Elastic (NYSE:ESTC) Price Target Raised to $105.00 at Barclays

Elastic (NYSE:ESTC - Free Report) had its target price upped by Barclays from $95.00 to $105.00 in a research note published on Friday,Benzinga reports. They currently have an overweight rating on the stock.

Several other analysts also recently commented on ESTC. Stifel Nicolaus dropped their price objective on shares of Elastic from $120.00 to $98.00 and set a "buy" rating on the stock in a report on Friday, August 30th. Baird R W downgraded shares of Elastic from a "strong-buy" rating to a "hold" rating in a report on Friday, August 30th. Scotiabank decreased their price objective on shares of Elastic from $135.00 to $92.00 and set a "sector outperform" rating on the stock in a report on Friday, August 30th. Royal Bank of Canada decreased their price target on shares of Elastic from $135.00 to $110.00 and set an "outperform" rating on the stock in a research note on Friday, August 30th. Finally, Guggenheim started coverage on shares of Elastic in a research note on Wednesday, September 11th. They issued a "buy" rating and a $100.00 price target on the stock. Eight equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to MarketBeat, Elastic currently has an average rating of "Moderate Buy" and an average price target of $104.19.

Elastic Stock Down 3.2 %

Shares of NYSE ESTC traded down $2.87 during trading hours on Friday, hitting $86.36. 1,776,200 shares of the stock were exchanged, compared to its average volume of 1,274,618. The company has a quick ratio of 1.91, a current ratio of 1.91 and a debt-to-equity ratio of 0.75. The company has a market cap of $8.87 billion, a PE ratio of 157.02 and a beta of 0.94. The firm has a fifty day moving average price of $79.81 and a 200-day moving average price of $97.47. Elastic has a 12 month low of $69.00 and a 12 month high of $136.06.

Elastic (NYSE:ESTC - Get Free Report) last issued its quarterly earnings results on Thursday, August 29th. The company reported $0.35 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.25 by $0.10. Elastic had a net margin of 4.62% and a negative return on equity of 17.54%. The business had revenue of $347.42 million for the quarter, compared to analyst estimates of $344.67 million. During the same quarter in the prior year, the business posted ($0.35) EPS. Elastic's revenue for the quarter was up 18.3% compared to the same quarter last year. On average, sell-side analysts expect that Elastic will post -0.92 EPS for the current year.

Insiders Place Their Bets

In other news, CFO Janesh Moorjani sold 6,941 shares of the business's stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $70.25, for a total transaction of $487,605.25. Following the completion of the sale, the chief financial officer now owns 195,550 shares in the company, valued at approximately $13,737,387.50. The trade was a 3.43 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CTO Shay Banon sold 2,666 shares of the business's stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $70.25, for a total transaction of $187,286.50. Following the sale, the chief technology officer now owns 4,543,190 shares of the company's stock, valued at $319,159,097.50. This represents a 0.06 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 37,406 shares of company stock worth $2,627,772 in the last 90 days. Corporate insiders own 15.90% of the company's stock.

Hedge Funds Weigh In On Elastic

A number of large investors have recently bought and sold shares of the company. Asset Dedication LLC grew its stake in Elastic by 1,333.3% in the 2nd quarter. Asset Dedication LLC now owns 301 shares of the company's stock valued at $34,000 after acquiring an additional 280 shares during the last quarter. AlphaCentric Advisors LLC acquired a new stake in Elastic in the 2nd quarter valued at about $40,000. Quarry LP purchased a new position in Elastic in the 2nd quarter valued at about $40,000. Lynx Investment Advisory purchased a new position in Elastic in the 2nd quarter valued at about $43,000. Finally, Signaturefd LLC lifted its holdings in Elastic by 44.1% in the 2nd quarter. Signaturefd LLC now owns 389 shares of the company's stock valued at $44,000 after purchasing an additional 119 shares in the last quarter. 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.