Elastic (NYSE:ESTC - Free Report) had its price objective reduced by Jefferies Financial Group from $125.00 to $110.00 in a research note released on Monday,Benzinga reports. Jefferies Financial Group currently has a buy rating on the stock.
ESTC has been the subject of a number of other research reports. Guggenheim boosted their price target on Elastic from $130.00 to $136.00 and gave the company a "buy" rating in a research note on Friday, February 28th. Wedbush downgraded shares of Elastic from a "strong-buy" rating to a "hold" rating in a report on Wednesday, December 18th. Canaccord Genuity Group increased their price target on shares of Elastic from $130.00 to $135.00 and gave the stock a "buy" rating in a research report on Friday, February 28th. Wells Fargo & Company boosted their price objective on shares of Elastic from $135.00 to $150.00 and gave the company an "overweight" rating in a research report on Friday, February 28th. Finally, Piper Sandler raised their target price on Elastic from $130.00 to $135.00 and gave the company an "overweight" rating in a report on Friday, February 28th. Seven research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $130.09.
Check Out Our Latest Stock Report on Elastic
Elastic Stock Performance
ESTC stock traded up $0.92 during trading hours on Monday, hitting $79.70. 1,261,740 shares of the stock were exchanged, compared to its average volume of 1,360,332. Elastic has a 12 month low of $69.00 and a 12 month high of $123.96. The company has a current ratio of 1.99, a quick ratio of 1.99 and a debt-to-equity ratio of 0.70. The firm has a market capitalization of $8.32 billion, a P/E ratio of 144.90 and a beta of 1.19. The company has a 50-day simple moving average of $98.83 and a two-hundred day simple moving average of $96.44.
Elastic (NYSE:ESTC - Get Free Report) last released its quarterly earnings results on Thursday, February 27th. The company reported ($0.01) EPS for the quarter, missing analysts' consensus estimates of $0.47 by ($0.48). The business had revenue of $382.08 million for the quarter, compared to the consensus estimate of $368.85 million. Elastic had a negative return on equity of 13.20% and a net margin of 4.39%. On average, analysts forecast that Elastic will post -0.77 earnings per share for the current fiscal year.
Insider Buying and Selling at Elastic
In other Elastic news, CRO Mark Eugene Dodds sold 2,755 shares of the firm's stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $90.77, for a total value of $250,071.35. Following the completion of the transaction, the executive now owns 96,484 shares in the company, valued at $8,757,852.68. This trade represents a 2.78 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Ashutosh Kulkarni sold 18,735 shares of the stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $90.77, for a total transaction of $1,700,575.95. Following the completion of the sale, the chief executive officer now directly owns 376,591 shares in the company, valued at approximately $34,183,165.07. The trade was a 4.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 198,304 shares of company stock valued at $20,847,452. Company insiders own 15.90% of the company's stock.
Institutional Trading of Elastic
A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Sylebra Capital LLC boosted its holdings in Elastic by 62.6% in the 4th quarter. Sylebra Capital LLC now owns 4,561,462 shares of the company's stock valued at $451,950,000 after purchasing an additional 1,756,842 shares during the period. Norges Bank bought a new stake in Elastic during the fourth quarter valued at $102,485,000. Arrowstreet Capital Limited Partnership grew its position in Elastic by 5,972.4% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 744,358 shares of the company's stock worth $73,751,000 after buying an additional 732,100 shares in the last quarter. Marshall Wace LLP increased its stake in Elastic by 554.9% in the 4th quarter. Marshall Wace LLP now owns 641,041 shares of the company's stock worth $63,514,000 after acquiring an additional 543,155 shares during the last quarter. Finally, Fuller & Thaler Asset Management Inc. bought a new stake in shares of Elastic during the 4th quarter valued at about $46,031,000. Institutional investors own 97.03% of the company's stock.
About Elastic
(
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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.
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