Rosenblatt Securities Reaffirms “Buy” Rating for Elastic (NYSE:ESTC)

Rosenblatt Securities restated their buy rating on shares of Elastic (NYSE:ESTC) in a research note issued to investors on Tuesday,Benzinga reports. Rosenblatt Securities currently has a $130.00 price objective on the stock.

Other research analysts also recently issued research reports about the stock. Morgan Stanley began coverage on shares of Elastic in a research report on Tuesday, December 17th. They set an “overweight” rating and a $130.00 target price on the stock. Robert W. Baird raised shares of Elastic from a “neutral” rating to an “outperform” rating and increased their price objective for the stock from $95.00 to $135.00 in a research report on Friday, November 22nd. JPMorgan Chase & Co. raised their target price on Elastic from $100.00 to $130.00 and gave the company an “overweight” rating in a research note on Friday, November 22nd. Jefferies Financial Group upped their price target on Elastic from $110.00 to $135.00 and gave the stock a “buy” rating in a research note on Friday, November 22nd. Finally, Citigroup raised their price objective on Elastic from $136.00 to $150.00 and gave the company a “buy” rating in a research note on Monday, November 25th. Seven equities research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $125.78.

Elastic Price Performance

Shares of ESTC opened at $102.99 on Tuesday. The firm has a market cap of $10.67 billion, a PE ratio of 187.26 and a beta of 1.07. Elastic has a 52-week low of $69.00 and a 52-week high of $136.06. The business’s 50 day moving average price is $105.91 and its two-hundred day moving average price is $95.41. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.99 and a current ratio of 1.99.

Insider Activity at Elastic

In other Elastic news, CEO Ashutosh Kulkarni sold 7,017 shares of the company’s stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $108.12, for a total value of $758,678.04. Following the completion of the transaction, the chief executive officer now owns 395,326 shares in the company, valued at $42,742,647.12. This represents a 1.74 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 15.90% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Elastic

A number of hedge funds have recently made changes to their positions in ESTC. Public Employees Retirement System of Ohio increased its holdings in Elastic by 1.2% during the fourth quarter. Public Employees Retirement System of Ohio now owns 29,907 shares of the company’s stock worth $2,963,000 after buying an additional 359 shares during the last quarter. Fourth Dimension Wealth LLC bought a new position in shares of Elastic during the 4th quarter valued at approximately $26,000. Sylebra Capital LLC grew its position in shares of Elastic by 62.6% during the 4th quarter. Sylebra Capital LLC now owns 4,561,462 shares of the company’s stock valued at $451,950,000 after acquiring an additional 1,756,842 shares during the period. Castleark Management LLC purchased a new stake in shares of Elastic during the 4th quarter worth approximately $362,000. Finally, PharVision Advisers LLC bought a new stake in shares of Elastic in the 4th quarter worth approximately $315,000. 97.03% of the stock is currently owned by institutional investors.

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.