Cantor Fitzgerald Begins Coverage on Elastic (NYSE:ESTC)

Stock analysts at Cantor Fitzgerald initiated coverage on shares of Elastic (NYSE:ESTC) in a research report issued to clients and investors on Friday, Marketbeat reports. The firm set a “neutral” rating and a $108.00 price target on the stock. Cantor Fitzgerald’s target price suggests a potential upside of 7.48% from the stock’s current price.

A number of other equities analysts have also issued reports on the company. Piper Sandler increased their price target on Elastic from $100.00 to $130.00 and gave the company an “overweight” rating in a research note on Friday, November 22nd. Royal Bank of Canada raised their target price on Elastic from $110.00 to $130.00 and gave the company an “outperform” rating in a research note on Friday, November 22nd. Oppenheimer boosted their price target on shares of Elastic from $125.00 to $140.00 and gave the stock an “outperform” rating in a research report on Friday, November 22nd. Rosenblatt Securities restated a “buy” rating and set a $120.00 price objective on shares of Elastic in a research report on Wednesday, November 20th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Elastic from $100.00 to $130.00 and gave the stock an “overweight” rating in a report on Friday, November 22nd. Seven research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $125.70.

Elastic Trading Up 0.5 %

Shares of NYSE:ESTC opened at $100.49 on Friday. The company has a 50 day moving average of $101.65 and a 200-day moving average of $95.74. The company has a current ratio of 1.99, a quick ratio of 1.99 and a debt-to-equity ratio of 0.70. The firm has a market cap of $10.41 billion, a P/E ratio of 182.70 and a beta of 1.06. Elastic has a twelve month low of $69.00 and a twelve month high of $136.06.

Insider Activity at Elastic

In related news, CTO Shay Banon sold 150,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $110.92, for a total value of $16,638,000.00. Following the completion of the sale, the chief technology officer now directly owns 2,604,978 shares in the company, valued at approximately $288,944,159.76. The trade was a 5.44 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Ashutosh Kulkarni sold 7,017 shares of the company’s stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $108.12, for a total value of $758,678.04. Following the sale, the chief executive officer now directly owns 395,326 shares of the company’s stock, valued at $42,742,647.12. The trade was a 1.74 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 168,162 shares of company stock valued at $18,637,562. Insiders own 15.90% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of ESTC. Quarry LP bought a new position in shares of Elastic in the second quarter worth about $40,000. Eastern Bank bought a new position in Elastic in the 3rd quarter worth approximately $61,000. FNY Investment Advisers LLC lifted its holdings in shares of Elastic by 87.3% during the fourth quarter. FNY Investment Advisers LLC now owns 749 shares of the company’s stock worth $74,000 after buying an additional 349 shares during the last quarter. Blue Trust Inc. boosted its position in shares of Elastic by 21.2% in the third quarter. Blue Trust Inc. now owns 2,582 shares of the company’s stock valued at $198,000 after acquiring an additional 452 shares during the period. Finally, Janney Montgomery Scott LLC acquired a new stake in shares of Elastic in the fourth quarter worth $202,000. 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.