Elastic (NYSE:ESTC) Now Covered by Analysts at KeyCorp

KeyCorp began coverage on shares of Elastic (NYSE:ESTC - Free Report) in a research note released on Tuesday morning, MarketBeat.com reports. The brokerage issued a sector weight rating on the stock.

ESTC has been the topic of several other research reports. JPMorgan Chase & Co. decreased their target price on Elastic from $120.00 to $110.00 and set an "overweight" rating on the stock in a report on Friday, May 30th. Robert W. Baird decreased their price objective on shares of Elastic from $125.00 to $115.00 and set an "outperform" rating on the stock in a report on Friday, May 30th. Wall Street Zen raised shares of Elastic from a "hold" rating to a "buy" rating in a research note on Friday, May 30th. Oppenheimer decreased 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. Finally, Cantor Fitzgerald dropped their price objective on shares of Elastic from $109.00 to $92.00 and set a "neutral" rating for the company in a research report on Friday, May 30th. Eight investment analysts have rated the stock with a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $113.63.

Elastic Stock Performance

ESTC stock traded down $0.91 during mid-day trading on Tuesday, reaching $84.80. 1,987,474 shares of the stock traded hands, compared to its average volume of 1,500,379. The company has a quick ratio of 1.99, a current ratio of 1.99 and a debt-to-equity ratio of 0.70. The business has a 50-day moving average of $84.52 and a two-hundred day moving average of $97.43. The firm has a market capitalization of $8.85 billion, a PE ratio of 154.19 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 results on Thursday, May 29th. The company reported $0.47 earnings per share for the quarter, topping analysts' consensus estimates of $0.37 by $0.10. Elastic had a net margin of 4.39% and a negative return on equity of 13.20%. The firm had revenue of $388.43 million for the quarter, compared to the consensus estimate of $380.61 million. During the same quarter in the previous year, the company earned $0.21 earnings per share. The business's revenue was up 15.9% compared to the same quarter last year. As a group, equities analysts predict that Elastic will post -0.77 EPS for the current fiscal year.

Insider Buying and Selling at Elastic

In other Elastic news, 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 value of $513,200.00. Following the completion of the transaction, the chief executive officer now directly owns 371,591 shares in the company, valued at approximately $38,140,100.24. This trade represents a 1.33% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 15.90% of the company's stock.

Hedge Funds Weigh In On Elastic

A number of hedge funds and other institutional investors have recently made changes to their positions in ESTC. Massachusetts Financial Services Co. MA raised its position in shares of Elastic by 5,437.6% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 2,288,128 shares of the company's stock worth $203,872,000 after acquiring an additional 2,246,808 shares in the last quarter. Sylebra Capital LLC increased its holdings in Elastic by 62.6% during the 4th quarter. Sylebra Capital LLC now owns 4,561,462 shares of the company's stock worth $451,950,000 after purchasing an additional 1,756,842 shares in the last quarter. AQR Capital Management LLC grew its holdings in Elastic by 6,651.3% during the first quarter. AQR Capital Management LLC now owns 1,403,859 shares of the company's stock worth $122,978,000 after buying an additional 1,383,065 shares in the last quarter. Norges Bank purchased a new stake in shares of Elastic in the fourth quarter valued at about $102,485,000. Finally, Driehaus Capital Management LLC lifted its position in shares of Elastic by 1,450.8% during the 1st quarter. Driehaus Capital Management LLC now owns 880,454 shares of the company's stock worth $78,448,000 after buying an additional 823,680 shares in the last quarter. 97.03% of the stock is owned by institutional investors and hedge funds.

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.