Oppenheimer & Co. Inc. boosted its holdings in shares of Elastic NV (NYSE:ESTC) by 157.1% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 15,037 shares of the company’s stock after buying an additional 9,188 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Elastic were worth $967,000 as of its most recent SEC filing.
Other institutional investors have also added to or reduced their stakes in the company. Amundi Pioneer Asset Management Inc. purchased a new stake in shares of Elastic in the 1st quarter valued at approximately $13,435,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Elastic by 35.9% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,492 shares of the company’s stock worth $123,000 after purchasing an additional 394 shares during the period. State of New Jersey Common Pension Fund D acquired a new stake in Elastic during the 3rd quarter worth $2,026,000. Rhumbline Advisers boosted its stake in Elastic by 11.8% during the 3rd quarter. Rhumbline Advisers now owns 39,246 shares of the company’s stock worth $3,232,000 after purchasing an additional 4,152 shares during the period. Finally, Railway Pension Investments Ltd acquired a new stake in Elastic during the 3rd quarter worth $3,296,000. Institutional investors own 60.15% of the company’s stock.
ESTC has been the subject of a number of recent research reports. Canaccord Genuity upgraded shares of Elastic from a “hold” rating to a “buy” rating and set a $90.00 price target for the company in a research note on Monday, November 18th. ValuEngine upgraded shares of Elastic from a “hold” rating to a “buy” rating in a report on Tuesday, January 7th. Zacks Investment Research downgraded shares of Elastic from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 4th. Royal Bank of Canada restated an “outperform” rating and set a $103.00 target price on shares of Elastic in a report on Thursday, December 5th. Finally, Jefferies Financial Group upgraded shares of Elastic from a “hold” rating to a “buy” rating and set a $85.00 target price for the company in a report on Thursday, January 9th. Four analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $99.08.
Shares of ESTC stock traded down $2.56 during midday trading on Monday, reaching $70.22. 39,187 shares of the stock were exchanged, compared to its average volume of 865,978. Elastic NV has a 1 year low of $60.10 and a 1 year high of $104.10. The company’s 50 day moving average is $69.25 and its two-hundred day moving average is $76.14. The company has a current ratio of 1.64, a quick ratio of 1.64 and a debt-to-equity ratio of 0.08. The firm has a market cap of $5.89 billion and a PE ratio of -35.43.
Elastic (NYSE:ESTC) last posted its earnings results on Wednesday, December 4th. The company reported ($0.22) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.50) by $0.28. Elastic had a negative return on equity of 40.66% and a negative net margin of 43.22%. The firm had revenue of $101.10 million for the quarter, compared to the consensus estimate of $96.51 million. During the same quarter in the prior year, the business earned ($0.38) EPS. The business’s revenue for the quarter was up 59.0% on a year-over-year basis. As a group, equities analysts expect that Elastic NV will post -1.97 EPS for the current fiscal year.
Elastic N.V. develops and delivers technology that enables users to search structured and unstructured data for a range of consumer and enterprise applications. It primarily provides 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.
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