Elastic (NYSE:ESTC) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Elastic (NYSE:ESTC) has been assigned a consensus recommendation of “Moderate Buy” from the twenty-six analysts that are presently covering the stock, MarketBeat.com reports. Seven analysts have rated the stock with a hold recommendation, eighteen have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $125.35.

Several analysts have issued reports on the company. Wells Fargo & Company boosted their price objective on Elastic from $100.00 to $135.00 and gave the stock an “overweight” rating in a report on Friday, November 22nd. Morgan Stanley assumed coverage on Elastic in a report on Tuesday, December 17th. They set an “overweight” rating and a $130.00 price objective on the stock. JPMorgan Chase & Co. boosted their price objective on Elastic from $100.00 to $130.00 and gave the stock an “overweight” rating in a report on Friday, November 22nd. Bank of America boosted their price objective on Elastic from $94.00 to $120.00 and gave the stock a “neutral” rating in a report on Friday, November 22nd. Finally, Citigroup boosted their price objective on Elastic from $136.00 to $150.00 and gave the stock a “buy” rating in a report on Monday, November 25th.

Insiders Place Their Bets

In other news, CTO Shay Banon sold 150,000 shares of the company’s stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $110.92, for a total transaction of $16,638,000.00. Following the completion of the sale, the chief technology officer now owns 2,604,978 shares in the company, valued at approximately $288,944,159.76. This represents a 5.44 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Ashutosh Kulkarni sold 7,017 shares of the company’s stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $108.12, for a total value of $758,678.04. Following the sale, the chief executive officer now owns 395,326 shares of the company’s stock, valued at approximately $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 168,162 shares of company stock valued at $18,637,562 over the last quarter. Insiders own 15.90% of the company’s stock.

Institutional Trading of Elastic

Several large investors have recently made changes to their positions in the stock. Sylebra Capital LLC boosted its stake in 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 purchasing an additional 1,756,842 shares during the period. FMR LLC boosted its stake in Elastic by 25.6% during the 3rd quarter. FMR LLC now owns 5,475,297 shares of the company’s stock valued at $420,284,000 after purchasing an additional 1,115,750 shares during the period. Norges Bank bought a new stake in Elastic during the 4th quarter valued at approximately $102,485,000. Arrowstreet Capital Limited Partnership boosted its stake in Elastic by 5,972.4% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 744,358 shares of the company’s stock valued at $73,751,000 after purchasing an additional 732,100 shares during the period. Finally, Atreides Management LP boosted its stake in Elastic by 57.2% during the 3rd quarter. Atreides Management LP now owns 1,687,791 shares of the company’s stock valued at $129,555,000 after purchasing an additional 614,309 shares during the period. Institutional investors own 97.03% of the company’s stock.

Elastic Price Performance

Shares of Elastic stock opened at $111.69 on Friday. The company’s 50-day moving average price is $105.90 and its two-hundred day moving average price is $95.36. The company has a current ratio of 1.99, a quick ratio of 1.99 and a debt-to-equity ratio of 0.70. The stock has a market cap of $11.57 billion, a PE ratio of 203.07 and a beta of 1.07. Elastic has a 52 week low of $69.00 and a 52 week high of $136.06.

About Elastic

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.