Elastic - ESTC Stock Forecast, Price & News

Elastic N.V., a search company, delivers technology 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 perform search, analysis, and visualization. The company's Elastic Stack product portfolio comprises Elasticsearch, a distributed, real-time search and analytics engine, and data store for various types of data, including textual, numerical, geospatial, structured, and unstructured; Kibana, a user interface, management, and configuration interface for the Elastic Stack; Beats, a single-purpose data shippers for sending data from edge machines to Elasticsearch or Logstash; Elastic Agent that offers integrated host protection and central management services; and Logstash, a data processing pipeline for ingesting data into Elasticsearch or other storage systems. It also provides software solutions on the Elastic Stack that address cases, including app search, workplace search, logging, metrics, application performance management, and synthetic monitoring. The company's platform solutions provide new capabilities that helps users to combine the benefits of the Elastic Stack. The company was incorporated in 2012 and is headquartered in Mountain View, California.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the company. Piper Sandler decreased their price target on Elastic from $155.00 to $85.00 and set an "overweight" rating for the company in a research note on Thursday, June 2nd. Monness Crespi & Hardt lowered Elastic from a "buy" rating to a "neutral" rating in a report on Thursday, August 11th. William Blair assumed coverage on shares of Elastic in a research note on Monday, April 25th. They set an "outperform" rating for the company. Canaccord Genuity Group began coverage on shares of Elastic in a report on Thursday, July 7th. They issued a "buy" rating on the stock. Finally, Barclays raised their target price on Elastic from $90.00 to $105.00 and gave the stock an "overweight" rating in a report on Tuesday. Four investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $125.71.

Elastic Stock Up 0.3 %

NYSE:ESTC traded up $0.27 during mid-day trading on Thursday, reaching $80.87. The stock had a trading volume of 645,834 shares, compared to its average volume of 1,396,601. The stock's 50 day simple moving average is $75.69 and its two-hundred day simple moving average is $78.23. Elastic has a 1-year low of $50.74 and a 1-year high of $189.84. The company has a market capitalization of $7.67 billion, a price-to-earnings ratio of -36.76 and a beta of 1.17. The company has a debt-to-equity ratio of 1.36, a current ratio of 1.96 and a quick ratio of 1.96.

Elastic (NYSE:ESTC - Get Rating) last issued its earnings results on Wednesday, June 1st. The company reported ($0.64) earnings per share for the quarter, missing the consensus estimate of ($0.56) by ($0.08). The company had revenue of $239.36 million during the quarter, compared to analyst estimates of $232.38 million. Elastic had a negative return on equity of 39.42% and a negative net margin of 23.64%. Elastic's quarterly revenue was up 34.8% on a year-over-year basis. During the same period in the prior year, the business earned ($0.44) earnings per share. Equities analysts anticipate that Elastic will post -1.92 EPS for the current year.

Insider Buying and Selling at Elastic

In other Elastic news, CEO Ashutosh Kulkarni sold 3,690 shares of Elastic stock in a transaction on Thursday, June 9th. The stock was sold at an average price of $75.82, for a total transaction of $279,775.80. Following the sale, the chief executive officer now owns 133,622 shares of the company's stock, valued at approximately $10,131,220.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Elastic news, CEO Ashutosh Kulkarni sold 3,690 shares of the firm's stock in a transaction dated Thursday, June 9th. The shares were sold at an average price of $75.82, for a total transaction of $279,775.80. Following the transaction, the chief executive officer now owns 133,622 shares of the company's stock, valued at approximately $10,131,220.04. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Janesh Moorjani sold 2,663 shares of the stock in a transaction that occurred on Thursday, June 9th. The shares were sold at an average price of $75.82, for a total transaction of $201,908.66. Following the completion of the transaction, the chief financial officer now owns 78,924 shares of the company's stock, valued at $5,984,017.68. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 12,603 shares of company stock worth $937,184. 18.90% of the stock is owned by company insiders.