Elastic (NYSE:ESTC) Price Target Raised to $155.00 at Citigroup

Elastic (NYSE:ESTCFree Report) had its target price increased by Citigroup from $145.00 to $155.00 in a research note released on Monday, Benzinga reports. They currently have a buy rating on the stock.

Several other equities research analysts have also commented on the company. The Goldman Sachs Group boosted their price objective on Elastic from $93.00 to $106.00 and gave the stock a neutral rating in a research note on Friday, March 1st. Rosenblatt Securities boosted their price objective on Elastic from $105.00 to $136.00 and gave the stock a buy rating in a research note on Friday, March 1st. Needham & Company LLC reiterated a hold rating on shares of Elastic in a research note on Friday. TheStreet upgraded Elastic from a d+ rating to a c- rating in a research report on Wednesday, February 7th. Finally, Robert W. Baird dropped their price target on Elastic from $137.00 to $135.00 and set an outperform rating for the company in a research report on Tuesday, May 28th. Seven research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat.com, Elastic has a consensus rating of Moderate Buy and an average price target of $118.05.

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Elastic Price Performance

NYSE:ESTC opened at $102.76 on Monday. Elastic has a 12 month low of $57.38 and a 12 month high of $136.06. The stock has a 50 day moving average of $102.49 and a two-hundred day moving average of $108.23. The company has a current ratio of 1.87, a quick ratio of 1.87 and a debt-to-equity ratio of 0.80. The firm has a market cap of $10.36 billion, a P/E ratio of 193.89 and a beta of 0.92.

Insiders Place Their Bets

In other Elastic news, Director Steven Schuurman sold 815,000 shares of the company’s stock in a transaction on Tuesday, March 26th. The stock was sold at an average price of $97.54, for a total transaction of $79,495,100.00. Following the transaction, the director now directly owns 8,382,000 shares in the company, valued at $817,580,280. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Steven Schuurman sold 815,000 shares of the stock in a transaction on Tuesday, March 26th. The stock was sold at an average price of $97.54, for a total value of $79,495,100.00. Following the sale, the director now directly owns 8,382,000 shares in the company, valued at $817,580,280. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CTO Shay Banon sold 1,322 shares of the stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $106.23, for a total value of $140,436.06. Following the completion of the sale, the chief technology officer now owns 4,518,714 shares in the company, valued at $480,022,988.22. The disclosure for this sale can be found here. Insiders have sold 962,440 shares of company stock worth $94,535,764 over the last ninety days. Corporate insiders own 18.10% of the company’s stock.

Institutional Trading of Elastic

Several hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. increased its holdings in Elastic by 4.6% in the third quarter. Vanguard Group Inc. now owns 8,573,534 shares of the company’s stock valued at $696,514,000 after buying an additional 380,694 shares during the last quarter. International Assets Investment Management LLC purchased a new position in Elastic in the fourth quarter valued at $25,660,000. UBS Group AG increased its holdings in Elastic by 28.0% in the third quarter. UBS Group AG now owns 56,805 shares of the company’s stock valued at $4,615,000 after buying an additional 12,430 shares during the last quarter. Northern Trust Corp increased its holdings in Elastic by 3.8% in the third quarter. Northern Trust Corp now owns 372,712 shares of the company’s stock valued at $30,279,000 after buying an additional 13,587 shares during the last quarter. Finally, Rhumbline Advisers increased its holdings in Elastic by 4.5% in the third quarter. Rhumbline Advisers now owns 101,866 shares of the company’s stock valued at $8,276,000 after buying an additional 4,412 shares during the last quarter. 97.03% of the stock is currently owned by institutional investors and hedge funds.

About Elastic

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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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