Elastic (NYSE:ESTC) Price Target Raised to $140.00

Elastic (NYSE:ESTC) had its price target upped by Robert W. Baird from $135.00 to $140.00 in a research note issued to investors on Friday,Benzinga reports. Robert W. Baird currently has an outperform rating on the stock.

A number of other brokerages have also recently issued reports on ESTC. Baird R W upgraded Elastic from a “hold” rating to a “strong-buy” rating in a research note on Friday, November 22nd. Canaccord Genuity Group lifted their price objective on Elastic from $110.00 to $130.00 and gave the company a “buy” rating in a research note on Friday, November 22nd. Truist Financial lifted their price objective on Elastic from $105.00 to $135.00 and gave the company a “buy” rating in a research note on Friday, November 22nd. Citigroup lifted their target price on Elastic from $136.00 to $150.00 and gave the stock a “buy” rating in a report on Monday, November 25th. Finally, Guggenheim lifted their target price on Elastic from $100.00 to $120.00 and gave the stock a “buy” rating in a report on Friday, November 22nd. Seven research 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 company. According to MarketBeat.com, Elastic has an average rating of “Moderate Buy” and an average price target of $131.09.

Elastic Trading Up 14.9 %

ESTC opened at $116.38 on Friday. The stock has a market cap of $12.06 billion, a PE ratio of 211.61 and a beta of 1.07. The company has a quick ratio of 1.99, a current ratio of 1.99 and a debt-to-equity ratio of 0.70. The business has a 50 day moving average of $106.11 and a 200-day moving average of $95.45. Elastic has a 52 week low of $69.00 and a 52 week high of $136.06.

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

Insider Buying and Selling

In related news, CEO Ashutosh Kulkarni sold 7,017 shares of the business’s stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $108.12, for a total value of $758,678.04. Following the sale, the chief executive officer now directly owns 395,326 shares in the company, valued at approximately $42,742,647.12. The trade was a 1.74 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 15.90% of the stock is owned by company insiders.

Institutional Investors Weigh In On Elastic

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ESTC. Geneos Wealth Management Inc. purchased a new stake in Elastic during the fourth quarter valued at approximately $25,000. SBI Securities Co. Ltd. purchased a new stake in Elastic during the fourth quarter valued at approximately $25,000. Fourth Dimension Wealth LLC purchased a new stake in Elastic during the fourth quarter valued at approximately $26,000. Venturi Wealth Management LLC raised its position in Elastic by 793.3% during the fourth quarter. Venturi Wealth Management LLC now owns 268 shares of the company’s stock valued at $27,000 after purchasing an additional 238 shares during the period. Finally, Smartleaf Asset Management LLC raised its position in Elastic by 126.4% during the fourth quarter. Smartleaf Asset Management LLC now owns 283 shares of the company’s stock valued at $28,000 after purchasing an additional 158 shares during the period. 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.