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

Shares of Elastic N.V. (NYSE:ESTC - Get Free Report) have been given an average recommendation of "Moderate Buy" by the twenty-eight ratings firms that are currently covering the stock, Marketbeat reports. Eight investment analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $113.63.

A number of analysts have recently issued reports on the stock. TD Securities lowered their target price on shares of Elastic from $125.00 to $105.00 and set a "hold" rating for the company in a research note on Wednesday, May 21st. Piper Sandler lowered their price objective on shares of Elastic from $135.00 to $120.00 and set an "overweight" rating for the company in a research note on Friday, May 30th. Morgan Stanley reduced their target price on shares of Elastic from $140.00 to $120.00 and set an "overweight" rating for the company in a report on Wednesday, April 16th. Royal Bank Of Canada dropped their target price on Elastic from $119.00 to $115.00 and set an "outperform" rating on the stock in a research report on Friday, May 30th. Finally, Wedbush cut their price target on Elastic from $135.00 to $110.00 and set an "outperform" rating for the company in a research note on Friday, May 30th.

Elastic Trading Up 0.3%

NYSE ESTC traded up $0.21 on Friday, hitting $82.21. 1,387,951 shares of the stock were exchanged, compared to its average volume of 1,525,852. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.92 and a current ratio of 1.92. The stock has a fifty day moving average price of $85.40 and a two-hundred day moving average price of $95.40. The firm has a market capitalization of $8.68 billion, a P/E ratio of -78.30 and a beta of 1.07. Elastic has a 52-week low of $69.00 and a 52-week high of $123.96.

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

Insider Activity at Elastic

In related news, insider Carolyn Herzog sold 5,702 shares of Elastic stock in a transaction dated Monday, June 9th. The stock was sold at an average price of $86.91, for a total value of $495,560.82. Following the completion of the transaction, the insider now owns 93,985 shares in the company, valued at approximately $8,168,236.35. This trade represents a 5.72% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, 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 transaction, the insider now owns 230,494 shares of the company's stock, valued at $20,032,233.54. This trade represents a 2.91% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 53,413 shares of company stock valued at $4,720,774 in the last 90 days. Corporate insiders own 15.90% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. SBI Securities Co. Ltd. purchased a new stake in Elastic during the fourth quarter worth about $25,000. Cloud Capital Management LLC bought a new position in shares of Elastic in the 1st quarter worth about $25,000. Fourth Dimension Wealth LLC bought a new stake in Elastic in the 4th quarter valued at about $26,000. Venturi Wealth Management LLC grew its stake in shares of Elastic by 793.3% in the 4th quarter. Venturi Wealth Management LLC now owns 268 shares of the company's stock worth $27,000 after purchasing an additional 238 shares during the last quarter. Finally, Smartleaf Asset Management LLC increased its position in shares of Elastic by 126.4% in the fourth quarter. Smartleaf Asset Management LLC now owns 283 shares of the company's stock worth $28,000 after acquiring an additional 158 shares in the last quarter. 97.03% of the stock is owned by hedge funds and other 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.