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

Shares of Elastic (NYSE:ESTC) have earned an average rating of “Moderate Buy” from the twenty-six ratings firms that are covering the firm, Marketbeat 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 objective among analysts that have issued a report on the stock in the last year is $125.35.

A number of analysts have weighed in on the company. Oppenheimer boosted their price target on Elastic from $125.00 to $140.00 and gave the stock an “outperform” rating in a research report on Friday, November 22nd. Scotiabank reduced their target price on Elastic from $135.00 to $127.00 and set a “sector outperform” rating for the company in a report on Tuesday. Rosenblatt Securities reiterated a “buy” rating and set a $120.00 price target on shares of Elastic in a report on Wednesday, November 20th. Guggenheim lifted their price target on shares of Elastic from $100.00 to $120.00 and gave the company a “buy” rating in a research report on Friday, November 22nd. Finally, Piper Sandler upped their price objective on shares of Elastic from $100.00 to $130.00 and gave the stock an “overweight” rating in a report on Friday, November 22nd.

Insider Transactions at Elastic

In related news, CEO Ashutosh Kulkarni sold 7,017 shares of the stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $108.12, for a total transaction of $758,678.04. Following the completion of the sale, the chief executive officer now owns 395,326 shares in the company, valued at $42,742,647.12. This trade represents a 1.74 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Carolyn Herzog sold 11,145 shares of the firm’s stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $111.34, for a total transaction of $1,240,884.30. Following the sale, the insider now directly owns 92,011 shares of the company’s stock, valued at approximately $10,244,504.74. The trade was a 10.80 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 168,162 shares of company stock valued at $18,637,562. Company insiders own 15.90% of the company’s stock.

Hedge Funds Weigh In On Elastic

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

Elastic Stock Up 2.9 %

ESTC stock opened at $104.15 on Tuesday. The firm has a market cap of $10.79 billion, a PE ratio of 189.35 and a beta of 1.06. Elastic has a 1 year low of $69.00 and a 1 year high of $136.06. The company has a fifty day simple moving average of $102.60 and a 200 day simple moving average of $95.49. The company has a current ratio of 1.99, a quick ratio of 1.99 and a debt-to-equity ratio of 0.70.

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.