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

Elastic (NYSE:ESTC - Get Free Report) has earned an average recommendation of "Moderate Buy" from the twenty-seven ratings firms that are presently covering the firm, MarketBeat Ratings reports. Eight analysts have rated the stock with a hold recommendation, eighteen have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $125.96.

ESTC has been the topic of a number of recent research reports. Canaccord Genuity Group upped their target price on Elastic from $130.00 to $135.00 and gave the company a "buy" rating in a research note on Friday, February 28th. Rosenblatt Securities restated a "buy" rating and issued a $130.00 price objective on shares of Elastic in a research report on Tuesday, February 25th. Piper Sandler increased their target price on Elastic from $130.00 to $135.00 and gave the stock an "overweight" rating in a research report on Friday, February 28th. Barclays cut their price objective on Elastic from $138.00 to $124.00 and set an "overweight" rating on the stock in a report on Friday, May 16th. Finally, Robert W. Baird lifted their price target on shares of Elastic from $135.00 to $140.00 and gave the stock an "outperform" rating in a research note on Friday, February 28th.

Insider Activity at Elastic

In other news, CEO Ashutosh Kulkarni sold 5,000 shares of Elastic stock in a transaction that occurred on Tuesday, March 25th. The shares were sold at an average price of $102.64, for a total value of $513,200.00. Following the completion of the sale, the chief executive officer now directly owns 371,591 shares in the company, valued at $38,140,100.24. The trade was a 1.33% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CTO Shay Banon sold 140,129 shares of Elastic stock in a transaction that occurred 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 completion of the sale, the chief technology officer now directly owns 2,254,978 shares of the company's stock, valued at approximately $240,561,053.04. This trade represents a 5.85% decrease in their position. The disclosure for this sale can be found here. Insiders sold 198,304 shares of company stock worth $20,847,452 in the last three months. 15.90% of the stock is owned by insiders.

Institutional Trading of Elastic

Large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its stake in shares of Elastic by 1.8% in the fourth quarter. Vanguard Group Inc. now owns 9,352,108 shares of the company's stock worth $926,607,000 after acquiring an additional 168,483 shares during the period. Sylebra Capital LLC boosted its stake in Elastic by 62.6% in 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 during the period. Pictet Asset Management Holding SA boosted its stake in Elastic by 15.6% in the 4th 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 period. Massachusetts Financial Services Co. MA boosted its stake in 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 purchasing an additional 2,246,808 shares during the period. Finally, Geode Capital Management LLC boosted its stake in Elastic by 3.2% in the 4th 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 period. 97.03% of the stock is currently owned by institutional investors.

Elastic Stock Performance

NYSE:ESTC traded up $0.47 during mid-day trading on Monday, reaching $92.72. 2,611,298 shares of the stock were exchanged, compared to its average volume of 1,466,726. The company has a 50 day simple moving average of $86.22 and a 200-day simple moving average of $97.71. The stock has a market capitalization of $9.68 billion, a P/E ratio of 168.58 and a beta of 1.20. The company has a quick ratio of 1.99, a current ratio of 1.99 and a debt-to-equity ratio of 0.70. Elastic has a 1 year low of $69.00 and a 1 year high of $123.96.

Elastic (NYSE:ESTC - Get Free Report) last announced its earnings results on Thursday, February 27th. The company reported ($0.01) earnings per share for the quarter, missing the consensus estimate of $0.47 by ($0.48). Elastic had a net margin of 4.39% and a negative return on equity of 13.20%. The company had revenue of $382.08 million during the quarter, compared to analysts' expectations of $368.85 million. 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.