Elastic N.V. (NYSE:ESTC) Given Consensus Rating of "Moderate Buy" by Analysts

Elastic N.V. (NYSE:ESTC - Get Free Report) has earned a consensus recommendation of "Moderate Buy" from the twenty-nine research firms that are presently covering the firm, Marketbeat.com reports. Eight equities research analysts have rated the stock with a hold recommendation, twenty have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month target price among brokers that have covered the stock in the last year is $113.52.

Several research analysts recently weighed in on ESTC shares. Scotiabank cut their price target on shares of Elastic from $137.00 to $95.00 and set a "sector outperform" rating on the stock in a report on Friday, May 30th. Wells Fargo & Company lowered their price objective on shares of Elastic from $150.00 to $120.00 and set an "overweight" rating on the stock in a research report on Friday, May 30th. Truist Financial lowered their price objective on shares of Elastic from $145.00 to $140.00 and set a "buy" rating on the stock in a research report on Monday, March 31st. Monness Crespi & Hardt raised shares of Elastic from a "neutral" rating to a "buy" rating and set a $111.00 price objective on the stock in a research report on Friday, June 27th. Finally, Royal Bank Of Canada lowered their price objective on shares of Elastic from $119.00 to $115.00 and set an "outperform" rating on the stock in a research report on Friday, May 30th.

Insiders Place Their Bets

In other Elastic news, insider Ken Exner sold 6,918 shares of the business's stock in a transaction that occurred on Monday, June 9th. The shares were sold at an average price of $86.91, for a total value of $601,243.38. Following the completion of the transaction, the insider owned 230,494 shares of the company's stock, valued at $20,032,233.54. The trade was a 2.91% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Ashutosh Kulkarni sold 22,901 shares of the business's stock in a transaction that occurred on Monday, June 9th. The stock was sold at an average price of $86.91, for a total transaction of $1,990,325.91. Following the completion of the transaction, the chief executive officer directly owned 454,841 shares of the company's stock, valued at approximately $39,530,231.31. This represents a 4.79% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 50,913 shares of company stock worth $4,416,324. 15.90% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Elastic

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Cloud Capital Management LLC purchased a new stake in shares of Elastic in the 1st quarter valued at $25,000. Fourth Dimension Wealth LLC purchased a new stake in shares of Elastic in the 4th quarter valued at $26,000. Signaturefd LLC boosted its stake in shares of Elastic by 53.7% in the 1st quarter. Signaturefd LLC now owns 335 shares of the company's stock valued at $30,000 after purchasing an additional 117 shares in the last quarter. North Capital Inc. purchased a new stake in shares of Elastic in the 1st quarter valued at $37,000. Finally, Smartleaf Asset Management LLC boosted its stake in shares of Elastic by 53.7% in the 1st quarter. Smartleaf Asset Management LLC now owns 435 shares of the company's stock valued at $40,000 after purchasing an additional 152 shares in the last quarter. Hedge funds and other institutional investors own 97.03% of the company's stock.

Elastic Stock Up 0.2%

ESTC traded up $0.21 during midday trading on Tuesday, hitting $86.51. The company had a trading volume of 407,080 shares, compared to its average volume of 1,542,150. The company has a market capitalization of $9.13 billion, a price-to-earnings ratio of -82.52 and a beta of 1.07. The stock's 50 day moving average price is $86.49 and its 200 day moving average price is $93.10. Elastic has a 52 week low of $69.00 and a 52 week high of $118.84. The company has a quick ratio of 1.92, a current ratio of 1.92 and a debt-to-equity ratio of 0.61.

Elastic (NYSE:ESTC - Get Free Report) last issued its quarterly earnings data on Thursday, May 29th. The company reported $0.47 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.37 by $0.10. Elastic had a negative net margin of 7.29% and a negative return on equity of 4.46%. The firm had revenue of $388.43 million during the quarter, compared to analysts' expectations of $380.61 million. During the same period last year, the company earned $0.21 earnings per share. The business's revenue was up 15.9% on a year-over-year basis. On average, research analysts anticipate that Elastic will post -0.77 earnings per share for the current fiscal year.

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.