Elastic (NYSE:ESTC) Given Average Recommendation of “Moderate Buy” by Analysts

by · The Markets Daily

Shares of Elastic (NYSE:ESTC – Get Free Report) have received an average rating of “Moderate Buy” from the twenty research firms that are covering the firm, Marketbeat reports. Seven investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $94.61.

Several analysts recently weighed in on ESTC shares. JPMorgan Chase & Co. increased their target price on Elastic from $87.00 to $98.00 and gave the company an “overweight” rating in a research note on Friday, December 1st. Piper Sandler increased their target price on Elastic from $84.00 to $105.00 and gave the company an “overweight” rating in a research note on Friday, December 1st. TheStreet upgraded Elastic from a “d+” rating to a “c-” rating in a research note on Wednesday. Wedbush restated a “neutral” rating and set a $67.00 target price on shares of Elastic in a research note on Friday, December 1st. Finally, Jefferies Financial Group upgraded Elastic from a “hold” rating to a “buy” rating and increased their target price for the company from $75.00 to $100.00 in a research note on Wednesday, October 18th.

Check Out Our Latest Stock Analysis on ESTC

Elastic Stock Performance

ESTC opened at $130.39 on Tuesday. The company has a market cap of $12.99 billion, a PE ratio of -65.52 and a beta of 0.95. The stock has a 50-day moving average of $115.46 and a 200-day moving average of $88.04. Elastic has a 52-week low of $50.21 and a 52-week high of $131.71. The company has a debt-to-equity ratio of 1.25, a quick ratio of 1.89 and a current ratio of 1.89.

Elastic (NYSE:ESTC – Get Free Report) last released its quarterly earnings results on Thursday, November 30th. The company reported $0.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.24 by $0.13. The company had revenue of $311.00 million during the quarter, compared to the consensus estimate of $304.44 million. Elastic had a negative return on equity of 30.65% and a negative net margin of 16.62%. The firm’s revenue was up 17.6% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.50) EPS. As a group, equities research analysts forecast that Elastic will post -1.17 earnings per share for the current fiscal year.

Insider Transactions at Elastic

In other news, CFO Janesh Moorjani sold 6,930 shares of the stock in a transaction that occurred on Monday, December 11th. The stock was sold at an average price of $114.97, for a total value of $796,742.10. Following the completion of the transaction, the chief financial officer now directly owns 162,312 shares of the company’s stock, valued at approximately $18,661,010.64. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, Director Shelley B. Leibowitz sold 1,000 shares of the firm’s stock in a transaction on Tuesday, December 12th. The stock was sold at an average price of $115.53, for a total transaction of $115,530.00. Following the completion of the sale, the director now directly owns 5,577 shares of the company’s stock, valued at approximately $644,310.81. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Janesh Moorjani sold 6,930 shares of the firm’s stock in a transaction on Monday, December 11th. The shares were sold at an average price of $114.97, for a total value of $796,742.10. Following the sale, the chief financial officer now directly owns 162,312 shares of the company’s stock, valued at $18,661,010.64. The disclosure for this sale can be found here. In the last ninety days, insiders sold 128,867 shares of company stock valued at $14,928,615. Corporate insiders own 18.10% of the company’s stock.

Institutional Investors Weigh In On Elastic

Hedge funds and other institutional investors have recently bought and sold shares of the business. M&T Bank Corp acquired a new stake in Elastic during the 3rd quarter valued at $230,000. Vanguard Personalized Indexing Management LLC acquired a new stake in shares of Elastic in the 2nd quarter valued at $214,000. Pathstone Family Office LLC acquired a new stake in shares of Elastic in the 3rd quarter valued at $5,046,000. Archford Capital Strategies LLC acquired a new stake in shares of Elastic in the 2nd quarter valued at $544,000. Finally, Vontobel Holding Ltd. increased its stake in shares of Elastic by 340.6% in the 2nd quarter. Vontobel Holding Ltd. now owns 19,235 shares of the company’s stock valued at $1,233,000 after buying an additional 14,869 shares during the period. 74.66% of the stock is owned by institutional investors and hedge funds.

About Elastic

(Get Free Report

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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