Elastic (NYSE:ESTC) Price Target Raised to $136.00 at Guggenheim

Elastic (NYSE:ESTC) had its target price raised by analysts at Guggenheim from $130.00 to $136.00 in a research report issued on Friday,Benzinga reports. The firm presently has a “buy” rating on the stock. Guggenheim’s target price points to a potential upside of 18.59% from the company’s current price.

A number of other brokerages have also weighed in on ESTC. Citigroup lifted their price objective on Elastic from $136.00 to $150.00 and gave the company a “buy” rating in a report on Monday, November 25th. Cantor Fitzgerald initiated coverage on Elastic in a report on Friday, January 17th. They set a “neutral” rating and a $108.00 price objective for the company. Canaccord Genuity Group boosted their price objective on shares of Elastic from $130.00 to $135.00 and gave the stock a “buy” rating in a report on Friday. Stifel Nicolaus upped their price target on Elastic from $98.00 to $132.00 and gave the company a “buy” rating in a research report on Friday, November 22nd. Finally, Oppenheimer increased their price objective on Elastic from $125.00 to $140.00 and gave the stock an “outperform” rating in a report on Friday, November 22nd. Seven equities research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $127.13.

Elastic Stock Up 13.2 %

Shares of NYSE ESTC traded up $13.40 during mid-day trading on Friday, reaching $114.68. The company had a trading volume of 1,956,152 shares, compared to its average volume of 1,280,731. Elastic has a 52-week low of $69.00 and a 52-week high of $136.06. The stock has a market cap of $11.88 billion, a P/E ratio of 208.77 and a beta of 1.07. The company has a current ratio of 1.99, a quick ratio of 1.99 and a debt-to-equity ratio of 0.70. The firm has a 50 day simple moving average of $105.85 and a two-hundred day simple moving average of $95.51.

Elastic (NYSE:ESTC) last issued its quarterly earnings data on Thursday, February 27th. The company reported ($0.01) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.47 by ($0.48). The firm had revenue of $382.08 million for the quarter, compared to analysts’ expectations of $368.85 million. Elastic had a negative return on equity of 13.20% and a net margin of 4.39%. Sell-side analysts predict that Elastic will post -0.77 earnings per share for the current year.

Insider Transactions at Elastic

In other news, CEO Ashutosh Kulkarni sold 7,017 shares of the business’s stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $108.12, for a total transaction of $758,678.04. Following the completion of the transaction, the chief executive officer now owns 395,326 shares of the company’s stock, valued at approximately $42,742,647.12. The trade was a 1.74 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 15.90% of the stock is owned by insiders.

Hedge Funds Weigh In On Elastic

Institutional investors and hedge funds have recently bought and sold shares of the company. Geneos Wealth Management Inc. acquired a new position in Elastic in the 4th quarter worth about $25,000. SBI Securities Co. Ltd. acquired a new position in Elastic in the 4th quarter worth about $25,000. Fourth Dimension Wealth LLC acquired a new position in Elastic in the 4th quarter worth about $26,000. Venturi Wealth Management LLC increased its holdings in Elastic by 793.3% in the 4th quarter. Venturi Wealth Management LLC now owns 268 shares of the company’s stock worth $27,000 after purchasing an additional 238 shares in the last quarter. Finally, Smartleaf Asset Management LLC increased its holdings in Elastic by 126.4% in the 4th quarter. Smartleaf Asset Management LLC now owns 283 shares of the company’s stock worth $28,000 after purchasing an additional 158 shares in the last quarter. Institutional investors and hedge funds own 97.03% of the company’s stock.

About Elastic

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.