Elastic (NYSE:ESTC) Receives $126.33 Average PT from Brokerages

Elastic (NYSE:ESTC) has been assigned an average recommendation of “Moderate Buy” from the twenty-four research firms that are covering the firm, Marketbeat.com reports. Five analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating on the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $126.33.

A number of research analysts have commented on the company. TD Cowen reduced their target price on Elastic from $110.00 to $80.00 and set a “hold” rating on the stock in a report on Friday, August 30th. Needham & Company LLC restated a “hold” rating on shares of Elastic in a research note on Friday, November 22nd. Oppenheimer boosted their target price on shares of Elastic from $125.00 to $140.00 and gave the company an “outperform” rating in a research note on Friday, November 22nd. Citigroup raised their price target on shares of Elastic from $136.00 to $150.00 and gave the stock a “buy” rating in a research report on Monday, November 25th. Finally, William Blair raised shares of Elastic from a “market perform” rating to an “outperform” rating in a research report on Monday, October 14th.

Elastic Stock Performance

Shares of Elastic stock opened at $110.98 on Monday. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.99 and a current ratio of 1.99. Elastic has a 1 year low of $69.00 and a 1 year high of $136.06. The firm’s 50-day simple moving average is $88.79 and its 200-day simple moving average is $97.14. The firm has a market cap of $11.50 billion, a PE ratio of 201.78 and a beta of 1.02.

Insider Activity at Elastic

In other news, CTO Shay Banon sold 150,000 shares of the firm’s stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $110.92, for a total transaction of $16,638,000.00. Following the completion of the transaction, the chief technology officer now owns 2,604,978 shares in the company, valued at approximately $288,944,159.76. This trade represents a 5.44 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Carolyn Herzog sold 11,145 shares of Elastic stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $111.34, for a total transaction of $1,240,884.30. Following the completion of the transaction, the insider now directly owns 92,011 shares in the company, valued at $10,244,504.74. This represents a 10.80 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 15.90% of the company’s stock.

Institutional Trading of Elastic

Large investors have recently added to or reduced their stakes in the business. 272 Capital LP purchased a new stake in shares of Elastic during the third quarter valued at $1,104,000. Oddo BHF Asset Management Sas purchased a new stake in Elastic during the third quarter valued at about $14,324,000. Franklin Resources Inc. boosted its holdings in shares of Elastic by 256.3% in the third quarter. Franklin Resources Inc. now owns 341,524 shares of the company’s stock worth $28,387,000 after buying an additional 245,680 shares during the period. Tidal Investments LLC increased its position in shares of Elastic by 239.1% in the third quarter. Tidal Investments LLC now owns 9,807 shares of the company’s stock worth $753,000 after acquiring an additional 6,915 shares in the last quarter. Finally, Virtu Financial LLC raised its holdings in shares of Elastic by 131.9% during the third quarter. Virtu Financial LLC now owns 4,338 shares of the company’s stock valued at $333,000 after acquiring an additional 2,467 shares during the period. 97.03% of the stock is currently owned by 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.