Elastic N.V. (NYSE:ESTC) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of Elastic N.V. (NYSE:ESTC) have earned a consensus recommendation of “Moderate Buy” from the twenty-eight ratings firms that are presently covering the firm, Marketbeat Ratings reports. Eight analysts have rated the stock with a hold recommendation, nineteen have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $113.63.

A number of analysts recently issued reports on ESTC shares. KeyCorp started coverage on shares of Elastic in a report on Tuesday, June 10th. They set a “sector weight” rating for the company. Guggenheim decreased their price objective on shares of Elastic from $136.00 to $107.00 and set a “buy” rating for the company in a report on Friday, May 30th. Wedbush cut their target price on shares of Elastic from $135.00 to $110.00 and set an “outperform” rating for the company in a research report on Friday, May 30th. Rosenblatt Securities cut their target price 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, Wells Fargo & Company cut their target price on shares of Elastic from $150.00 to $120.00 and set an “overweight” rating for the company in a research report on Friday, May 30th.

Elastic Stock Performance

Shares of ESTC stock opened at $83.46 on Friday. Elastic has a one year low of $69.00 and a one year high of $123.96. The firm has a 50-day moving average of $85.29 and a 200-day moving average of $96.07. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.92 and a quick ratio of 1.92. The company has a market cap of $8.81 billion, a P/E ratio of -79.48 and a beta of 1.07.

Elastic (NYSE:ESTC) last posted its quarterly earnings data 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 business had revenue of $388.43 million during the quarter, compared to the consensus estimate of $380.61 million. During the same quarter last year, the company posted $0.21 earnings per share. The firm’s quarterly revenue was up 15.9% compared to the same quarter last year. Equities research analysts forecast that Elastic will post -0.77 EPS for the current fiscal year.

Insider Activity

In related news, insider Carolyn Herzog sold 5,702 shares of the firm’s stock in a transaction that occurred on Monday, June 9th. The shares were sold at an average price of $86.91, for a total value of $495,560.82. Following the sale, the insider now directly owns 93,985 shares of the company’s stock, valued at $8,168,236.35. This trade represents a 5.72% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Ken Exner sold 6,918 shares of the firm’s stock in a transaction that occurred on Monday, June 9th. The shares were sold at an average price of $86.91, for a total transaction of $601,243.38. Following the completion of the sale, the insider now directly owns 230,494 shares in the company, valued at $20,032,233.54. This represents a 2.91% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 53,413 shares of company stock worth $4,720,774. 15.90% of the stock is owned by company insiders.

Institutional Investors Weigh In On Elastic

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. SBI Securities Co. Ltd. purchased a new position in shares of Elastic during the fourth quarter worth approximately $25,000. Fourth Dimension Wealth LLC purchased a new position in shares of Elastic during the fourth quarter worth approximately $26,000. Venturi Wealth Management LLC raised its stake in shares of Elastic by 793.3% during the fourth quarter. Venturi Wealth Management LLC now owns 268 shares of the company’s stock worth $27,000 after acquiring an additional 238 shares in the last quarter. Smartleaf Asset Management LLC raised its stake in shares of Elastic by 126.4% during the fourth quarter. Smartleaf Asset Management LLC now owns 283 shares of the company’s stock worth $28,000 after acquiring an additional 158 shares in the last quarter. Finally, Cloud Capital Management LLC purchased a new position in shares of Elastic during the first quarter worth approximately $25,000. 97.03% of the stock is 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.