Elastic (NYSE:ESTC – Get Free Report) was the target of a large decrease in short interest in September. As of September 30th, there was short interest totalling 3,760,000 shares, a decrease of 5.1% from the September 15th total of 3,960,000 shares. Approximately 4.4% of the company’s shares are sold short. Based on an average daily trading volume, of 1,320,000 shares, the short-interest ratio is currently 2.8 days.
Analyst Ratings Changes
A number of brokerages have recently issued reports on ESTC. Jefferies Financial Group dropped their price target on shares of Elastic from $140.00 to $110.00 and set a “buy” rating on the stock in a research report on Friday, August 30th. Needham & Company LLC reaffirmed a “hold” rating on shares of Elastic in a research report on Tuesday, October 8th. Royal Bank of Canada lowered their price objective on Elastic from $135.00 to $110.00 and set an “outperform” rating for the company in a research report on Friday, August 30th. DA Davidson dropped their price objective on Elastic from $100.00 to $75.00 and set a “neutral” rating on the stock in a research note on Friday, August 30th. Finally, Guggenheim assumed coverage on Elastic in a research note on Wednesday, September 11th. They set a “buy” rating and a $100.00 target price for the company. Eight analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $103.71.
Get Our Latest Stock Report on Elastic
Insider Activity at Elastic
Institutional Investors Weigh In On Elastic
Several institutional investors have recently made changes to their positions in the stock. Baillie Gifford & Co. lifted its stake in Elastic by 30.8% in the 1st quarter. Baillie Gifford & Co. now owns 10,156,726 shares of the company’s stock worth $1,018,110,000 after purchasing an additional 2,392,356 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Elastic by 0.5% in the first quarter. Vanguard Group Inc. now owns 8,613,723 shares of the company’s stock worth $863,440,000 after buying an additional 44,597 shares in the last quarter. 1832 Asset Management L.P. bought a new stake in Elastic during the second quarter valued at $248,335,000. Assenagon Asset Management S.A. purchased a new position in Elastic during the second quarter worth about $102,169,000. Finally, Federated Hermes Inc. increased its stake in Elastic by 32,630.2% in the 2nd quarter. Federated Hermes Inc. now owns 615,655 shares of the company’s stock worth $70,129,000 after acquiring an additional 613,774 shares during the last quarter. Hedge funds and other institutional investors own 97.03% of the company’s stock.
Elastic Stock Down 0.9 %
Shares of NYSE:ESTC opened at $81.60 on Friday. The company has a market capitalization of $8.30 billion, a PE ratio of 154.28 and a beta of 0.94. Elastic has a 1 year low of $69.00 and a 1 year high of $136.06. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.91 and a quick ratio of 1.91. The business has a fifty day moving average price of $85.75 and a two-hundred day moving average price of $99.80.
Elastic (NYSE:ESTC – Get Free Report) last released its earnings results on Thursday, August 29th. The company reported $0.35 earnings per share for the quarter, beating analysts’ consensus estimates of $0.25 by $0.10. Elastic had a net margin of 4.62% and a negative return on equity of 17.54%. The firm had revenue of $347.42 million for the quarter, compared to analysts’ expectations of $344.67 million. During the same period in the previous year, the company earned ($0.35) earnings per share. The company’s quarterly revenue was up 18.3% on a year-over-year basis. Analysts forecast that Elastic will post -0.91 earnings per share for the current 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.
Further Reading
- Five stocks we like better than Elastic
- What Are Some of the Best Large-Cap Stocks to Buy?
- Survey Reveals: America’s Most Coveted Businesses in 2024
- How to Capture the Benefits of Dividend Increases
- Top 3 Stocks to Play Oil’s Potential Comeback Rally
- Why is the Ex-Dividend Date Significant to Investors?
- Analysts See Growth in CrowdStrike Stock Despite July Setback
Receive News & Ratings for Elastic Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Elastic and related companies with MarketBeat.com's FREE daily email newsletter.