Analysts Set Elastic (NYSE:ESTC) Price Target at $125.96

Elastic (NYSE:ESTC - Get Free Report) has earned a consensus recommendation of "Moderate Buy" from the twenty-seven brokerages that are covering the firm, Marketbeat.com reports. Eight analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $125.96.

A number of brokerages recently issued reports on ESTC. DA Davidson reduced their price target on Elastic from $115.00 to $75.00 and set a "neutral" rating on the stock in a report on Monday, April 14th. Piper Sandler boosted their price target on Elastic from $130.00 to $135.00 and gave the company an "overweight" rating in a report on Friday, February 28th. Barclays reduced their price target on Elastic from $138.00 to $124.00 and set an "overweight" rating on the stock in a report on Friday, May 16th. Guggenheim boosted their price target on Elastic from $130.00 to $136.00 and gave the company a "buy" rating in a report on Friday, February 28th. Finally, TD Securities reduced their price target on Elastic from $125.00 to $105.00 and set a "hold" rating on the stock in a report on Wednesday, May 21st.

Insider Buying and Selling

In other Elastic news, CTO Shay Banon sold 140,129 shares of the stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $106.68, for a total transaction of $14,948,961.72. Following the sale, the chief technology officer now directly owns 2,254,978 shares in the company, valued at approximately $240,561,053.04. This trade represents a 5.85% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CRO Mark Eugene Dodds sold 2,755 shares of the stock in a transaction on Monday, March 10th. The shares were sold at an average price of $90.77, for a total value of $250,071.35. Following the transaction, the executive now directly owns 96,484 shares in the company, valued at $8,757,852.68. The trade was a 2.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 198,304 shares of company stock worth $20,847,452 in the last 90 days. Insiders own 15.90% of the company's stock.

Hedge Funds Weigh In On Elastic

Institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. raised its holdings in Elastic by 1.8% during the fourth quarter. Vanguard Group Inc. now owns 9,352,108 shares of the company's stock valued at $926,607,000 after acquiring an additional 168,483 shares during the period. Sylebra Capital LLC grew its position in Elastic by 62.6% in the fourth quarter. Sylebra Capital LLC now owns 4,561,462 shares of the company's stock worth $451,950,000 after acquiring an additional 1,756,842 shares in the last quarter. Pictet Asset Management Holding SA lifted its stake in Elastic by 15.6% in the fourth quarter. Pictet Asset Management Holding SA now owns 3,429,756 shares of the company's stock worth $339,820,000 after purchasing an additional 462,974 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its stake in Elastic by 5,437.6% in the first quarter. Massachusetts Financial Services Co. MA now owns 2,288,128 shares of the company's stock worth $203,872,000 after purchasing an additional 2,246,808 shares during the last quarter. Finally, Geode Capital Management LLC lifted its stake in Elastic by 3.2% in the fourth quarter. Geode Capital Management LLC now owns 1,439,412 shares of the company's stock worth $142,663,000 after purchasing an additional 45,076 shares during the last quarter. 97.03% of the stock is owned by institutional investors.

Elastic Trading Down 0.5%

Shares of NYSE ESTC traded down $0.50 during midday trading on Monday, reaching $91.87. The company had a trading volume of 1,351,132 shares, compared to its average volume of 1,465,973. Elastic has a one year low of $69.00 and a one year high of $123.96. 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 firm's fifty day moving average price is $86.13 and its 200-day moving average price is $97.67. The stock has a market cap of $9.59 billion, a PE ratio of 166.99 and a beta of 1.20.

Elastic (NYSE:ESTC - Get Free Report) last announced its quarterly earnings results on Thursday, February 27th. The company reported ($0.01) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.47 by ($0.48). Elastic had a net margin of 4.39% and a negative return on equity of 13.20%. The business had revenue of $382.08 million for the quarter, compared to analysts' expectations of $368.85 million. On average, equities research analysts anticipate that Elastic will post -0.77 earnings per share for the current 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.