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

Shares of Elastic N.V. (NYSE:ESTC) have received an average recommendation of “Moderate Buy” from the twenty-nine analysts that are covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and seventeen have given a buy rating to the company. The average 12-month price target among analysts that have covered the stock in the last year is $102.1667.

Several analysts have commented on ESTC shares. Weiss Ratings reissued a “sell (d)” rating on shares of Elastic in a report on Wednesday, January 21st. Truist Financial dropped their price target on shares of Elastic from $140.00 to $120.00 and set a “buy” rating on the stock in a research note on Wednesday, November 19th. Barclays cut their price target on shares of Elastic from $107.00 to $100.00 and set an “overweight” rating for the company in a report on Monday, January 12th. Monness Crespi & Hardt downgraded shares of Elastic from a “buy” rating to a “neutral” rating in a report on Friday, November 21st. Finally, Royal Bank Of Canada cut their target price on shares of Elastic from $115.00 to $95.00 and set an “outperform” rating for the company in a research note on Monday, January 5th.

Insider Activity at Elastic

In related news, CFO Navam Welihinda sold 1,046 shares of the company’s stock in a transaction dated Wednesday, December 10th. The shares were sold at an average price of $74.51, for a total transaction of $77,937.46. Following the completion of the sale, the chief financial officer owned 123,874 shares of the company’s stock, valued at approximately $9,229,851.74. This represents a 0.84% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Jane E. Bone sold 1,187 shares of the stock in a transaction dated Friday, January 9th. The shares were sold at an average price of $80.31, for a total transaction of $95,327.97. Following the completion of the sale, the chief accounting officer owned 43,171 shares of the company’s stock, valued at approximately $3,467,063.01. The trade was a 2.68% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 61,828 shares of company stock worth $4,641,010 in the last quarter. Corporate insiders own 12.70% of the company’s stock.

Institutional Investors Weigh In On Elastic

Several hedge funds and other institutional investors have recently made changes to their positions in ESTC. AQR Capital Management LLC grew its holdings in Elastic by 153.4% in the 4th quarter. AQR Capital Management LLC now owns 7,545,081 shares of the company’s stock valued at $569,201,000 after buying an additional 4,567,720 shares in the last quarter. FIL Ltd boosted its position in shares of Elastic by 36.9% during the 4th quarter. FIL Ltd now owns 3,628,748 shares of the company’s stock valued at $273,753,000 after acquiring an additional 977,578 shares during the last quarter. Alyeska Investment Group L.P. boosted its position in shares of Elastic by 490.4% during the 3rd quarter. Alyeska Investment Group L.P. now owns 1,113,503 shares of the company’s stock valued at $94,080,000 after acquiring an additional 924,911 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of Elastic by 7.4% in the third quarter. Vanguard Group Inc. now owns 10,206,204 shares of the company’s stock valued at $862,322,000 after purchasing an additional 705,991 shares during the period. Finally, Qube Research & Technologies Ltd increased its position in Elastic by 302.1% during the second quarter. Qube Research & Technologies Ltd now owns 932,630 shares of the company’s stock worth $78,649,000 after purchasing an additional 700,697 shares during the last quarter. Institutional investors and hedge funds own 97.03% of the company’s stock.

Elastic Stock Up 5.7%

ESTC opened at $56.36 on Wednesday. The company has a fifty day moving average of $69.53 and a two-hundred day moving average of $78.22. The stock has a market capitalization of $5.94 billion, a price-to-earnings ratio of -54.72, a PEG ratio of 216.98 and a beta of 0.93. Elastic has a fifty-two week low of $52.73 and a fifty-two week high of $117.49. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.97 and a current ratio of 1.97.

Elastic Company Profile

Elastic N.V. operates as a search and analytics company, offering a suite of open source and subscription-based solutions for search, observability and security use cases. Its flagship product, Elasticsearch, enables fast and scalable full-text search and analytics across large volumes of structured and unstructured data. Complementary tools such as Kibana provide visualization capabilities, while Beats and Logstash serve as lightweight data shippers and data processing pipelines, respectively.

The company was founded in 2012 by Shay Banon, who serves as chief technology officer, and Steven Schuurman.