Elastic N.V. (NYSE:ESTC) Receives $113.63 Consensus PT from Analysts

Shares of Elastic N.V. (NYSE:ESTC) have been assigned a consensus recommendation of “Moderate Buy” from the twenty-eight brokerages that are currently covering the firm, Marketbeat reports. Eight research analysts have rated the stock with a hold recommendation, nineteen have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $113.63.

ESTC has been the subject of a number of recent research reports. Morgan Stanley decreased their price target on shares of Elastic from $140.00 to $120.00 and set an “overweight” rating for the company in a research note on Wednesday, April 16th. Wall Street Zen upgraded shares of Elastic from a “hold” rating to a “buy” rating in a research note on Friday, May 30th. Royal Bank Of Canada reduced their price objective on shares of Elastic from $119.00 to $115.00 and set an “outperform” rating for the company in a research report on Friday, May 30th. Rosenblatt Securities reduced their price objective on shares of Elastic from $140.00 to $130.00 and set a “buy” rating for the company in a research report on Friday, May 30th. Finally, DA Davidson reduced their price objective on shares of Elastic from $115.00 to $75.00 and set a “neutral” rating for the company in a research report on Monday, April 14th.

Elastic Trading Down 1.5%

NYSE ESTC opened at $82.15 on Friday. The firm has a 50 day simple moving average of $85.34 and a 200-day simple moving average of $95.60. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.92 and a current ratio of 1.92. Elastic has a one year low of $69.00 and a one year high of $123.96. The firm has a market cap of $8.67 billion, a price-to-earnings ratio of -78.24 and a beta of 1.07.

Elastic (NYSE:ESTC) last issued its quarterly 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 net margin of 7.29% and a negative return on equity of 4.46%. The company had revenue of $388.43 million during the quarter, compared to the consensus estimate of $380.61 million. During the same quarter in the previous year, the firm earned $0.21 earnings per share. The firm’s quarterly revenue was up 15.9% on a year-over-year basis. Equities research analysts anticipate that Elastic will post -0.77 EPS for the current fiscal year.

Insider Buying and Selling at Elastic

In other Elastic news, CRO Mark Eugene Dodds sold 5,514 shares of the business’s stock in a transaction on Monday, June 9th. The shares were sold at an average price of $86.91, for a total transaction of $479,221.74. Following the sale, the executive now directly owns 165,443 shares in the company, valued at approximately $14,378,651.13. The trade was a 3.23% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Ashutosh Kulkarni sold 5,000 shares of the business’s stock in a transaction on Tuesday, March 25th. The stock was sold at an average price of $102.64, for a total transaction of $513,200.00. Following the sale, 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 ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 53,413 shares of company stock valued at $4,720,774. 15.90% of the stock is owned by company insiders.

Institutional Investors Weigh In On Elastic

Several institutional investors have recently made changes to their positions in the stock. Signaturefd LLC boosted its position in shares of Elastic by 53.7% during the 1st quarter. Signaturefd LLC now owns 335 shares of the company’s stock worth $30,000 after purchasing an additional 117 shares in the last quarter. Sigma Planning Corp grew its stake in Elastic by 3.7% in the 4th quarter. Sigma Planning Corp now owns 3,929 shares of the company’s stock valued at $389,000 after acquiring an additional 139 shares during the last quarter. Parallel Advisors LLC grew its stake in Elastic by 4.5% in the 1st quarter. Parallel Advisors LLC now owns 3,396 shares of the company’s stock valued at $303,000 after acquiring an additional 145 shares during the last quarter. Y.D. More Investments Ltd grew its stake in Elastic by 0.5% in the 1st quarter. Y.D. More Investments Ltd now owns 29,742 shares of the company’s stock valued at $2,756,000 after acquiring an additional 145 shares during the last quarter. Finally, CIBC Asset Management Inc grew its stake in Elastic by 5.2% in the 4th quarter. CIBC Asset Management Inc now owns 3,053 shares of the company’s stock valued at $302,000 after acquiring an additional 151 shares during the last quarter. 97.03% of the stock is currently owned by hedge funds and other institutional investors.

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.