Elastic (NYSE:ESTC) Price Target Raised to $150.00 at Citigroup

Elastic (NYSE:ESTC) had its price target increased by Citigroup from $136.00 to $150.00 in a report issued on Monday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

Several other analysts have also commented on ESTC. Stifel Nicolaus increased their target price on shares of Elastic from $98.00 to $132.00 and gave the company a “buy” rating in a research note on Friday, November 22nd. William Blair raised shares of Elastic from a “market perform” rating to an “outperform” rating in a research note on Monday, October 14th. Bank of America increased their target price on shares of Elastic from $94.00 to $120.00 and gave the company a “neutral” rating in a research note on Friday, November 22nd. Wells Fargo & Company increased their target price on shares of Elastic from $100.00 to $135.00 and gave the company an “overweight” rating in a research note on Friday, November 22nd. Finally, Guggenheim increased their target price on shares of Elastic from $100.00 to $120.00 and gave the company a “buy” rating in a research note on Friday, November 22nd. Five research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $126.33.

Elastic Trading Down 1.3 %

Shares of NYSE:ESTC opened at $110.13 on Monday. The company has a 50 day moving average of $83.93 and a 200-day moving average of $97.09. The firm has a market cap of $11.32 billion, a P/E ratio of 200.24 and a beta of 0.94. Elastic has a twelve month low of $69.00 and a twelve month high of $136.06. The company has a current ratio of 1.91, a quick ratio of 1.91 and a debt-to-equity ratio of 0.75.

Elastic (NYSE:ESTC) last issued its quarterly earnings results on Thursday, August 29th. The company reported $0.35 earnings per share for the quarter, topping analysts’ consensus estimates of $0.25 by $0.10. The company had revenue of $347.42 million during the quarter, compared to analyst estimates of $344.67 million. Elastic had a net margin of 4.39% and a negative return on equity of 13.54%. The business’s revenue for the quarter was up 18.3% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.35) EPS. As a group, analysts anticipate that Elastic will post -0.92 earnings per share for the current fiscal year.

Insider Buying and Selling at Elastic

In other news, insider Carolyn Herzog sold 4,489 shares of the stock in a transaction on Monday, September 9th. The shares were sold at an average price of $70.25, for a total transaction of $315,352.25. Following the transaction, the insider now owns 102,959 shares in the company, valued at $7,232,869.75. This represents a 4.18 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Ashutosh Kulkarni sold 19,649 shares of the stock in a transaction on Monday, September 9th. The stock was sold at an average price of $70.25, for a total transaction of $1,380,342.25. Following the transaction, the chief executive officer now owns 432,648 shares in the company, valued at approximately $30,393,522. This trade represents a 4.34 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 198,551 shares of company stock worth $20,506,656. 15.90% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Asset Dedication LLC increased its stake in shares of Elastic by 1,333.3% during the 2nd quarter. Asset Dedication LLC now owns 301 shares of the company’s stock worth $34,000 after purchasing an additional 280 shares during the last quarter. AlphaCentric Advisors LLC acquired a new position in Elastic in the 2nd quarter valued at $40,000. Quarry LP acquired a new position in Elastic in the 2nd quarter valued at $40,000. Lynx Investment Advisory acquired a new position in Elastic in the 2nd quarter valued at $43,000. Finally, Signaturefd LLC grew its stake in Elastic by 44.1% in the 2nd quarter. Signaturefd LLC now owns 389 shares of the company’s stock valued at $44,000 after buying an additional 119 shares during the last quarter. Institutional investors and hedge funds 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.