Brokerages Set Elastic (NYSE:ESTC) Target Price at $103.71

Elastic (NYSE:ESTC - Get Free Report) has been assigned an average recommendation of "Moderate Buy" from the twenty-four analysts that are presently covering the firm, MarketBeat Ratings reports. Eight investment analysts have rated the stock with a hold recommendation and sixteen have assigned a buy recommendation to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $103.71.

ESTC has been the subject of a number of recent research reports. Guggenheim started coverage on Elastic in a research report on Wednesday, September 11th. They set a "buy" rating and a $100.00 price target for the company. Bank of America lowered Elastic from a "buy" rating to a "neutral" rating and reduced their target price for the stock from $140.00 to $94.00 in a research note on Friday, August 30th. Truist Financial lowered their target price on shares of Elastic from $140.00 to $105.00 and set a "buy" rating for the company in a research note on Friday, August 30th. DA Davidson dropped their price target on shares of Elastic from $100.00 to $75.00 and set a "neutral" rating on the stock in a research note on Friday, August 30th. Finally, William Blair raised shares of Elastic from a "market perform" rating to an "outperform" rating in a research report on Monday, October 14th.

Insider Buying and Selling at Elastic

In other Elastic news, CEO Ashutosh Kulkarni sold 19,649 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 value of $1,380,342.25. Following the completion of the sale, the chief executive officer now directly owns 432,648 shares of the company's stock, valued at $30,393,522. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, insider Carolyn Herzog sold 4,489 shares of the business's stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $70.25, for a total transaction of $315,352.25. Following the sale, the insider now owns 102,959 shares of the company's stock, valued at $7,232,869.75. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Ashutosh Kulkarni sold 19,649 shares of the stock in a transaction on Monday, September 9th. The shares were sold at an average price of $70.25, for a total transaction of $1,380,342.25. Following the transaction, the chief executive officer now owns 432,648 shares of the company's stock, valued at $30,393,522. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 37,406 shares of company stock valued at $2,627,772 over the last quarter. Corporate insiders own 15.90% of the company's stock.

Institutional Trading of Elastic

A number of large investors have recently made changes to their positions in ESTC. Asset Dedication LLC raised its position 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 purchasing an additional 280 shares during the last quarter. AlphaCentric Advisors LLC bought a new position in shares of Elastic during the 2nd quarter worth approximately $40,000. Quarry LP purchased a new position in shares of Elastic during the 2nd quarter valued at $40,000. Lynx Investment Advisory purchased a new stake in Elastic during the second quarter valued at about $43,000. Finally, Signaturefd LLC lifted its holdings in Elastic by 44.1% in the second quarter. Signaturefd LLC now owns 389 shares of the company's stock worth $44,000 after buying an additional 119 shares during the period. Institutional investors and hedge funds own 97.03% of the company's stock.

Elastic Stock Performance

ESTC traded up $0.64 during trading hours on Thursday, hitting $85.99. The stock had a trading volume of 629,637 shares, compared to its average volume of 1,276,138. The company has a quick ratio of 1.91, a current ratio of 1.91 and a debt-to-equity ratio of 0.75. Elastic has a 1 year low of $69.00 and a 1 year high of $136.06. The company's fifty day simple moving average is $78.35 and its 200 day simple moving average is $98.17. The stock has a market cap of $8.84 billion, a PE ratio of 155.18 and a beta of 0.94.

Elastic (NYSE:ESTC - Get Free Report) last issued its quarterly earnings data on Thursday, August 29th. The company reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.25 by $0.10. The firm had revenue of $347.42 million for the quarter, compared to analyst estimates of $344.67 million. Elastic had a net margin of 4.62% and a negative return on equity of 17.54%. Elastic's revenue was up 18.3% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.35) EPS. Equities analysts anticipate that Elastic will post -0.92 earnings per share for the current year.

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.