Elastic (NYSE:ESTC) Given New $107.00 Price Target at Guggenheim

Elastic (NYSE:ESTCFree Report) had its price target decreased by Guggenheim from $136.00 to $107.00 in a research note released on Friday morning,Benzinga reports. Guggenheim currently has a buy rating on the stock.

Other research analysts have also issued reports about the company. Wall Street Zen upgraded Elastic from a “hold” rating to a “buy” rating in a research note on Friday. Canaccord Genuity Group increased their price objective on shares of Elastic from $130.00 to $135.00 and gave the company a “buy” rating in a research note on Friday, February 28th. Cantor Fitzgerald reduced their price objective on shares of Elastic from $109.00 to $92.00 and set a “neutral” rating for the company in a report on Friday. DA Davidson lowered their target price on shares of Elastic from $115.00 to $75.00 and set a “neutral” rating on the stock in a research note on Monday, April 14th. Finally, TD Securities cut their price target on shares of Elastic from $125.00 to $105.00 and set a “hold” rating for the company in a research note on Wednesday, May 21st. Seven research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $114.67.

Check Out Our Latest Stock Report on Elastic

Elastic Stock Down 12.0%

Shares of ESTC opened at $80.95 on Friday. 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 50-day simple moving average of $85.51 and a 200-day simple moving average of $97.62. Elastic has a 52 week low of $69.00 and a 52 week high of $123.96. The firm has a market capitalization of $8.45 billion, a P/E ratio of 147.18 and a beta of 1.20.

Elastic (NYSE:ESTCGet Free Report) last posted its quarterly earnings results on Thursday, May 29th. The company reported $0.47 EPS for the quarter, beating the consensus estimate of $0.37 by $0.10. Elastic had a negative return on equity of 13.20% and a net margin of 4.39%. The firm had revenue of $388.43 million during the quarter, compared to analysts’ expectations of $380.61 million. During the same quarter in the prior year, the firm posted $0.21 EPS. The company’s revenue for the quarter was up 15.9% on a year-over-year basis. On average, equities research analysts expect that Elastic will post -0.77 earnings per share for the current year.

Insiders Place Their Bets

In other Elastic news, insider Carolyn Herzog sold 3,334 shares of the business’s stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $90.78, for a total value of $302,660.52. Following the completion of the transaction, the insider now directly owns 84,152 shares of the company’s stock, valued at approximately $7,639,318.56. The trade was a 3.81% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CTO Shay Banon sold 25,668 shares of the company’s stock in a transaction that occurred on Sunday, March 2nd. The stock was sold at an average price of $112.53, for a total transaction of $2,888,420.04. Following the transaction, the chief technology officer now owns 2,408,541 shares in the company, valued at $271,033,118.73. The trade was a 1.05% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 198,304 shares of company stock valued at $20,847,452. 15.90% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of ESTC. Geneos Wealth Management Inc. acquired a new stake in shares of Elastic in the 4th quarter valued at $25,000. SBI Securities Co. Ltd. acquired a new position in shares of Elastic during the fourth quarter valued at $25,000. Cloud Capital Management LLC bought a new position in Elastic in the first quarter valued at about $25,000. Fourth Dimension Wealth LLC bought a new position in Elastic in the fourth quarter valued at about $26,000. Finally, Venturi Wealth Management LLC increased its position in Elastic by 793.3% in the fourth quarter. Venturi Wealth Management LLC now owns 268 shares of the company’s stock worth $27,000 after purchasing an additional 238 shares during the period. Institutional investors and hedge funds own 97.03% of the company’s stock.

About Elastic

(Get Free Report)

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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