Elastic (NYSE:ESTC) Receives $125.70 Consensus Price Target from Analysts

Elastic (NYSE:ESTC) has received an average recommendation of “Moderate Buy” from the twenty-six brokerages that are covering the firm, MarketBeat Ratings reports. Seven analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating on the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $125.35.

Several analysts have issued reports on ESTC shares. William Blair upgraded Elastic from a “market perform” rating to an “outperform” rating in a report on Monday, October 14th. DA Davidson raised their price objective on shares of Elastic from $75.00 to $115.00 and gave the stock a “neutral” rating in a research report on Friday, November 22nd. Barclays boosted their target price on shares of Elastic from $105.00 to $138.00 and gave the company an “overweight” rating in a report on Monday, November 25th. Morgan Stanley started coverage on shares of Elastic in a report on Tuesday, December 17th. They set an “overweight” rating and a $130.00 price target for the company. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Elastic in a report on Friday, November 22nd.

Elastic Stock Up 0.6 %

Shares of ESTC opened at $105.04 on Tuesday. The stock has a 50 day moving average price of $103.34 and a 200 day moving average price of $95.05. Elastic has a one year low of $69.00 and a one year high of $136.06. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.99 and a current ratio of 1.99. The stock has a market capitalization of $10.88 billion, a price-to-earnings ratio of 190.98 and a beta of 1.06.

Insiders Place Their Bets

In related news, CTO Shay Banon sold 150,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $110.92, for a total value of $16,638,000.00. Following the sale, the chief technology officer now owns 2,604,978 shares of the company’s stock, valued at $288,944,159.76. This trade represents a 5.44 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Ashutosh Kulkarni sold 7,017 shares of the business’s stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $108.12, for a total transaction of $758,678.04. Following the transaction, the chief executive officer now owns 395,326 shares of the company’s stock, valued at $42,742,647.12. This trade represents a 1.74 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 168,162 shares of company stock worth $18,637,562 over the last 90 days. Corporate insiders own 15.90% of the company’s stock.

Institutional Investors Weigh In On Elastic

A number of hedge funds and other institutional investors have recently modified their holdings of the company. FMR LLC increased its holdings in Elastic by 25.6% in the third quarter. FMR LLC now owns 5,475,297 shares of the company’s stock valued at $420,284,000 after buying an additional 1,115,750 shares during the last quarter. Atreides Management LP increased its holdings in shares of Elastic by 57.2% in the 3rd quarter. Atreides Management LP now owns 1,687,791 shares of the company’s stock valued at $129,555,000 after acquiring an additional 614,309 shares during the last quarter. State Street Corp raised its position in shares of Elastic by 2.3% during the 3rd quarter. State Street Corp now owns 1,437,243 shares of the company’s stock worth $110,323,000 after acquiring an additional 31,663 shares in the last quarter. Geode Capital Management LLC lifted its stake in Elastic by 3.7% during the third quarter. Geode Capital Management LLC now owns 1,394,336 shares of the company’s stock worth $107,058,000 after purchasing an additional 50,355 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Elastic by 2.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 545,870 shares of the company’s stock valued at $41,901,000 after purchasing an additional 14,590 shares in the last quarter. 97.03% of the stock is currently owned by institutional investors and hedge funds.

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.