Elastic (NYSE:ESTC) Upgraded to Hold at Cantor Fitzgerald

Cantor Fitzgerald upgraded shares of Elastic (NYSE:ESTC - Free Report) to a hold rating in a research report sent to investors on Thursday, MarketBeat Ratings reports. Cantor Fitzgerald currently has $108.00 price target on the stock.

Other research analysts have also recently issued research reports about the company. Guggenheim raised their price target on Elastic from $100.00 to $120.00 and gave the company a "buy" rating in a research report on Friday, November 22nd. William Blair upgraded shares of Elastic from a "market perform" rating to an "outperform" rating in a research report on Monday, October 14th. Oppenheimer increased their price target on shares of Elastic from $125.00 to $140.00 and gave the company an "outperform" rating in a research report on Friday, November 22nd. Scotiabank upped their price objective on Elastic from $92.00 to $135.00 and gave the company a "sector outperform" rating in a research report on Friday, November 22nd. Finally, Truist Financial lifted their price objective on Elastic from $105.00 to $135.00 and gave the stock a "buy" rating in a research report on Friday, November 22nd. Seven investment analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Elastic presently has a consensus rating of "Moderate Buy" and an average price target of $125.70.

Elastic Price Performance

Shares of ESTC traded up $0.52 on Thursday, reaching $100.49. The stock had a trading volume of 1,125,920 shares, compared to its average volume of 976,284. Elastic has a twelve month low of $69.00 and a twelve month high of $136.06. The firm has a market capitalization of $10.41 billion, a PE ratio of 182.70 and a beta of 1.06. The firm has a 50-day moving average of $101.65 and a 200 day moving average of $95.74. The company has a quick ratio of 1.99, a current ratio of 1.99 and a debt-to-equity ratio of 0.70.

Insider Transactions at Elastic

In other news, CEO Ashutosh Kulkarni sold 7,017 shares of the business's stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $108.12, for a total transaction of $758,678.04. Following the transaction, the chief executive officer now directly owns 395,326 shares of the company's stock, valued at approximately $42,742,647.12. The trade was a 1.74 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CTO Shay Banon sold 150,000 shares of the firm's stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $110.92, for a total transaction of $16,638,000.00. Following the sale, the chief technology officer now directly owns 2,604,978 shares of the company's stock, valued at approximately $288,944,159.76. The trade was a 5.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 168,162 shares of company stock valued at $18,637,562 over the last 90 days. Corporate insiders own 15.90% of the company's stock.

Hedge Funds Weigh In On Elastic

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. M&T Bank Corp lifted 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 acquiring an additional 139 shares in the last quarter. QRG Capital Management Inc. increased its holdings in Elastic by 7.0% during the 3rd quarter. QRG Capital Management Inc. now owns 3,063 shares of the company's stock worth $235,000 after purchasing an additional 201 shares during the last quarter. Oppenheimer & Co. Inc. raised its position in shares of Elastic by 3.3% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 6,810 shares of the company's stock valued at $523,000 after purchasing an additional 219 shares in the last quarter. Y Intercept Hong Kong Ltd boosted its stake in shares of Elastic by 12.5% during the 3rd quarter. Y Intercept Hong Kong Ltd now owns 2,985 shares of the company's stock valued at $229,000 after buying an additional 332 shares during the last quarter. Finally, FNY Investment Advisers LLC grew its position in shares of Elastic by 87.3% during the fourth quarter. FNY Investment Advisers LLC now owns 749 shares of the company's stock worth $74,000 after buying an additional 349 shares in the last quarter. 97.03% of the stock is owned by hedge funds and other institutional investors.

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.