Elastic (NYSE:ESTC) Receives Average Recommendation of "Moderate Buy" from Brokerages

Shares of Elastic (NYSE:ESTC - Get Free Report) have been assigned a consensus recommendation of "Moderate Buy" from the twenty-one brokerages that are covering the firm, MarketBeat Ratings reports. Seven research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $111.26.

ESTC has been the topic of a number of recent analyst reports. Stifel Nicolaus lifted their target price on Elastic from $99.00 to $130.00 and gave the company a "buy" rating in a research report on Friday, March 1st. The Goldman Sachs Group upped their price objective on shares of Elastic from $93.00 to $106.00 and gave the stock a "neutral" rating in a research report on Friday, March 1st. TheStreet upgraded shares of Elastic from a "d+" rating to a "c-" rating in a research report on Wednesday, February 7th. Oppenheimer upped their price target on shares of Elastic from $110.00 to $130.00 and gave the stock an "outperform" rating in a report on Friday, March 1st. Finally, Rosenblatt Securities raised their price objective on Elastic from $105.00 to $136.00 and gave the company a "buy" rating in a report on Friday, March 1st.

Elastic Price Performance

Shares of Elastic stock traded down $3.02 on Thursday, reaching $108.21. 997,684 shares of the stock were exchanged, compared to its average volume of 1,301,384. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.87 and a current ratio of 1.87. The firm has a market cap of $10.91 billion, a PE ratio of 235.24 and a beta of 0.92. The firm's 50 day moving average is $102.11 and its 200-day moving average is $105.24. Elastic has a one year low of $57.38 and a one year high of $136.06.

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

Insider Buying and Selling

In other news, Director Steven Schuurman sold 815,000 shares of the business's stock in a transaction dated Tuesday, March 26th. The stock was sold at an average price of $97.54, for a total value of $79,495,100.00. Following the transaction, the director now directly owns 8,382,000 shares of the company's stock, valued at approximately $817,580,280. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Elastic news, insider Carolyn Herzog sold 2,591 shares of the firm's stock in a transaction on Monday, March 11th. The shares were sold at an average price of $103.28, for a total value of $267,598.48. Following the completion of the sale, the insider now directly owns 87,799 shares in the company, valued at $9,067,880.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Steven Schuurman sold 815,000 shares of Elastic stock in a transaction on Tuesday, March 26th. The shares were sold at an average price of $97.54, for a total transaction of $79,495,100.00. Following the completion of the sale, the director now directly owns 8,382,000 shares of the company's stock, valued at $817,580,280. The disclosure for this sale can be found here. Insiders sold 962,440 shares of company stock valued at $94,535,764 over the last quarter. Insiders own 18.10% of the company's stock.

Institutional Trading of Elastic

Several large investors have recently made changes to their positions in ESTC. Advisors Asset Management Inc. raised its holdings in Elastic by 12.7% during the first quarter. Advisors Asset Management Inc. now owns 1,053 shares of the company's stock worth $106,000 after buying an additional 119 shares during the last quarter. PNC Financial Services Group Inc. boosted its stake in Elastic by 6.6% during the 3rd quarter. PNC Financial Services Group Inc. now owns 2,284 shares of the company's stock valued at $186,000 after purchasing an additional 142 shares during the last quarter. Treasurer of the State of North Carolina increased its holdings in Elastic by 0.5% during the 3rd quarter. Treasurer of the State of North Carolina now owns 34,154 shares of the company's stock worth $2,775,000 after purchasing an additional 170 shares in the last quarter. Rakuten Securities Inc. purchased a new stake in shares of Elastic in the fourth quarter worth approximately $25,000. Finally, CWM LLC boosted its position in shares of Elastic by 5.9% during the fourth quarter. CWM LLC now owns 4,924 shares of the company's stock valued at $555,000 after buying an additional 276 shares during the last quarter. 97.03% of the stock is currently 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.