Jefferies Financial Group Trims Elastic (NYSE:ESTC) Target Price to $110.00

Elastic (NYSE:ESTC) had its target price trimmed by Jefferies Financial Group from $140.00 to $110.00 in a research report released on Friday, Benzinga reports. The firm currently has a buy rating on the stock.

Several other research analysts have also issued reports on the company. Stifel Nicolaus reduced their target price on Elastic from $120.00 to $98.00 and set a buy rating on the stock in a research report on Friday. Robert W. Baird lowered Elastic from an outperform rating to a neutral rating and reduced their target price for the company from $135.00 to $95.00 in a research report on Friday. Bank of America lowered Elastic from a buy rating to a neutral rating and reduced their target price for the company from $140.00 to $94.00 in a research report on Friday. Barclays reduced their target price on Elastic from $128.00 to $117.00 and set an equal weight rating on the stock in a research report on Friday, May 31st. Finally, TD Cowen dropped their target price on Elastic from $110.00 to $80.00 and set a hold rating on the stock in a report on Friday. Nine analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, Elastic currently has an average rating of Moderate Buy and a consensus target price of $105.20.

Elastic Trading Down 26.5 %

Shares of NYSE ESTC opened at $76.19 on Friday. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.76 and a quick ratio of 1.76. The stock has a market capitalization of $7.83 billion, a P/E ratio of 143.75 and a beta of 0.98. Elastic has a 1-year low of $59.30 and a 1-year high of $136.06. The business has a fifty day moving average price of $109.70 and a 200 day moving average price of $108.24.

Elastic (NYSE:ESTC) last issued its quarterly earnings data on Thursday, August 29th. The company reported $0.35 earnings per share for the quarter, topping analysts’ consensus estimates of $0.25 by $0.10. Elastic had a negative return on equity of 18.41% and a net margin of 4.62%. The firm had revenue of $347.42 million during the quarter, compared to analysts’ expectations of $344.67 million. During the same period in the prior year, the business posted ($0.35) EPS. The firm’s quarterly revenue was up 18.3% on a year-over-year basis. Equities research analysts expect that Elastic will post -1.12 EPS for the current fiscal year.

Insider Activity

In other news, CRO Mark Eugene Dodds sold 3,457 shares of the firm’s stock in a transaction that occurred on Friday, June 7th. The stock was sold at an average price of $110.78, for a total value of $382,966.46. Following the transaction, the executive now owns 82,498 shares in the company, valued at $9,139,128.44. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, CTO Shay Banon sold 5,260 shares of Elastic stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $109.89, for a total transaction of $578,021.40. Following the transaction, the chief technology officer now owns 4,545,856 shares in the company, valued at $499,544,115.84. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CRO Mark Eugene Dodds sold 3,457 shares of Elastic stock in a transaction that occurred on Friday, June 7th. The stock was sold at an average price of $110.78, for a total value of $382,966.46. Following the transaction, the executive now owns 82,498 shares in the company, valued at approximately $9,139,128.44. The disclosure for this sale can be found here. Insiders have sold a total of 355,312 shares of company stock worth $38,626,610 over the last quarter. 18.10% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Elastic

Institutional investors have recently added to or reduced their stakes in the stock. Asset Dedication LLC lifted its position in Elastic by 1,333.3% during the second quarter. Asset Dedication LLC now owns 301 shares of the company’s stock worth $34,000 after buying an additional 280 shares in the last quarter. GAMMA Investing LLC acquired a new stake in Elastic during the fourth quarter worth $39,000. AlphaCentric Advisors LLC acquired a new stake in Elastic during the second quarter worth $40,000. Quarry LP acquired a new stake in Elastic during the second quarter worth $40,000. Finally, Lynx Investment Advisory acquired a new stake in Elastic during the second quarter worth $43,000. Hedge funds and other 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.