Wells Fargo & Company Raises Elastic (NYSE:ESTC) Price Target to $150.00

Elastic (NYSE:ESTC) had its price objective hoisted by analysts at Wells Fargo & Company from $135.00 to $150.00 in a research report issued on Friday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Wells Fargo & Company‘s target price points to a potential upside of 28.88% from the stock’s previous close.

ESTC has been the topic of a number of other reports. Baird R W raised shares of Elastic from a “hold” rating to a “strong-buy” rating in a research report on Friday, November 22nd. Jefferies Financial Group boosted their price objective on shares of Elastic from $110.00 to $135.00 and gave the company a “buy” rating in a research report on Friday, November 22nd. Oppenheimer boosted their price objective on shares of Elastic from $125.00 to $140.00 and gave the company an “outperform” rating in a research report on Friday, November 22nd. Stifel Nicolaus boosted their target price on shares of Elastic from $98.00 to $132.00 and gave the stock a “buy” rating in a research report on Friday, November 22nd. Finally, Barclays boosted their target price on shares of Elastic from $105.00 to $138.00 and gave the stock an “overweight” rating in a research report on Monday, November 25th. Seven analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Elastic currently has a consensus rating of “Moderate Buy” and a consensus target price of $131.09.

Elastic Stock Up 14.9 %

ESTC stock opened at $116.38 on Friday. Elastic has a 52-week low of $69.00 and a 52-week high of $136.06. The company’s 50 day simple moving average is $106.11 and its 200-day simple moving average is $95.52. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.99 and a quick ratio of 1.99. The firm has a market capitalization of $12.06 billion, a P/E ratio of 211.61 and a beta of 1.07.

Elastic (NYSE:ESTC) last announced its quarterly earnings data on Thursday, February 27th. The company reported ($0.01) EPS for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.48). Elastic had a net margin of 4.39% and a negative return on equity of 13.20%. The company had revenue of $382.08 million for the quarter, compared to analysts’ expectations of $368.85 million. As a group, equities research analysts anticipate that Elastic will post -0.77 EPS for the current year.

Insider Activity at Elastic

In related news, CEO Ashutosh Kulkarni sold 7,017 shares of the company’s stock in a transaction on 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 transaction, the chief executive officer now directly owns 395,326 shares in the company, valued at $42,742,647.12. This represents a 1.74 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 15.90% of the company’s stock.

Hedge Funds Weigh In On Elastic

Several large investors have recently bought and sold shares of the stock. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in Elastic during the 4th quarter valued at $3,558,000. Jefferies Financial Group Inc. acquired a new position in shares of Elastic in the 4th quarter valued at $456,000. Infinitum Asset Management LLC acquired a new position in shares of Elastic in the 4th quarter valued at $6,936,000. Public Employees Retirement System of Ohio raised its stake in shares of Elastic by 1.2% in the 4th quarter. Public Employees Retirement System of Ohio now owns 29,907 shares of the company’s stock valued at $2,963,000 after buying an additional 359 shares in the last quarter. Finally, Fourth Dimension Wealth LLC acquired a new position in shares of Elastic in the 4th quarter valued at $26,000. 97.03% of the stock is currently 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.