Elastic (NYSE:ESTC) Receives Consensus Rating of “Moderate Buy” from Brokerages

Shares of Elastic (NYSE:ESTC) have been assigned an average rating of “Moderate Buy” from the twenty-four brokerages that are presently covering the stock, Marketbeat.com reports. Eight analysts have rated the stock with a hold recommendation and sixteen have issued a buy recommendation on the company. The average 1 year target price among analysts 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. Citigroup lifted their price objective on Elastic from $155.00 to $160.00 and gave the stock a “buy” rating in a research report on Wednesday, August 28th. Barclays upgraded Elastic from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $90.00 to $95.00 in a research report on Monday, October 7th. Scotiabank dropped their price objective on Elastic from $135.00 to $92.00 and set a “sector outperform” rating for the company in a research report on Friday, August 30th. Jefferies Financial Group dropped their price objective on Elastic from $140.00 to $110.00 and set a “buy” rating for the company in a research report on Friday, August 30th. Finally, Bank of America cut Elastic from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $140.00 to $94.00 in a research report on Friday, August 30th.

Elastic Trading Up 3.5 %

NYSE:ESTC opened at $89.95 on Thursday. The company has a market capitalization of $9.24 billion, a PE ratio of 163.55 and a beta of 0.94. 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 52-week low of $69.00 and a 52-week high of $136.06. The stock has a fifty day simple moving average of $78.49 and a 200-day simple moving average of $97.83.

Elastic (NYSE:ESTC) last released its quarterly earnings results on Thursday, August 29th. The company reported $0.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.25 by $0.10. The business had revenue of $347.42 million during the quarter, compared to the consensus estimate of $344.67 million. Elastic had a negative return on equity of 17.54% and a net margin of 4.62%. The business’s revenue was up 18.3% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.35) EPS. On average, equities research analysts expect that Elastic will post -0.92 earnings per share for the current fiscal year.

Insider Activity

In other Elastic news, insider Carolyn Herzog sold 4,489 shares of the company’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $70.25, for a total value of $315,352.25. Following the completion of the transaction, the insider now owns 102,959 shares in the company, valued at $7,232,869.75. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Elastic news, CTO Shay Banon sold 2,666 shares of the company’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $70.25, for a total value of $187,286.50. Following the completion of the transaction, the chief technology officer now owns 4,543,190 shares in the company, valued at $319,159,097.50. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Carolyn Herzog sold 4,489 shares of the company’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $70.25, for a total value of $315,352.25. Following the completion of the transaction, the insider now owns 102,959 shares of the company’s stock, valued at approximately $7,232,869.75. This 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 in the last three months. Corporate insiders own 15.90% of the company’s stock.

Hedge Funds Weigh In On Elastic

Institutional investors and hedge funds have recently made changes to their positions in the business. Asset Dedication LLC boosted its stake in shares of Elastic by 1,333.3% during the 2nd quarter. Asset Dedication LLC now owns 301 shares of the company’s stock valued at $34,000 after buying an additional 280 shares during the last quarter. AlphaCentric Advisors LLC purchased a new position in shares of Elastic during the 2nd quarter valued at approximately $40,000. Quarry LP purchased a new position in shares of Elastic during the 2nd quarter valued at approximately $40,000. Lynx Investment Advisory purchased a new position in shares of Elastic during the 2nd quarter valued at approximately $43,000. Finally, Signaturefd LLC boosted its stake in shares of Elastic by 44.1% during the 2nd quarter. Signaturefd LLC now owns 389 shares of the company’s stock valued at $44,000 after buying an additional 119 shares during the last quarter. 97.03% of the stock is currently owned by hedge funds and other institutional investors.

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.