Shares of Elastic (NYSE:ESTC – Get Free Report) gapped down before the market opened on Friday after Scotiabank lowered their price target on the stock from $185.00 to $154.00. The stock had previously closed at $133.81, but opened at $115.96. Scotiabank currently has a sector outperform rating on the stock. Elastic shares last traded at $115.08, with a volume of 1,067,147 shares.
Other equities analysts have also issued research reports about the company. Truist Financial raised their price objective on Elastic from $130.00 to $140.00 and gave the stock a “buy” rating in a report on Tuesday, February 20th. The Goldman Sachs Group increased their target price on shares of Elastic from $93.00 to $106.00 and gave the stock a “neutral” rating in a research note on Friday. TheStreet upgraded shares of Elastic from a “d+” rating to a “c-” rating in a research note on Wednesday, February 7th. Oppenheimer increased their target price on shares of Elastic from $110.00 to $130.00 and gave the stock an “outperform” rating in a research note on Friday. Finally, Wells Fargo & Company upgraded shares of Elastic from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $90.00 to $108.00 in a research report on Friday, December 1st. Seven equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $105.05.
Insiders Place Their Bets
In other Elastic news, Director Shelley B. Leibowitz sold 1,000 shares of the stock in a transaction that occurred on Tuesday, December 12th. The shares were sold at an average price of $115.53, for a total value of $115,530.00. Following the completion of the sale, the director now owns 5,577 shares in the company, valued at approximately $644,310.81. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, insider Carolyn Herzog sold 20,234 shares of the firm’s stock in a transaction on Tuesday, December 12th. The shares were sold at an average price of $115.49, for a total value of $2,336,824.66. Following the transaction, the insider now directly owns 90,390 shares in the company, valued at approximately $10,439,141.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Shelley B. Leibowitz sold 1,000 shares of the firm’s stock in a transaction on Tuesday, December 12th. The shares were sold at an average price of $115.53, for a total transaction of $115,530.00. Following the completion of the transaction, the director now owns 5,577 shares in the company, valued at $644,310.81. The disclosure for this sale can be found here. Insiders sold a total of 128,867 shares of company stock worth $14,928,615 in the last quarter. 18.10% of the stock is currently owned by corporate insiders.
Institutional Trading of Elastic
Hedge funds and other institutional investors have recently bought and sold shares of the stock. UBS Group AG lifted its holdings in Elastic by 28.0% during the 3rd quarter. UBS Group AG now owns 56,805 shares of the company’s stock valued at $4,615,000 after purchasing an additional 12,430 shares during the last quarter. M&T Bank Corp acquired a new position in Elastic during the third quarter valued at approximately $230,000. Rhumbline Advisers grew its holdings in Elastic by 4.5% during the third quarter. Rhumbline Advisers now owns 101,866 shares of the company’s stock valued at $8,276,000 after purchasing an additional 4,412 shares during the period. FMR LLC boosted its holdings in shares of Elastic by 4.7% in the third quarter. FMR LLC now owns 9,051,434 shares of the company’s stock valued at $735,338,000 after buying an additional 409,717 shares during the period. Finally, Pathstone Family Office LLC acquired a new position in shares of Elastic in the third quarter valued at approximately $5,046,000. 74.66% of the stock is currently owned by institutional investors and hedge funds.
Elastic Price Performance
The company has a market cap of $11.65 billion, a price-to-earnings ratio of 254.37 and a beta of 0.97. The company has a quick ratio of 1.89, a current ratio of 1.89 and a debt-to-equity ratio of 1.25. The company’s fifty day moving average price is $119.63 and its two-hundred day moving average price is $94.67.
Elastic (NYSE:ESTC – Get Free Report) last announced its quarterly earnings data on Thursday, November 30th. The company reported $0.37 EPS for the quarter, topping analysts’ consensus estimates of $0.24 by $0.13. Elastic had a net margin of 4.63% and a negative return on equity of 28.00%. The business had revenue of $311.00 million for the quarter, compared to analyst estimates of $304.44 million. During the same quarter in the previous year, the firm posted ($0.50) earnings per share. The firm’s revenue for the quarter was up 17.6% on a year-over-year basis. On average, equities research analysts forecast that Elastic will post -1.17 EPS for the current fiscal year.
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.