Elastic N.V. (NYSE:ESTC) Receives Average Recommendation of "Moderate Buy" from Brokerages

Key Points

• Elastic N.V. has received an average recommendation of "Moderate Buy" from thirty-one analysts, with a consensus price target of $120.20 per share.
• Recent brokerage actions include Jefferies raising the target price for Elastic from $110.00 to $125.00 and Stifel Nicolaus raising theirs from $112.00 to $134.00, both maintaining "buy" ratings.
• Insider trading activity is noted, with significant stock sales by executives, including a total of 50,913 shares sold over the last 90 days.

Elastic N.V. (NYSE:ESTC - Get Free Report) has earned a consensus rating of "Moderate Buy" from the thirty-one ratings firms that are covering the company, MarketBeat reports. Nine equities research analysts have rated the stock with a hold recommendation, twenty-one have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $120.20.

Several brokerages recently weighed in on ESTC. Cantor Fitzgerald reiterated a "neutral" rating on shares of Elastic in a research report on Friday. Rosenblatt Securities reissued a "buy" rating and set a $130.00 target price on shares of Elastic in a research note on Friday, August 29th. Jefferies Financial Group raised their target price on shares of Elastic from $110.00 to $125.00 and gave the company a "buy" rating in a research note on Friday. DA Davidson initiated coverage on shares of Elastic in a research note on Friday, August 29th. They set a "neutral" rating and a $105.00 target price on the stock. Finally, Stifel Nicolaus raised their target price on shares of Elastic from $112.00 to $134.00 and gave the company a "buy" rating in a research note on Friday, August 29th.

Elastic Trading Down 0.1%

Shares of NYSE:ESTC opened at $84.96 on Wednesday. The company has a market cap of $9.03 billion, a PE ratio of -106.19 and a beta of 1.04. The company's 50-day moving average price is $82.81 and its 200 day moving average price is $87.45. Elastic has a fifty-two week low of $69.00 and a fifty-two 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.

Insider Activity

In other news, CRO Mark Eugene Dodds sold 5,514 shares of Elastic 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 $479,221.74. Following the transaction, the executive owned 165,443 shares of the company's stock, valued at $14,378,651.13. The trade was a 3.23% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Ken Exner sold 6,918 shares of Elastic 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 $601,243.38. Following the completion of the transaction, the insider directly owned 230,494 shares in the company, valued at $20,032,233.54. This represents a 2.91% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 50,913 shares of company stock worth $4,416,324 in the last 90 days. 12.70% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Elastic

Hedge funds have recently made changes to their positions in the business. Fourth Dimension Wealth LLC acquired a new position in shares of Elastic in the 4th quarter worth approximately $26,000. Cloud Capital Management LLC acquired a new position in shares of Elastic in the 1st quarter worth approximately $25,000. Signaturefd LLC increased its position in shares of Elastic by 53.7% in the first quarter. Signaturefd LLC now owns 335 shares of the company's stock worth $30,000 after acquiring an additional 117 shares in the last quarter. Geneos Wealth Management Inc. purchased a new position in shares of Elastic in the second quarter worth approximately $31,000. Finally, North Capital Inc. purchased a new position in shares of Elastic in the first quarter worth approximately $37,000. Institutional investors and hedge funds 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.

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