Jefferies Financial Group Issues Pessimistic Forecast for Elastic (NYSE:ESTC) Stock Price

Elastic (NYSE:ESTC) had its price objective decreased by equities research analysts at Jefferies Financial Group from $125.00 to $110.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm presently has a “buy” rating on the stock. Jefferies Financial Group’s price target indicates a potential upside of 44.54% from the company’s current price.

ESTC has been the topic of a number of other reports. Piper Sandler boosted their price objective on shares of Elastic from $130.00 to $135.00 and gave the company an “overweight” rating in a report on Friday, February 28th. Truist Financial cut their price target on shares of Elastic from $145.00 to $140.00 and set a “buy” rating on the stock in a report on Monday, March 31st. Wedbush lowered shares of Elastic from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, December 18th. Robert W. Baird lifted their price objective on Elastic from $135.00 to $140.00 and gave the company an “outperform” rating in a research note on Friday, February 28th. Finally, Rosenblatt Securities reissued a “buy” rating and issued a $130.00 price target on shares of Elastic in a report on Tuesday, February 25th. Seven investment analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Elastic has an average rating of “Moderate Buy” and an average price target of $130.09.

Elastic Trading Down 0.0 %

NYSE:ESTC traded down $0.04 during midday trading on Monday, hitting $76.10. 846,777 shares of the company traded hands, compared to its average volume of 1,339,020. The company has a current ratio of 1.99, a quick ratio of 1.99 and a debt-to-equity ratio of 0.70. The firm’s fifty day moving average is $103.65 and its 200-day moving average is $96.68. The firm has a market capitalization of $7.95 billion, a P/E ratio of 139.84 and a beta of 1.19. Elastic has a 12-month low of $69.00 and a 12-month high of $123.96.

Elastic (NYSE:ESTC) last released its quarterly earnings data on Thursday, February 27th. The company reported ($0.01) earnings per share for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.48). The business had revenue of $382.08 million during the quarter, compared to analysts’ expectations of $368.85 million. Elastic had a negative return on equity of 13.20% and a net margin of 4.39%. On average, sell-side analysts predict that Elastic will post -0.77 EPS for the current year.

Insider Transactions at Elastic

In other news, CEO Ashutosh Kulkarni sold 18,735 shares of the firm’s stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $90.77, for a total value of $1,700,575.95. Following the transaction, the chief executive officer now directly owns 376,591 shares in the company, valued at approximately $34,183,165.07. This trade represents a 4.74 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CTO Shay Banon sold 140,129 shares of the business’s stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $106.68, for a total transaction of $14,948,961.72. Following the sale, the chief technology officer now directly owns 2,254,978 shares of the company’s stock, valued at approximately $240,561,053.04. This represents a 5.85 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 198,304 shares of company stock valued at $20,847,452 over the last 90 days. Corporate insiders own 15.90% of the company’s stock.

Hedge Funds Weigh In On Elastic

Large investors have recently bought and sold shares of the business. Slow Capital Inc. bought a new position in shares of Elastic in the fourth quarter worth $5,039,000. Wealth Effects LLC raised its position in shares of Elastic by 25.4% during the 4th quarter. Wealth Effects LLC now owns 28,800 shares of the company’s stock worth $2,854,000 after buying an additional 5,830 shares in the last quarter. Bangor Savings Bank acquired a new position in shares of Elastic during the fourth quarter valued at approximately $1,657,000. Smith Group Asset Management LLC acquired a new stake in Elastic during the fourth quarter valued at approximately $3,408,000. Finally, Nisa Investment Advisors LLC grew its holdings in shares of Elastic by 3,442.7% during the fourth quarter. Nisa Investment Advisors LLC now owns 14,525 shares of the company’s stock valued at $1,439,000 after buying an additional 14,115 shares in the last quarter. Institutional investors own 97.03% of the company’s stock.

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.