Elastic (NYSE:ESTC) Receives Average Rating of “Moderate Buy” from Brokerages

Elastic (NYSE:ESTCGet Free Report) has earned an average recommendation of “Moderate Buy” from the twenty-two research firms that are presently covering the firm, MarketBeat reports. Seven analysts have rated the stock with a hold rating and fifteen have issued a buy rating on the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $118.05.

A number of analysts recently issued reports on the stock. Truist Financial lifted their price target on shares of Elastic from $130.00 to $140.00 and gave the stock a “buy” rating in a research note on Tuesday, February 20th. Oppenheimer lifted their price target on Elastic from $110.00 to $130.00 and gave the stock an “outperform” rating in a research note on Friday, March 1st. UBS Group assumed coverage on Elastic in a report on Wednesday, May 22nd. They set a “buy” rating and a $135.00 target price on the stock. Stifel Nicolaus decreased their price objective on shares of Elastic from $130.00 to $120.00 and set a “buy” rating for the company in a report on Friday, May 31st. Finally, Scotiabank reduced their price target on shares of Elastic from $154.00 to $135.00 and set a “sector outperform” rating on the stock in a research report on Friday, May 31st.

View Our Latest Research Report on Elastic

Insider Buying and Selling at Elastic

In related news, CTO Shay Banon sold 20,000 shares of the stock in a transaction on Wednesday, March 20th. The stock was sold at an average price of $101.52, for a total transaction of $2,030,400.00. Following the completion of the sale, the chief technology officer now directly owns 3,054,978 shares in the company, valued at $310,141,366.56. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other Elastic news, CTO Shay Banon sold 20,000 shares of the stock in a transaction on Wednesday, March 20th. The shares were sold at an average price of $101.52, for a total transaction of $2,030,400.00. Following the transaction, the chief technology officer now directly owns 3,054,978 shares of the company’s stock, valued at $310,141,366.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Steven Schuurman sold 815,000 shares of the stock in a transaction that occurred on Tuesday, March 26th. The shares were sold at an average price of $97.54, for a total value of $79,495,100.00. Following the transaction, the director now owns 8,382,000 shares in the company, valued at approximately $817,580,280. The disclosure for this sale can be found here. Insiders sold 880,840 shares of company stock valued at $86,564,221 in the last quarter. Company insiders own 18.10% of the company’s stock.

Institutional Investors Weigh In On Elastic

Hedge funds have recently bought and sold shares of the company. Baillie Gifford & Co. grew its holdings in Elastic by 30.8% in the 1st quarter. Baillie Gifford & Co. now owns 10,156,726 shares of the company’s stock valued at $1,018,110,000 after buying an additional 2,392,356 shares during the last quarter. FMR LLC increased its holdings in shares of Elastic by 4.7% during the 3rd quarter. FMR LLC now owns 9,051,434 shares of the company’s stock worth $735,338,000 after purchasing an additional 409,717 shares during the period. Vanguard Group Inc. raised its position in shares of Elastic by 0.5% during the first quarter. Vanguard Group Inc. now owns 8,613,723 shares of the company’s stock valued at $863,440,000 after buying an additional 44,597 shares during the last quarter. Sylebra Capital LLC bought a new stake in shares of Elastic in the third quarter valued at about $318,822,000. Finally, JPMorgan Chase & Co. grew its position in Elastic by 5.5% during the third quarter. JPMorgan Chase & Co. now owns 2,969,585 shares of the company’s stock worth $241,249,000 after buying an additional 155,612 shares in the last quarter. 97.03% of the stock is currently owned by institutional investors.

Elastic Price Performance

Elastic stock opened at $114.18 on Monday. The firm has a fifty day moving average of $104.67 and a 200-day moving average of $110.39. Elastic has a 52-week low of $57.38 and a 52-week high of $136.06. The company has a quick ratio of 1.87, a current ratio of 1.87 and a debt-to-equity ratio of 0.80. The firm has a market capitalization of $11.51 billion, a P/E ratio of 215.43 and a beta of 0.92.

About Elastic

(Get Free Report

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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