Elastic (NYSE:ESTC - Free Report) had its target price trimmed by Barclays from $124.00 to $105.00 in a research note published on Friday morning,Benzinga reports. The firm currently has an overweight rating on the stock.
Several other research analysts have also commented on ESTC. Oppenheimer dropped their price target on shares of Elastic from $140.00 to $120.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 22nd. Wall Street Zen upgraded shares of Elastic from a "hold" rating to a "buy" rating in a research note on Friday. Robert W. Baird increased their price target on shares of Elastic from $135.00 to $140.00 and gave the stock an "outperform" rating in a research note on Friday, February 28th. Truist Financial dropped their price objective on Elastic from $145.00 to $140.00 and set a "buy" rating on the stock in a research note on Monday, March 31st. Finally, UBS Group boosted their price objective on Elastic from $140.00 to $148.00 and gave the stock a "buy" rating in a research report on Friday, February 28th. Seven analysts have rated the stock with a hold rating, twenty have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $114.67.
Check Out Our Latest Research Report on ESTC
Elastic Stock Down 12.0%
Shares of ESTC traded down $11.08 during mid-day trading on Friday, hitting $80.95. 8,817,353 shares of the company's stock were exchanged, compared to its average volume of 1,484,527. The firm has a fifty day moving average of $85.51 and a two-hundred day moving average of $97.74. Elastic has a twelve month low of $69.00 and a twelve month high of $123.96. The stock has a market cap of $8.45 billion, a price-to-earnings ratio of 147.18 and a beta of 1.20. The company has a quick ratio of 1.99, a current ratio of 1.99 and a debt-to-equity ratio of 0.70.
Elastic (NYSE:ESTC - Get Free Report) last announced its quarterly earnings results on Thursday, May 29th. The company reported $0.47 EPS for the quarter, topping the consensus estimate of $0.37 by $0.10. Elastic had a net margin of 4.39% and a negative return on equity of 13.20%. The company had revenue of $388.43 million for the quarter, compared to analyst estimates of $380.61 million. During the same quarter in the prior year, the business posted $0.21 EPS. Elastic's quarterly revenue was up 15.9% on a year-over-year basis. On average, sell-side analysts forecast that Elastic will post -0.77 earnings per share for the current year.
Insider Transactions at Elastic
In related news, insider Carolyn Herzog sold 3,334 shares of the stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $90.78, for a total transaction of $302,660.52. Following the completion of the sale, the insider now owns 84,152 shares in the company, valued at $7,639,318.56. This trade represents a 3.81% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Ashutosh Kulkarni sold 5,000 shares of the stock in a transaction dated Tuesday, March 25th. The stock was sold at an average price of $102.64, for a total transaction of $513,200.00. Following the sale, the chief executive officer now owns 371,591 shares of the company's stock, valued at $38,140,100.24. This trade represents a 1.33% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 172,636 shares of company stock valued at $17,959,032. Company insiders own 15.90% of the company's stock.
Institutional Investors Weigh In On Elastic
Hedge funds have recently made changes to their positions in the company. Geneos Wealth Management Inc. acquired a new stake in shares of Elastic during the 4th quarter worth about $25,000. SBI Securities Co. Ltd. acquired a new stake in Elastic in the 4th quarter valued at about $25,000. Cloud Capital Management LLC acquired a new stake in Elastic in the 1st quarter valued at about $25,000. Fourth Dimension Wealth LLC acquired a new stake in Elastic in the 4th quarter valued at about $26,000. Finally, Venturi Wealth Management LLC increased its position in Elastic by 793.3% in the 4th quarter. Venturi Wealth Management LLC now owns 268 shares of the company's stock valued at $27,000 after acquiring an additional 238 shares in the last quarter. Institutional investors and hedge funds own 97.03% of the company's stock.
Elastic Company Profile
(
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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.
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