Elastic (NYSE:ESTC) Now Covered by UBS Group

UBS Group initiated coverage on shares of Elastic (NYSE:ESTC) in a research report sent to investors on Wednesday, Marketbeat Ratings reports. The firm issued a buy rating and a $135.00 price target on the stock.

ESTC has been the topic of several other research reports. Royal Bank of Canada lifted their price target on shares of Elastic from $134.00 to $147.00 and gave the company an overweight rating in a report on Monday, March 4th. TheStreet upgraded shares of Elastic from a d+ rating to a c- rating in a research note on Wednesday, February 7th. Oppenheimer increased their price target on Elastic from $110.00 to $130.00 and gave the stock an outperform rating in a research note on Friday, March 1st. Scotiabank lowered their price objective on Elastic from $185.00 to $154.00 and set a sector outperform rating on the stock in a research report on Friday, March 1st. Finally, Rosenblatt Securities increased their target price on Elastic from $105.00 to $136.00 and gave the stock a buy rating in a research report on Friday, March 1st. Seven analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of Moderate Buy and a consensus target price of $113.80.

Elastic Trading Down 1.0 %

Shares of Elastic stock opened at $104.95 on Wednesday. Elastic has a 1-year low of $57.38 and a 1-year high of $136.06. The company’s fifty day simple moving average is $102.57 and its 200-day simple moving average is $106.91. 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 stock has a market capitalization of $10.58 billion, a PE ratio of 228.15 and a beta of 0.92.

Elastic (NYSE:ESTC) last released its quarterly earnings results on Thursday, February 29th. The company reported ($0.27) earnings per share (EPS) for the quarter, beating the consensus estimate 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 negative return on equity of 23.94% and a net margin of 4.63%. As a group, equities analysts anticipate that Elastic will post -1.13 earnings per share for the current year.

Insider Transactions at Elastic

In related news, Director Steven Schuurman sold 815,000 shares of the stock in a transaction dated Tuesday, March 26th. The shares were sold at an average price of $97.54, for a total value of $79,495,100.00. Following the sale, the director now directly owns 8,382,000 shares of the company’s stock, valued at approximately $817,580,280. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO Ashutosh Kulkarni sold 15,778 shares of the firm’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 transaction, the chief executive officer now owns 364,235 shares of the company’s stock, valued at approximately $37,618,190.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Steven Schuurman sold 815,000 shares of Elastic stock in a transaction dated Tuesday, March 26th. The shares were sold at an average price of $97.54, for a total transaction of $79,495,100.00. Following the sale, the director now owns 8,382,000 shares of the company’s stock, valued at approximately $817,580,280. The disclosure for this sale can be found here. In the last quarter, insiders sold 962,440 shares of company stock worth $94,535,764. 18.10% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Elastic

A number of institutional investors have recently modified their holdings of ESTC. Rakuten Securities Inc. purchased a new stake in shares of Elastic in the fourth quarter valued at approximately $25,000. Covestor Ltd grew its position in shares of Elastic by 168.3% during the 3rd quarter. Covestor Ltd now owns 448 shares of the company’s stock worth $36,000 after buying an additional 281 shares in the last quarter. GAMMA Investing LLC purchased a new position in shares of Elastic during the fourth quarter valued at $39,000. Cypress Capital Management LLC WY bought a new stake in shares of Elastic in the fourth quarter valued at about $45,000. Finally, Allspring Global Investments Holdings LLC purchased a new stake in Elastic in the first quarter worth about $64,000. 97.03% of the stock is owned by hedge funds and other institutional investors.

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.