Elastic (NYSE:ESTC) Rating Increased to Outperform at William Blair

William Blair upgraded shares of Elastic (NYSE:ESTC) from a market perform rating to an outperform rating in a research report released on Monday, Marketbeat Ratings reports.

Several other research analysts have also commented on ESTC. Guggenheim assumed coverage on Elastic in a research report on Wednesday, September 11th. They set a “buy” rating and a $100.00 price target on the stock. UBS Group reduced their price target on shares of Elastic from $135.00 to $95.00 and set a “buy” rating for the company in a research report on Friday, August 30th. Rosenblatt Securities restated a “buy” rating and issued a $136.00 price objective on shares of Elastic in a research note on Tuesday, August 27th. TD Cowen decreased their target price on shares of Elastic from $110.00 to $80.00 and set a “hold” rating for the company in a research note on Friday, August 30th. Finally, Truist Financial dropped their price target on Elastic from $140.00 to $105.00 and set a “buy” rating on the stock in a research report on Friday, August 30th. Eight analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, Elastic has a consensus rating of “Moderate Buy” and an average target price of $103.71.

Elastic Trading Down 0.3 %

Shares of Elastic stock opened at $81.97 on Monday. The company has a current ratio of 1.91, a quick ratio of 1.91 and a debt-to-equity ratio of 0.75. The company has a fifty day simple moving average of $86.21 and a 200-day simple moving average of $99.92. The stock has a market cap of $8.34 billion, a price-to-earnings ratio of 154.66 and a beta of 0.94. Elastic has a 12-month low of $69.00 and a 12-month high of $136.06.

Elastic (NYSE:ESTC) last released 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. Elastic had a net margin of 4.62% and a negative return on equity of 17.54%. The company had revenue of $347.42 million during the quarter, compared to the consensus estimate of $344.67 million. During the same quarter in the prior year, the firm posted ($0.35) earnings per share. Elastic’s revenue for the quarter was up 18.3% on a year-over-year basis. On average, equities analysts forecast that Elastic will post -0.91 EPS for the current fiscal year.

Insider Transactions at Elastic

In related news, CEO Ashutosh Kulkarni sold 19,649 shares of the firm’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $70.25, for a total value of $1,380,342.25. Following the completion of the transaction, the chief executive officer now directly owns 432,648 shares of the company’s stock, valued at $30,393,522. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Elastic news, Director Paul R. Auvil III purchased 20,000 shares of Elastic stock in a transaction on Tuesday, September 3rd. The shares were bought at an average price of $74.25 per share, with a total value of $1,485,000.00. Following the completion of the acquisition, the director now directly owns 22,627 shares of the company’s stock, valued at approximately $1,680,054.75. This trade represents a 700.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Ashutosh Kulkarni sold 19,649 shares of the firm’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $70.25, for a total transaction of $1,380,342.25. Following the transaction, the chief executive officer now directly owns 432,648 shares of the company’s stock, valued at approximately $30,393,522. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 37,406 shares of company stock valued at $2,627,772 in the last quarter. 18.10% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Elastic

A number of institutional investors and hedge funds have recently bought and sold shares of ESTC. Asset Dedication LLC raised its holdings in shares of 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 acquiring an additional 280 shares during the last quarter. AlphaCentric Advisors LLC acquired a new position in Elastic in the 2nd quarter valued at about $40,000. Quarry LP purchased a new position in Elastic in the 2nd quarter valued at about $40,000. Lynx Investment Advisory acquired a new stake in shares of Elastic during the 2nd quarter worth about $43,000. Finally, Signaturefd LLC grew its holdings in shares of Elastic by 44.1% during the second quarter. Signaturefd LLC now owns 389 shares of the company’s stock worth $44,000 after buying an additional 119 shares in the last quarter. Hedge funds and other institutional investors own 97.03% of the company’s stock.

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.