Elastic (NYSE:ESTC) Price Target Raised to $130.00 at JPMorgan Chase & Co.

Elastic (NYSE:ESTC) had its price objective lifted by JPMorgan Chase & Co. from $100.00 to $130.00 in a research note released on Friday morning,Benzinga reports. The brokerage currently has an overweight rating on the stock.

Several other equities research analysts have also commented on the stock. Wedbush upgraded shares of Elastic to a “hold” rating in a research report on Thursday, October 17th. Guggenheim began coverage on Elastic in a report on Wednesday, September 11th. They issued a “buy” rating and a $100.00 price target for the company. Scotiabank reduced their target price on Elastic from $135.00 to $92.00 and set a “sector outperform” rating for the company in a research note on Friday, August 30th. Needham & Company LLC reissued a “hold” rating on shares of Elastic in a research report on Friday. Finally, Oppenheimer upped their price target on Elastic from $125.00 to $140.00 and gave the company an “outperform” rating in a research report on Friday. Five investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $126.33.

Elastic Price Performance

NYSE ESTC opened at $111.45 on Friday. 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 company has a market cap of $11.45 billion, a price-to-earnings ratio of 202.69 and a beta of 0.94. The stock’s fifty day moving average price is $81.78 and its 200 day moving average price is $96.91.

Elastic (NYSE:ESTC) last released its quarterly earnings data on Thursday, August 29th. The company reported $0.35 earnings per share for the quarter, topping analysts’ consensus estimates of $0.25 by $0.10. Elastic had a negative return on equity of 13.54% and a net margin of 4.39%. The company had revenue of $347.42 million for the quarter, compared to analyst estimates of $344.67 million. During the same quarter in the previous year, the company posted ($0.35) earnings per share. The firm’s revenue for the quarter was up 18.3% compared to the same quarter last year. As a group, equities research analysts forecast that Elastic will post -0.92 earnings per share for the current year.

Insider Buying and Selling

In other Elastic news, CTO Shay Banon sold 2,666 shares of the stock in a transaction on Monday, September 9th. The stock was sold at an average price of $70.25, for a total transaction of $187,286.50. Following the sale, the chief technology officer now owns 4,543,190 shares in the company, valued at approximately $319,159,097.50. This represents a 0.06 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Paul R. Auvil III bought 20,000 shares of the stock in a transaction on Tuesday, September 3rd. The shares were bought at an average price 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 position. The disclosure for this purchase can be found here. Insiders have sold a total of 37,406 shares of company stock worth $2,627,772 in the last quarter. Company insiders own 15.90% of the company’s stock.

Institutional Investors Weigh In On Elastic

A number of large investors have recently bought and sold shares of ESTC. Toronto Dominion Bank purchased a new position in shares of Elastic during the 1st quarter worth $5,780,000. Interval Partners LP purchased a new position in shares of Elastic in the 1st quarter worth $1,704,000. Russell Investments Group Ltd. raised its position in shares of Elastic by 993.0% in the 1st quarter. Russell Investments Group Ltd. now owns 17,236 shares of the company’s stock worth $1,728,000 after buying an additional 15,659 shares during the period. Fifth Third Wealth Advisors LLC purchased a new position in shares of Elastic in the 3rd quarter worth $1,262,000. Finally, WD Rutherford LLC purchased a new position in shares of Elastic in the 2nd quarter worth $422,000. Institutional investors and hedge funds own 97.03% of the company’s stock.

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.