Elastic (NYSE:ESTC) Given Consensus Rating of “Moderate Buy” by Brokerages

Elastic (NYSE:ESTC) has earned an average recommendation of “Moderate Buy” from the twenty-one ratings firms that are currently covering the company, MarketBeat Ratings reports. Six analysts have rated the stock with a hold recommendation and fifteen have issued a buy recommendation on the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $118.05.

Several research firms have recently commented on ESTC. Canaccord Genuity Group lowered their target price on Elastic from $130.00 to $125.00 and set a “buy” rating for the company in a research note on Friday, May 31st. UBS Group initiated coverage on Elastic in a report on Wednesday, May 22nd. They set a “buy” rating and a $135.00 price objective for the company. Stifel Nicolaus cut their target price on shares of Elastic from $130.00 to $120.00 and set a “buy” rating on the stock in a research report on Friday, May 31st. Barclays lowered their price target on shares of Elastic from $128.00 to $117.00 and set an “equal weight” rating for the company in a research report on Friday, May 31st. Finally, Robert W. Baird cut their price objective on shares of Elastic from $137.00 to $135.00 and set an “outperform” rating on the stock in a report on Tuesday, May 28th.

Insider Transactions at Elastic

In related news, CTO Shay Banon sold 5,260 shares of the stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $109.89, for a total transaction of $578,021.40. Following the completion of the sale, the chief technology officer now directly owns 4,545,856 shares of the company’s stock, valued at approximately $499,544,115.84. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, CTO Shay Banon sold 5,260 shares of the company’s stock in a transaction on Monday, June 10th. The shares were sold at an average price of $109.89, for a total value of $578,021.40. Following the completion of the transaction, the chief technology officer now directly owns 4,545,856 shares of the company’s stock, valued at approximately $499,544,115.84. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Ashutosh Kulkarni sold 9,664 shares of the stock in a transaction dated Monday, June 24th. The stock was sold at an average price of $109.88, for a total value of $1,061,880.32. Following the transaction, the chief executive officer now owns 452,297 shares of the company’s stock, valued at approximately $49,698,394.36. The disclosure for this sale can be found here. Insiders have sold a total of 355,312 shares of company stock valued at $38,626,610 over the last 90 days. 18.10% of the stock is owned by company insiders.

Hedge Funds Weigh In On Elastic

Large investors have recently bought and sold shares of the company. Rakuten Securities Inc. acquired a new stake in shares of Elastic in the fourth quarter valued at approximately $25,000. GAMMA Investing LLC bought a new stake in Elastic during the 4th quarter worth about $39,000. Lynx Investment Advisory acquired a new position in shares of Elastic during the 2nd quarter worth about $43,000. Cypress Capital Management LLC WY bought a new position in shares of Elastic in the 4th quarter valued at about $45,000. Finally, Allspring Global Investments Holdings LLC acquired a new stake in shares of Elastic in the first quarter valued at about $64,000. Institutional investors and hedge funds own 97.03% of the company’s stock.

Elastic Trading Up 4.6 %

ESTC opened at $120.61 on Friday. Elastic has a 1-year low of $57.38 and a 1-year high of $136.06. The stock has a market capitalization of $12.27 billion, a PE ratio of 227.57 and a beta of 0.98. The company has a current ratio of 1.76, a quick ratio of 1.76 and a debt-to-equity ratio of 0.77. The firm has a 50-day moving average price of $109.56 and a two-hundred day moving average price of $110.59.

Elastic (NYSE:ESTC) last released its quarterly earnings results on Thursday, May 30th. The company reported ($0.39) EPS for the quarter, missing the consensus estimate of ($0.36) by ($0.03). Elastic had a net margin of 4.87% and a negative return on equity of 20.83%. The company had revenue of $335.00 million for the quarter, compared to the consensus estimate of $329.15 million. As a group, equities analysts anticipate that Elastic will post -1.12 earnings per share for the current fiscal year.

About Elastic

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.