KeyCorp Initiates Coverage on Elastic (NYSE:ESTC)

Equities research analysts at KeyCorp started coverage on shares of Elastic (NYSE:ESTCGet Free Report) in a note issued to investors on Tuesday, Marketbeat Ratings reports. The firm set a “sector weight” rating on the stock.

Several other equities analysts have also recently weighed in on the company. Canaccord Genuity Group reduced their price target on Elastic from $135.00 to $110.00 and set a “buy” rating for the company in a research report on Monday, June 2nd. Robert W. Baird dropped their target price on Elastic from $125.00 to $115.00 and set an “outperform” rating for the company in a research report on Friday, May 30th. Oppenheimer decreased their price objective on Elastic from $140.00 to $120.00 and set an “outperform” rating on the stock in a report on Tuesday, April 22nd. Stifel Nicolaus dropped their price target on shares of Elastic from $140.00 to $112.00 and set a “buy” rating for the company in a research report on Friday, May 30th. Finally, TD Securities decreased their target price on Elastic from $125.00 to $105.00 and set a “hold” rating for the company in a report on Wednesday, May 21st. Eight research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $113.63.

Check Out Our Latest Stock Analysis on Elastic

Elastic Price Performance

Elastic stock opened at $83.24 on Tuesday. The firm has a market cap of $8.69 billion, a P/E ratio of 151.35 and a beta of 1.07. 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 current ratio of 1.99 and a quick ratio of 1.99. The stock’s 50 day moving average is $84.71 and its 200 day moving average is $97.25.

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

Insider Buying and Selling at Elastic

In other Elastic news, CEO Ashutosh Kulkarni sold 5,000 shares of the business’s stock in a transaction on Tuesday, March 25th. The shares were sold at an average price of $102.64, for a total value of $513,200.00. Following the transaction, the chief executive officer now owns 371,591 shares in the company, valued at $38,140,100.24. The trade was a 1.33% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CRO Mark Eugene Dodds sold 5,514 shares of the firm’s stock in a transaction on Monday, June 9th. The stock was sold at an average price of $86.91, for a total transaction of $479,221.74. Following the transaction, the executive now directly owns 165,443 shares of the company’s stock, valued at approximately $14,378,651.13. This represents a 3.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 53,413 shares of company stock worth $4,720,774. Corporate insiders own 15.90% of the company’s stock.

Hedge Funds Weigh In On Elastic

Several large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in Elastic by 1.8% during the fourth quarter. Vanguard Group Inc. now owns 9,352,108 shares of the company’s stock valued at $926,607,000 after purchasing an additional 168,483 shares during the last quarter. Sylebra Capital LLC boosted its holdings in shares of Elastic by 62.6% in the 4th quarter. Sylebra Capital LLC now owns 4,561,462 shares of the company’s stock valued at $451,950,000 after buying an additional 1,756,842 shares during the period. Pictet Asset Management Holding SA grew its position in shares of Elastic by 15.6% during the 4th quarter. Pictet Asset Management Holding SA now owns 3,429,756 shares of the company’s stock valued at $339,820,000 after buying an additional 462,974 shares during the last quarter. Massachusetts Financial Services Co. MA raised its stake in Elastic by 5,437.6% during the first quarter. Massachusetts Financial Services Co. MA now owns 2,288,128 shares of the company’s stock worth $203,872,000 after acquiring an additional 2,246,808 shares during the period. Finally, Geode Capital Management LLC lifted its holdings in Elastic by 3.2% in the fourth quarter. Geode Capital Management LLC now owns 1,439,412 shares of the company’s stock worth $142,663,000 after acquiring an additional 45,076 shares during the last quarter. 97.03% of the stock is currently owned by institutional investors.

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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Analyst Recommendations for Elastic (NYSE:ESTC)

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