Analysts Set Elastic N.V. (NYSE:ESTC) PT at $120.00

Elastic N.V. (NYSE:ESTC) has been assigned an average recommendation of “Moderate Buy” from the thirty-one brokerages that are presently covering the stock, MarketBeat.com reports. Ten analysts have rated the stock with a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $118.80.

ESTC has been the topic of several research reports. Oppenheimer reaffirmed an “outperform” rating on shares of Elastic in a research report on Friday, August 29th. Royal Bank Of Canada upped their target price on Elastic from $106.00 to $125.00 and gave the stock an “outperform” rating in a research report on Friday, August 29th. Morgan Stanley upped their target price on Elastic from $115.00 to $120.00 and gave the stock an “overweight” rating in a research report on Friday, August 29th. Jefferies Financial Group upped their price target on Elastic from $110.00 to $125.00 and gave the stock a “buy” rating in a research note on Friday, August 29th. Finally, Wells Fargo & Company initiated coverage on Elastic in a research note on Tuesday. They set an “equal weight” rating and a $90.00 price target for the company.

Insider Activity at Elastic

In other news, CFO Navam Welihinda sold 3,489 shares of the company’s stock in a transaction dated Tuesday, September 9th. The stock was sold at an average price of $90.12, for a total transaction of $314,428.68. Following the completion of the sale, the chief financial officer owned 130,436 shares in the company, valued at approximately $11,754,892.32. This represents a 2.61% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Ken Exner sold 6,290 shares of the company’s stock in a transaction dated Tuesday, September 9th. The stock was sold at an average price of $90.12, for a total value of $566,854.80. Following the sale, the insider owned 233,582 shares of the company’s stock, valued at approximately $21,050,409.84. This trade represents a 2.62% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 349,536 shares of company stock worth $30,872,136 in the last 90 days. Insiders own 12.70% of the company’s stock.

Institutional Trading of Elastic

Several hedge funds have recently added to or reduced their stakes in the business. Corient Private Wealth LLC boosted its stake in Elastic by 35.5% during the 2nd quarter. Corient Private Wealth LLC now owns 4,669 shares of the company’s stock valued at $394,000 after purchasing an additional 1,223 shares during the period. Daventry Group LP boosted its stake in Elastic by 34.4% during the 2nd quarter. Daventry Group LP now owns 728,120 shares of the company’s stock valued at $61,402,000 after purchasing an additional 186,479 shares during the period. American Trust bought a new stake in Elastic during the 2nd quarter valued at approximately $205,000. Orion Porfolio Solutions LLC boosted its stake in Elastic by 5.4% during the 2nd quarter. Orion Porfolio Solutions LLC now owns 8,475 shares of the company’s stock valued at $715,000 after purchasing an additional 437 shares during the period. Finally, Promus Capital LLC bought a new stake in Elastic during the 2nd quarter valued at approximately $45,000. Institutional investors own 97.03% of the company’s stock.

Elastic Stock Performance

Shares of ESTC stock opened at $87.61 on Friday. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.09 and a quick ratio of 2.09. Elastic has a fifty-two week low of $70.14 and a fifty-two week high of $118.84. The stock’s 50-day moving average is $83.75 and its two-hundred day moving average is $85.15. The firm has a market cap of $9.31 billion, a P/E ratio of -109.52 and a beta of 1.05.

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.