Elastic (NYSE:ESTC) Given New $135.00 Price Target at Jefferies Financial Group

Elastic (NYSE:ESTC) had its price objective lifted by Jefferies Financial Group from $110.00 to $135.00 in a research report released on Friday morning,Benzinga reports. The firm currently has a buy rating on the stock.

A number of other equities analysts also recently commented on ESTC. Rosenblatt Securities restated a “buy” rating and issued a $120.00 price objective on shares of Elastic in a report on Wednesday, November 20th. Oppenheimer raised their price target on shares of Elastic from $125.00 to $140.00 and gave the company an “outperform” rating in a report on Friday. Bank of America boosted their price objective on shares of Elastic from $94.00 to $120.00 and gave the stock a “neutral” rating in a research note on Friday. Barclays raised their target price on shares of Elastic from $95.00 to $105.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. Finally, Robert W. Baird raised shares of Elastic from a “neutral” rating to an “outperform” rating and upped their price target for the stock from $95.00 to $135.00 in a research report on Friday. Six investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $122.00.

Elastic Trading Up 14.8 %

Shares of ESTC stock opened at $108.03 on Friday. Elastic has a twelve month low of $69.00 and a twelve month high of $136.06. The firm has a 50-day moving average price of $81.78 and a 200 day moving average price of $96.91. The company has a market capitalization of $11.10 billion, a price-to-earnings ratio of 196.42 and a beta of 0.94. 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 announced its quarterly earnings data on Thursday, August 29th. The company reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.25 by $0.10. The company had revenue of $347.42 million during the quarter, compared to analysts’ expectations of $344.67 million. Elastic had a net margin of 4.39% and a negative return on equity of 13.54%. The business’s quarterly revenue was up 18.3% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.35) EPS. Research analysts forecast that Elastic will post -0.92 earnings per share for the current fiscal year.

Insider Activity

In related news, CFO Janesh Moorjani sold 6,941 shares of the business’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $70.25, for a total value of $487,605.25. Following the completion of the sale, the chief financial officer now directly owns 195,550 shares of the company’s stock, valued at $13,737,387.50. The trade was a 3.43 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Paul R. Auvil III bought 20,000 shares of Elastic stock in a transaction on Tuesday, September 3rd. The shares were purchased at an average cost of $74.25 per share, for a total transaction of $1,485,000.00. Following the acquisition, the director now owns 22,627 shares in the company, valued at $1,680,054.75. The trade was a 761.32 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last three months, insiders sold 37,406 shares of company stock worth $2,627,772. 15.90% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Elastic

Several institutional investors and hedge funds have recently made changes to their positions in the company. Asset Dedication LLC boosted its holdings in Elastic by 1,333.3% in the second quarter. Asset Dedication LLC now owns 301 shares of the company’s stock worth $34,000 after purchasing an additional 280 shares during the period. AlphaCentric Advisors LLC acquired a new stake in shares of Elastic during the 2nd quarter worth approximately $40,000. Quarry LP acquired a new position in Elastic during the 2nd quarter valued at approximately $40,000. Lynx Investment Advisory bought a new position in Elastic during the 2nd quarter worth $43,000. Finally, Signaturefd LLC lifted its stake in Elastic by 44.1% in the second 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. 97.03% of the stock is 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.