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

Elastic N.V. (NYSE:ESTC) has earned a consensus recommendation of “Moderate Buy” from the twenty-nine research firms that are presently covering the firm, Marketbeat reports. Eight investment analysts have rated the stock with a hold recommendation, twenty have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $113.52.

ESTC has been the topic of a number of research analyst reports. JPMorgan Chase & Co. decreased their price target on shares of Elastic from $120.00 to $110.00 and set an “overweight” rating on the stock in a report on Friday, May 30th. Oppenheimer dropped their target price on shares of Elastic from $140.00 to $120.00 and set an “outperform” rating for the company in a report on Tuesday, April 22nd. Wedbush decreased their target price on Elastic from $135.00 to $110.00 and set an “outperform” rating for the company in a report on Friday, May 30th. TD Securities reduced their price target on shares of Elastic from $125.00 to $105.00 and set a “hold” rating on the stock in a research report on Wednesday, May 21st. Finally, Wall Street Zen raised shares of Elastic from a “hold” rating to a “buy” rating in a research report on Friday, May 30th.

Elastic Stock Performance

Shares of Elastic stock opened at $85.18 on Tuesday. The company has a market cap of $8.99 billion, a P/E ratio of -81.13 and a beta of 1.07. Elastic has a 1-year low of $69.00 and a 1-year high of $123.96. The business has a 50-day moving average price of $86.41 and a two-hundred day moving average price of $93.43. The company has a current ratio of 1.92, a quick ratio of 1.92 and a debt-to-equity ratio of 0.61.

Elastic (NYSE:ESTC) last released its quarterly earnings data on Thursday, May 29th. The company reported $0.47 EPS for the quarter, beating the consensus estimate of $0.37 by $0.10. The firm had revenue of $388.43 million during the quarter, compared to the consensus estimate of $380.61 million. Elastic had a negative return on equity of 4.46% and a negative net margin of 7.29%. The company’s quarterly revenue was up 15.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.21 earnings per share. As a group, analysts anticipate that Elastic will post -0.77 EPS for the current year.

Insider Transactions at Elastic

In related news, CEO Ashutosh Kulkarni sold 22,901 shares of the firm’s stock in a transaction on Monday, June 9th. The shares were sold at an average price of $86.91, for a total value of $1,990,325.91. Following the completion of the transaction, the chief executive officer directly owned 454,841 shares of the company’s stock, valued at approximately $39,530,231.31. This trade represents a 4.79% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Carolyn Herzog sold 5,702 shares of the stock in a transaction 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 owned 93,985 shares in the company, valued at $8,168,236.35. The trade was a 5.72% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 50,913 shares of company stock valued at $4,416,324. 15.90% of the stock is owned by corporate insiders.

Institutional Trading of Elastic

A number of hedge funds have recently bought and sold shares of ESTC. Massachusetts Financial Services Co. MA grew its holdings in Elastic by 5,437.6% in the first quarter. Massachusetts Financial Services Co. MA now owns 2,288,128 shares of the company’s stock worth $203,872,000 after purchasing an additional 2,246,808 shares during the last quarter. Sylebra Capital LLC raised its holdings in shares of Elastic by 62.6% in the fourth quarter. Sylebra Capital LLC now owns 4,561,462 shares of the company’s stock worth $451,950,000 after buying an additional 1,756,842 shares during the last quarter. AQR Capital Management LLC raised its holdings in shares of Elastic by 6,651.3% in the first quarter. AQR Capital Management LLC now owns 1,403,859 shares of the company’s stock worth $122,978,000 after buying an additional 1,383,065 shares during the last quarter. Norges Bank purchased a new stake in shares of Elastic in the 4th quarter valued at $102,485,000. Finally, Driehaus Capital Management LLC boosted its holdings in shares of Elastic by 1,450.8% in the 1st quarter. Driehaus Capital Management LLC now owns 880,454 shares of the company’s stock valued at $78,448,000 after acquiring an additional 823,680 shares during the last quarter. Hedge funds and other institutional investors own 97.03% of the company’s stock.

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.