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

Shares of Elastic (NYSE:ESTC - Get Free Report) have been assigned an average recommendation of "Moderate Buy" from the twenty-seven ratings firms that are currently covering the stock, Marketbeat Ratings reports. Eight analysts have rated the stock with a hold recommendation, eighteen have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year target price among brokerages that have covered the stock in the last year is $125.96.

A number of research firms have commented on ESTC. Truist Financial decreased their price target on Elastic from $145.00 to $140.00 and set a "buy" rating on the stock in a report on Monday, March 31st. Guggenheim raised their price objective on Elastic from $130.00 to $136.00 and gave the company a "buy" rating in a research report on Friday, February 28th. DA Davidson cut their price objective on Elastic from $115.00 to $75.00 and set a "neutral" rating for the company in a research report on Monday, April 14th. UBS Group raised their price objective on Elastic from $140.00 to $148.00 and gave the company a "buy" rating in a research report on Friday, February 28th. Finally, Canaccord Genuity Group raised their price objective on Elastic from $130.00 to $135.00 and gave the company a "buy" rating in a research report on Friday, February 28th.

Insider Buying and Selling at Elastic

In other Elastic news, CRO Mark Eugene Dodds sold 2,755 shares of the business's stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $90.77, for a total transaction of $250,071.35. Following the completion of the transaction, the executive now 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Ashutosh Kulkarni sold 18,735 shares of the business's stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $90.77, for a total value of $1,700,575.95. Following the transaction, the chief executive officer now owns 376,591 shares of the company's stock, valued at $34,183,165.07. This trade represents a 4.74% 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 over the last 90 days. Company insiders own 15.90% of the company's stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of ESTC. Barclays PLC boosted its position in shares of Elastic by 56.2% during the third quarter. Barclays PLC now owns 153,155 shares of the company's stock valued at $11,757,000 after buying an additional 55,084 shares during the period. Nisa Investment Advisors LLC raised its stake in shares of Elastic by 3,442.7% during the fourth quarter. Nisa Investment Advisors LLC now owns 14,525 shares of the company's stock valued at $1,439,000 after acquiring an additional 14,115 shares in the last quarter. Janney Montgomery Scott LLC bought a new stake in shares of Elastic during the fourth quarter valued at approximately $202,000. Geneos Wealth Management Inc. bought a new stake in shares of Elastic during the fourth quarter valued at approximately $25,000. Finally, KBC Group NV raised its stake in shares of Elastic by 42.2% during the fourth quarter. KBC Group NV now owns 3,435 shares of the company's stock valued at $340,000 after acquiring an additional 1,020 shares in the last quarter. Hedge funds and other institutional investors own 97.03% of the company's stock.

Elastic Price Performance

NYSE:ESTC traded down $0.55 on Monday, reaching $92.30. 1,521,952 shares of the company's stock traded hands, compared to its average volume of 1,466,946. 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 stock has a 50-day simple moving average of $86.22 and a 200-day simple moving average of $97.71. The firm has a market cap of $9.64 billion, a PE ratio of 167.82 and a beta of 1.20. Elastic has a 12 month low of $69.00 and a 12 month high of $123.96.

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