Shares of Elastic (NYSE:ESTC – Get Rating) have been assigned an average rating of "Moderate Buy" from the seventeen analysts that are covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have issued a buy rating on the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $79.73.
Several equities analysts have recently weighed in on ESTC shares. Wells Fargo & Company started coverage on shares of Elastic in a research report on Tuesday, October 11th. They issued an "underweight" rating and a $73.00 price objective on the stock. Royal Bank of Canada dropped their price objective on shares of Elastic from $100.00 to $85.00 and set an "outperform" rating for the company in a research note on Monday, November 28th. Wedbush assumed coverage on shares of Elastic in a research note on Wednesday, December 14th. They issued a "neutral" rating and a $67.00 price objective for the company. Robert W. Baird reiterated an "outperform" rating and issued a $100.00 price objective on shares of Elastic in a research note on Wednesday, October 19th. Finally, Canaccord Genuity Group dropped their price objective on shares of Elastic from $82.00 to $70.00 and set a "buy" rating for the company in a research note on Wednesday, January 18th.
Get Elastic alerts:Insider Buying and Selling at Elastic
In other Elastic news, CTO Shay Banon sold 2,026 shares of the firm'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 $108,593.60. Following the transaction, the chief technology officer now directly owns 8,245,848 shares of the company's stock, valued at approximately $441,977,452.80. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, CFO Janesh Moorjani sold 3,975 shares of Elastic stock in a transaction that occurred on Friday, December 9th. The shares were sold at an average price of $53.60, for a total transaction of $213,060.00. Following the sale, the chief financial officer now directly owns 182,191 shares of the company's stock, valued at approximately $9,765,437.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO Shay Banon sold 2,026 shares of Elastic stock in a transaction that occurred on Friday, December 9th. The shares were sold at an average price of $53.60, for a total transaction of $108,593.60. Following the sale, the chief technology officer now directly owns 8,245,848 shares in the company, valued at $441,977,452.80. The disclosure for this sale can be found here. Insiders have sold a total of 10,944 shares of company stock valued at $586,598 in the last ninety days. 18.80% of the stock is currently owned by company insiders.
Institutional Investors Weigh In On Elastic
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Advisors Asset Management Inc. boosted its position in Elastic by 10.0% during the 2nd quarter. Advisors Asset Management Inc. now owns 1,669 shares of the company's stock worth $113,000 after buying an additional 152 shares during the period. Allworth Financial LP boosted its position in Elastic by 94.4% during the 3rd 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 boosted its position in Elastic by 79.8% during the 2nd quarter. Quadrant Capital Group LLC now owns 446 shares of the company's stock worth $30,000 after buying an additional 198 shares during the period. Scotia Capital Inc. boosted its position in Elastic by 0.4% during the 2nd quarter. Scotia Capital Inc. now owns 54,873 shares of the company's stock worth $3,713,000 after buying an additional 202 shares during the period. Finally, Xponance Inc. boosted its position in Elastic by 2.3% during the 3rd quarter. Xponance Inc. now owns 9,178 shares of the company's stock worth $658,000 after buying an additional 204 shares during the period. 78.40% of the stock is owned by institutional investors.Elastic Price Performance
Shares of ESTC opened at $57.28 on Friday. The firm has a market capitalization of $5.48 billion, a PE ratio of -22.46 and a beta of 1.07. The company's 50-day moving average is $53.98 and its 200-day moving average is $67.13. Elastic has a fifty-two week low of $46.18 and a fifty-two week high of $98.75. The company has a debt-to-equity ratio of 1.45, a current ratio of 1.91 and a quick ratio of 1.91.
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 the consensus estimate of ($0.60) by $0.10. The company had revenue of $264.40 million for the quarter, compared to analyst estimates of $261.25 million. Elastic had a negative net margin of 24.46% and a negative return on equity of 53.77%. Equities analysts forecast that Elastic will post -1.91 EPS for the current year.
Elastic Company Profile
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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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