Brokerages Set Elastic (NYSE:ESTC) Price Target at $118.05

Shares of Elastic (NYSE:ESTC) have been assigned a consensus rating of “Moderate Buy” from the twenty-one analysts that are covering the firm, Marketbeat Ratings reports. Six investment analysts have rated the stock with a hold recommendation and fifteen have issued a buy recommendation on the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $118.05.

Several research analysts have issued reports on ESTC shares. Canaccord Genuity Group cut their price target on Elastic from $130.00 to $125.00 and set a “buy” rating on the stock in a report on Friday, May 31st. Bank of America decreased their price target on shares of Elastic from $150.00 to $140.00 and set a “buy” rating for the company in a research note on Friday, May 31st. Scotiabank dropped their price objective on shares of Elastic from $154.00 to $135.00 and set a “sector outperform” rating on the stock in a research note on Friday, May 31st. Barclays decreased their target price on shares of Elastic from $128.00 to $117.00 and set an “equal weight” rating for the company in a research report on Friday, May 31st. Finally, Citigroup raised their price target on shares of Elastic from $145.00 to $155.00 and gave the company a “buy” rating in a research report on Monday, June 3rd.

Elastic Price Performance

Elastic stock opened at $100.06 on Tuesday. The stock’s 50 day moving average price is $111.09 and its two-hundred day moving average price is $110.67. The stock has a market capitalization of $10.18 billion, a price-to-earnings ratio of 188.79 and a beta of 0.98. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.76 and a current ratio of 1.76. Elastic has a 52-week low of $57.38 and a 52-week high of $136.06.

Elastic (NYSE:ESTC) last posted its quarterly earnings results on Thursday, May 30th. The company reported ($0.39) EPS for the quarter, missing analysts’ consensus estimates of ($0.36) by ($0.03). Elastic had a negative return on equity of 20.83% and a net margin of 4.87%. The company had revenue of $335.00 million during the quarter, compared to analyst estimates of $329.15 million. On average, equities analysts predict that Elastic will post -1.12 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO Ashutosh Kulkarni sold 9,664 shares of the stock in a transaction on Monday, June 24th. The stock was sold at an average price of $109.88, for a total transaction of $1,061,880.32. Following the completion of the transaction, the chief executive officer now owns 452,297 shares in the company, valued at approximately $49,698,394.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CEO Ashutosh Kulkarni sold 9,664 shares of the firm’s stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $109.88, for a total value of $1,061,880.32. Following the completion of the transaction, the chief executive officer now directly owns 452,297 shares of the company’s stock, valued at approximately $49,698,394.36. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CTO Shay Banon sold 120,000 shares of the business’s stock in a transaction on Monday, June 24th. The shares were sold at an average price of $109.48, for a total transaction of $13,137,600.00. Following the sale, the chief technology officer now directly owns 2,754,978 shares in the company, valued at approximately $301,614,991.44. The disclosure for this sale can be found here. Insiders sold 355,312 shares of company stock valued at $38,626,610 over the last ninety days. 18.10% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. Raymond James & Associates bought a new position in shares of Elastic in the fourth quarter valued at approximately $2,637,000. Blue Trust Inc. grew its position in shares of Elastic by 40.3% during the 4th quarter. Blue Trust Inc. now owns 1,449 shares of the company’s stock valued at $163,000 after purchasing an additional 416 shares in the last quarter. Chicago Capital LLC bought a new position in shares of Elastic in the fourth quarter worth $267,000. Oak Thistle LLC purchased a new stake in shares of Elastic in the fourth quarter worth $795,000. Finally, Arizona State Retirement System raised its position in shares of Elastic by 5.4% in the fourth quarter. Arizona State Retirement System now owns 23,386 shares of the company’s stock worth $2,636,000 after buying an additional 1,202 shares in the last quarter. Institutional investors own 97.03% of the company’s stock.

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.