Analysts Set Elastic (NYSE:ESTC) Target Price at $111.26

Shares of Elastic (NYSE:ESTC - Get Free Report) have been given an average recommendation of "Moderate Buy" by the twenty-one ratings firms that are currently covering the stock, MarketBeat Ratings reports. Seven investment analysts have rated the stock with a hold recommendation and fourteen have issued a buy recommendation on the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $111.26.

A number of research analysts have issued reports on the company. Rosenblatt Securities upped their price objective on Elastic from $105.00 to $136.00 and gave the company a "buy" rating in a research note on Friday, March 1st. Scotiabank reduced their price objective on Elastic from $185.00 to $154.00 and set a "sector outperform" rating for the company in a research note on Friday, March 1st. The Goldman Sachs Group upped their price objective on Elastic from $93.00 to $106.00 and gave the company a "neutral" rating in a research note on Friday, March 1st. Truist Financial upped their price objective on Elastic from $130.00 to $140.00 and gave the company a "buy" rating in a research note on Tuesday, February 20th. Finally, TheStreet upgraded Elastic from a "d+" rating to a "c-" rating in a research note on Wednesday, February 7th.

Elastic Stock Up 0.9 %

Elastic stock traded up $0.88 during trading on Friday, hitting $96.19. 1,566,720 shares of the company were exchanged, compared to its average volume of 905,544. The business's 50 day moving average is $108.93 and its 200 day moving average is $102.09. Elastic has a 52 week low of $54.06 and a 52 week high of $136.06. The company has a market capitalization of $9.70 billion, a P/E ratio of 209.11 and a beta of 0.94. The company has a current ratio of 1.87, a quick ratio of 1.87 and a debt-to-equity ratio of 0.80.

Elastic (NYSE:ESTC - Get Free Report) last announced its quarterly earnings results on Thursday, February 29th. The company reported ($0.27) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.28) by $0.01. Elastic had a negative return on equity of 23.94% and a net margin of 4.63%. The business had revenue of $327.96 million during the quarter, compared to the consensus estimate of $320.48 million. Analysts predict that Elastic will post -1.13 earnings per share for the current year.

Insider Buying and Selling

In other Elastic news, CTO Shay Banon sold 1,322 shares of the firm's stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $106.23, for a total value of $140,436.06. Following the sale, the chief technology officer now owns 4,518,714 shares of the company's stock, valued at approximately $480,022,988.22. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Elastic news, CTO Shay Banon sold 1,322 shares of the firm's stock in a transaction dated Tuesday, March 12th. The stock was sold at an average price of $106.23, for a total value of $140,436.06. Following the sale, the chief technology officer now owns 4,518,714 shares of the company's stock, valued at approximately $480,022,988.22. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Steven Schuurman sold 815,000 shares of the firm's stock in a transaction dated Tuesday, March 26th. The shares were sold at an average price of $97.54, for a total value of $79,495,100.00. Following the completion of the sale, the director now directly owns 8,382,000 shares in the company, valued at approximately $817,580,280. The disclosure for this sale can be found here. In the last quarter, insiders have sold 962,440 shares of company stock valued at $94,535,764. Corporate insiders own 18.10% of the company's stock.

Institutional Trading of Elastic

Several institutional investors and hedge funds have recently modified their holdings of the business. Cambridge Investment Research Advisors Inc. lifted its position in Elastic by 17.2% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 5,780 shares of the company's stock worth $514,000 after buying an additional 848 shares during the last quarter. HighTower Advisors LLC lifted its position in Elastic by 9.5% in the 1st quarter. HighTower Advisors LLC now owns 6,472 shares of the company's stock worth $576,000 after buying an additional 564 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in Elastic in the 1st quarter worth approximately $295,000. Rhumbline Advisers lifted its position in Elastic by 3.2% in the 1st quarter. Rhumbline Advisers now owns 72,555 shares of the company's stock worth $6,454,000 after buying an additional 2,274 shares during the last quarter. Finally, BlackRock Inc. lifted its position in Elastic by 4.8% in the 1st quarter. BlackRock Inc. now owns 5,616,149 shares of the company's stock worth $499,557,000 after buying an additional 259,742 shares during the last quarter. Hedge funds and other institutional investors own 97.03% of the company's stock.

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.