Brokerages Set Elastic (NYSE:ESTC) Target Price at $111.26

Elastic (NYSE:ESTC) has received a consensus recommendation of “Moderate Buy” from the twenty-one analysts that are presently covering the firm, Marketbeat reports. Seven analysts have rated the stock with a hold recommendation and fourteen have given a buy recommendation to the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $111.26.

ESTC has been the subject of several analyst reports. Scotiabank decreased their price objective on shares of Elastic from $185.00 to $154.00 and set a “sector outperform” rating for the company in a research note on Friday, March 1st. Oppenheimer raised their price target on Elastic from $110.00 to $130.00 and gave the company an “outperform” rating in a research note on Friday, March 1st. Barclays decreased their price objective on Elastic from $130.00 to $128.00 and set an “equal weight” rating for the company in a research note on Friday, March 1st. The Goldman Sachs Group lifted their price target on shares of Elastic from $93.00 to $106.00 and gave the stock a “neutral” rating in a report on Friday, March 1st. Finally, Royal Bank of Canada increased their price target on Elastic from $134.00 to $147.00 and gave the company an “overweight” rating in a research note on Monday, March 4th.

Insider Activity at Elastic

In related news, CTO Shay Banon sold 1,322 shares of Elastic stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $106.23, for a total value of $140,436.06. Following the completion of the transaction, the chief technology officer now owns 4,518,714 shares in the company, valued at approximately $480,022,988.22. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, CTO Shay Banon sold 1,322 shares of the firm’s stock in a transaction dated Tuesday, March 12th. The shares were sold at an average price of $106.23, for a total value of $140,436.06. Following the transaction, the chief technology officer now directly owns 4,518,714 shares of the company’s stock, valued at approximately $480,022,988.22. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Ashutosh Kulkarni sold 15,778 shares of the firm’s stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $103.28, for a total value of $1,629,551.84. Following the completion of the transaction, the chief executive officer now owns 364,235 shares in the company, valued at approximately $37,618,190.80. The disclosure for this sale can be found here. Insiders sold a total of 962,440 shares of company stock worth $94,535,764 in the last three months. Company insiders own 18.10% of the company’s stock.

Institutional Investors Weigh In On Elastic

A number of hedge funds have recently modified their holdings of the business. FMR LLC increased its holdings in shares of Elastic by 4.7% in the third quarter. FMR LLC now owns 9,051,434 shares of the company’s stock valued at $735,338,000 after purchasing an additional 409,717 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Elastic by 4.6% in the 3rd quarter. Vanguard Group Inc. now owns 8,573,534 shares of the company’s stock valued at $696,514,000 after acquiring an additional 380,694 shares during the period. Baillie Gifford & Co. boosted its position in shares of Elastic by 2.8% during the 4th quarter. Baillie Gifford & Co. now owns 7,764,370 shares of the company’s stock worth $875,044,000 after purchasing an additional 211,896 shares during the period. Sylebra Capital LLC purchased a new stake in Elastic in the third quarter valued at approximately $318,822,000. Finally, JPMorgan Chase & Co. raised its holdings in shares of Elastic by 5.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 2,969,585 shares of the company’s stock valued at $241,249,000 after buying an additional 155,612 shares during the period. 97.03% of the stock is currently owned by institutional investors and hedge funds.

Elastic Stock Up 2.5 %

Shares of ESTC stock opened at $107.43 on Friday. The company has a market capitalization of $10.83 billion, a price-to-earnings ratio of 233.54 and a beta of 0.94. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.87 and a quick ratio of 1.87. The company’s fifty day moving average price is $106.47 and its 200-day moving average price is $102.60. Elastic has a one year low of $54.06 and a one year high of $136.06.

Elastic (NYSE:ESTC) last announced its quarterly earnings data on Thursday, February 29th. The company reported ($0.27) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.28) by $0.01. The business had revenue of $327.96 million during the quarter, compared to analyst estimates of $320.48 million. Elastic had a net margin of 4.63% and a negative return on equity of 23.94%. Sell-side analysts expect that Elastic will post -1.13 EPS for the current fiscal year.

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.