Elastic (NYSE:ESTC – Get Rating) shares traded up 6.1% during trading on Friday . The company traded as high as $54.08 and last traded at $53.95. 15,313 shares changed hands during trading, a decline of 99% from the average session volume of 1,251,511 shares. The stock had previously closed at $50.85.
Analysts Set New Price Targets
A number of equities analysts have issued reports on ESTC shares. Oppenheimer cut their target price on Elastic from $90.00 to $80.00 and set an "outperform" rating on the stock in a research report on Tuesday, January 3rd. Wells Fargo & Company assumed coverage on Elastic in a research note on Tuesday, October 11th. They issued an "underweight" rating and a $73.00 price target for the company. Canaccord Genuity Group cut their price objective on Elastic from $100.00 to $82.00 in a research note on Thursday, December 1st. Rosenblatt Securities decreased their price objective on shares of Elastic to $96.00 in a report on Friday, December 2nd. Finally, Robert W. Baird reiterated an "outperform" rating and set a $100.00 target price on shares of Elastic in a research note on Wednesday, October 19th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, Elastic presently has a consensus rating of "Moderate Buy" and an average target price of $83.73.
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Elastic Price Performance
The company has a debt-to-equity ratio of 1.45, a quick ratio of 1.91 and a current ratio of 1.91. The firm has a market capitalization of $5.27 billion, a P/E ratio of -21.62 and a beta of 1.07. The business has a fifty day moving average of $54.58 and a 200-day moving average of $67.67.
Elastic (NYSE:ESTC – Get Rating) last issued its quarterly earnings data on Wednesday, November 30th. The company reported ($0.50) earnings per share for the quarter, beating analysts' consensus estimates of ($0.60) by $0.10. The business had revenue of $264.40 million for the quarter, compared to analysts' expectations of $261.25 million. Elastic had a negative net
margin of 24.46% and a negative return on equity of 53.77%. On average, sell-side analysts forecast that Elastic will post -1.91 EPS for the current fiscal year.
Insiders Place Their Bets
In other Elastic news, CEO Ashutosh Kulkarni sold 3,619 shares of the business's stock in a transaction dated Friday, December 9th. The shares were sold at an average price of $53.60, for a total value of $193,978.40. Following the sale, the chief executive officer now directly owns 355,135 shares in the company, valued at $19,035,236. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, insider Carolyn Herzog sold 1,324 shares of the firm's stock in a transaction on Friday, December 9th. The stock was sold at an average price of $53.60, for a total transaction of $70,966.40. Following the completion of the sale, the insider now directly owns 90,148 shares of the company's stock, valued at approximately $4,831,932.80. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Ashutosh Kulkarni sold 3,619 shares of the business's stock in a transaction on Friday, December 9th. The stock was sold at an average price of $53.60, for a total value of $193,978.40. Following the sale, the chief executive officer now directly owns 355,135 shares in the company, valued at $19,035,236. The disclosure for this sale can be found here. Insiders sold 17,194 shares of company stock worth $994,473 over the last ninety days. Company insiders own 18.80% of the company's stock.
Hedge Funds Weigh In On Elastic
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Allworth Financial LP boosted its position in shares of Elastic by 94.4% in the third quarter. Allworth Financial LP now owns 383 shares of the company's stock worth $27,000 after buying an additional 186 shares during the period. Quadrant Capital Group LLC grew its stake in Elastic by 79.8% during the 2nd quarter. Quadrant Capital Group LLC now owns 446 shares of the company's stock valued at $30,000 after acquiring an additional 198 shares in the last quarter. Altshuler Shaham Ltd purchased a new position in Elastic during the 3rd quarter valued at about $43,000. Wipfli Financial Advisors LLC acquired a new position in shares of Elastic in the 3rd quarter valued at about $47,000. Finally, CWM LLC lifted its position in shares of Elastic by 88.0% in the second quarter. CWM LLC now owns 1,130 shares of the company's stock worth $76,000 after purchasing an additional 529 shares in the last quarter. Institutional investors and hedge funds own 78.40% of the company's stock.
About Elastic
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Elastic NV engages in the provision of open-source search and analytics engine services. It offers Elastic Stack, a set of software products that ingest and store data from various sources and formats, as well as perform search, analysis, and visualization. The firms Elastic Stack product comprises Elasticsearch, a distributed, real-time search and analytics engine, and data store for various types of data, including textual, numerical, geospatial, structured, and unstructured, Kibana, a user interface, management, and configuration interface for the Elastic Stack, Beats, a single-purpose data shippers for sending data from edge machines to Elasticsearch or Logstash, and Logstash, a data processing pipeline for ingesting data into Elasticsearch or other storage systems.
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