Elastic (NYSE:ESTC - Free Report) had its price objective lowered by Robert W. Baird from $125.00 to $115.00 in a research report sent to investors on Friday,Benzinga reports. The brokerage currently has an outperform rating on the stock.
Other equities analysts also recently issued research reports about the company. Piper Sandler reduced their price target on Elastic from $135.00 to $120.00 and set an "overweight" rating for the company in a research report on Friday. Barclays reduced their price target on Elastic from $124.00 to $105.00 and set an "overweight" rating for the company in a research report on Friday. Wedbush reduced their price target on Elastic from $135.00 to $110.00 and set an "outperform" rating for the company in a research report on Friday. TD Securities reduced their price target on Elastic from $125.00 to $105.00 and set a "hold" rating for the company in a research report on Wednesday, May 21st. Finally, Morgan Stanley reduced their price target on Elastic from $140.00 to $120.00 and set an "overweight" rating for the company in a research report on Wednesday, April 16th. Seven analysts have rated the stock with a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $114.67.
View Our Latest Stock Analysis on Elastic
Elastic Stock Down 12.0%
NYSE ESTC traded down $11.08 during trading hours on Friday, reaching $80.95. 8,817,353 shares of the company's stock were exchanged, compared to its average volume of 1,484,527. The company's 50-day moving average is $85.51 and its two-hundred day moving average is $97.74. Elastic has a one year low of $69.00 and a one year high of $123.96. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.99 and a current ratio of 1.99. The company has a market capitalization of $8.45 billion, a price-to-earnings ratio of 147.18 and a beta of 1.20.
Elastic (NYSE:ESTC - Get Free Report) last posted its earnings results on Thursday, May 29th. The company reported $0.47 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.37 by $0.10. Elastic had a negative return on equity of 13.20% and a net margin of 4.39%. The business had revenue of $388.43 million during the quarter, compared to analysts' expectations of $380.61 million. During the same period in the prior year, the business earned $0.21 EPS. Elastic's revenue for the quarter was up 15.9% compared to the same quarter last year. On average, analysts forecast that Elastic will post -0.77 EPS for the current fiscal year.
Insider Buying and Selling at Elastic
In other Elastic news, CTO Shay Banon sold 140,129 shares of the firm's 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 completion of the sale, the chief technology officer now owns 2,254,978 shares of the company's stock, valued at $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 available through this hyperlink. Also, CEO Ashutosh Kulkarni sold 18,735 shares of the firm's stock in a transaction 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 sale, the chief executive officer now directly owns 376,591 shares of the company's stock, valued at $34,183,165.07. This represents a 4.74% decrease in their position. The disclosure for this sale can be found here. Insiders sold 172,636 shares of company stock valued at $17,959,032 in the last quarter. 15.90% of the stock is currently owned by insiders.
Institutional Inflows and Outflows
Several large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in Elastic by 1.8% during the 4th quarter. Vanguard Group Inc. now owns 9,352,108 shares of the company's stock worth $926,607,000 after buying an additional 168,483 shares during the period. Sylebra Capital LLC increased its position in Elastic by 62.6% during the 4th quarter. Sylebra Capital LLC now owns 4,561,462 shares of the company's stock worth $451,950,000 after buying an additional 1,756,842 shares during the period. Pictet Asset Management Holding SA increased its position in Elastic by 15.6% during the 4th quarter. Pictet Asset Management Holding SA now owns 3,429,756 shares of the company's stock worth $339,820,000 after buying an additional 462,974 shares during the period. Massachusetts Financial Services Co. MA increased its position in Elastic by 5,437.6% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 2,288,128 shares of the company's stock worth $203,872,000 after buying an additional 2,246,808 shares during the period. Finally, Geode Capital Management LLC increased its position in Elastic by 3.2% during the 4th quarter. Geode Capital Management LLC now owns 1,439,412 shares of the company's stock worth $142,663,000 after buying an additional 45,076 shares during the period. Institutional investors own 97.03% of the company's stock.
Elastic Company Profile
(
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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.
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