Elastic (NYSE:ESTC) Receives Average Rating of "Moderate Buy" from Analysts

Shares of Elastic (NYSE:ESTC - Get Free Report) have been given a consensus rating of "Moderate Buy" by the twenty-six brokerages that are presently covering the company, Marketbeat reports. Seven analysts have rated the stock with a hold recommendation, eighteen have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $125.35.

Several equities research analysts recently weighed in on ESTC shares. Baird R W upgraded Elastic from a "hold" rating to a "strong-buy" rating in a report on Friday, November 22nd. Morgan Stanley started coverage on shares of Elastic in a research note on Tuesday, December 17th. They issued an "overweight" rating and a $130.00 price objective for the company. Piper Sandler raised their target price on shares of Elastic from $100.00 to $130.00 and gave the company an "overweight" rating in a research note on Friday, November 22nd. Barclays boosted their target price on shares of Elastic from $105.00 to $138.00 and gave the stock an "overweight" rating in a research report on Monday, November 25th. Finally, Scotiabank lowered their price target on Elastic from $135.00 to $127.00 and set a "sector outperform" rating on the stock in a research report on Tuesday, January 21st.

Elastic Stock Up 0.0 %

NYSE:ESTC traded up $0.04 during mid-day trading on Friday, reaching $113.17. The stock had a trading volume of 251,043 shares, compared to its average volume of 1,223,227. 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 stock has a market cap of $11.73 billion, a P/E ratio of 205.82 and a beta of 1.07. The business's 50 day moving average is $105.59 and its 200 day moving average is $95.16. Elastic has a fifty-two week low of $69.00 and a fifty-two week high of $136.06.

Insider Activity

In other Elastic news, CEO Ashutosh Kulkarni sold 7,017 shares of the business's stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $108.12, for a total value of $758,678.04. Following the transaction, the chief executive officer now directly owns 395,326 shares in the company, valued at $42,742,647.12. The trade was a 1.74 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CTO Shay Banon sold 150,000 shares of the firm's stock in a transaction that occurred on Tuesday, November 26th. The stock was 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 position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 168,162 shares of company stock worth $18,637,562. Company insiders own 15.90% of the company's stock.

Institutional Investors Weigh In On Elastic

Large investors have recently bought and sold shares of the business. Geneos Wealth Management Inc. bought a new position in Elastic in the 4th quarter valued at $25,000. SBI Securities Co. Ltd. acquired a new stake in shares of Elastic in the fourth quarter valued at $25,000. Venturi Wealth Management LLC raised its holdings in shares of Elastic by 793.3% in the fourth quarter. Venturi Wealth Management LLC now owns 268 shares of the company's stock valued at $27,000 after buying an additional 238 shares during the last quarter. Smartleaf Asset Management LLC lifted its position in Elastic by 126.4% during the 4th quarter. Smartleaf Asset Management LLC now owns 283 shares of the company's stock worth $28,000 after buying an additional 158 shares in the last quarter. Finally, Global Retirement Partners LLC grew its holdings in Elastic by 1,065.2% during the 4th quarter. Global Retirement Partners LLC now owns 536 shares of the company's stock worth $53,000 after acquiring an additional 490 shares during the last quarter. 97.03% of the stock is currently owned by institutional investors.

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.