the company's stock worth $72,000 after buying an additional 270 shares during the period. Institutional investors own 97.03% of the company's stock.

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.