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

Elastic (NYSE:ESTC) has earned a consensus rating of “Moderate Buy” from the twenty-one research firms that are presently covering the firm, Marketbeat reports. Seven equities research analysts have rated the stock with a hold recommendation and fourteen have issued a buy recommendation on the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $111.26.

ESTC has been the topic of a number of recent research reports. Scotiabank reduced their price objective on Elastic from $185.00 to $154.00 and set a “sector outperform” rating on the stock in a research note on Friday, March 1st. Rosenblatt Securities boosted their price objective on Elastic from $105.00 to $136.00 and gave the stock a “buy” rating in a research note on Friday, March 1st. Citigroup reduced their price objective on Elastic from $165.00 to $155.00 and set a “buy” rating on the stock in a research note on Monday, March 4th. The Goldman Sachs Group boosted their price objective on Elastic from $93.00 to $106.00 and gave the stock a “neutral” rating in a research note on Friday, March 1st. Finally, Oppenheimer boosted their price objective on Elastic from $110.00 to $130.00 and gave the stock an “outperform” rating in a research note on Friday, March 1st.

Elastic Price Performance

Shares of Elastic stock opened at $102.54 on Friday. Elastic has a twelve month low of $54.06 and a twelve month high of $136.06. The stock has a market capitalization of $10.34 billion, a P/E ratio of 222.91 and a beta of 0.94. The company has a current ratio of 1.87, a quick ratio of 1.87 and a debt-to-equity ratio of 0.80. The business’s fifty day moving average price is $108.34 and its 200 day moving average price is $102.24.

Elastic (NYSE:ESTC) last issued its earnings results on Thursday, February 29th. The company reported ($0.27) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.28) by $0.01. Elastic had a negative return on equity of 23.94% and a net margin of 4.63%. The firm had revenue of $327.96 million for the quarter, compared to analysts’ expectations of $320.48 million. As a group, research analysts anticipate that Elastic will post -1.13 earnings per share for the current year.

Insider Activity at Elastic

In related news, CTO Shay Banon sold 1,322 shares of the business’s 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 sale, the chief technology officer now directly owns 4,518,714 shares of the company’s stock, valued at $480,022,988.22. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, CTO Shay Banon sold 1,322 shares of the business’s 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 sale, the chief technology officer now directly owns 4,518,714 shares of the company’s stock, valued at $480,022,988.22. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Ashutosh Kulkarni sold 15,778 shares of the business’s stock in a transaction dated 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 sale, the chief executive officer now directly owns 364,235 shares of the company’s stock, valued at $37,618,190.80. The disclosure for this sale can be found here. Insiders sold a total of 962,440 shares of company stock valued at $94,535,764 over the last three months. 18.10% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its stake in Elastic by 4.6% in the third quarter. Vanguard Group Inc. now owns 8,573,534 shares of the company’s stock valued at $696,514,000 after buying an additional 380,694 shares during the last quarter. International Assets Investment Management LLC bought a new stake in Elastic in the 4th quarter valued at about $25,660,000. UBS Group AG boosted its stake in Elastic by 28.0% during the 3rd quarter. UBS Group AG now owns 56,805 shares of the company’s stock valued at $4,615,000 after purchasing an additional 12,430 shares during the period. Northern Trust Corp grew its position in Elastic by 3.8% in the 3rd quarter. Northern Trust Corp now owns 372,712 shares of the company’s stock worth $30,279,000 after purchasing an additional 13,587 shares during the last quarter. Finally, M&T Bank Corp acquired a new stake in shares of Elastic in the third quarter valued at approximately $230,000. 97.03% of the stock is currently owned by 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.