Elastic (NYSE:ESTC) Receives $125.35 Consensus Target Price from Brokerages

Elastic (NYSE:ESTC) has been assigned a consensus recommendation of “Moderate Buy” from the twenty-six research firms that are currently covering the firm, MarketBeat Ratings reports. Seven analysts have rated the stock with a hold recommendation, eighteen have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 1-year target price among brokers that have covered the stock in the last year is $125.35.

Several brokerages have recently issued reports on ESTC. JPMorgan Chase & Co. boosted their price objective on shares of Elastic from $100.00 to $130.00 and gave the company an “overweight” rating in a research note on Friday, November 22nd. Baird R W upgraded Elastic from a “hold” rating to a “strong-buy” rating in a research note on Friday, November 22nd. Robert W. Baird raised Elastic from a “neutral” rating to an “outperform” rating and lifted their price objective for the company from $95.00 to $135.00 in a research note on Friday, November 22nd. Morgan Stanley began coverage on Elastic in a report on Tuesday, December 17th. They set an “overweight” rating and a $130.00 target price for the company. Finally, Oppenheimer raised their price target on shares of Elastic from $125.00 to $140.00 and gave the company an “outperform” rating in a report on Friday, November 22nd.

Insider Buying and Selling at Elastic

In other news, CTO Shay Banon sold 150,000 shares of the stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $110.92, for a total transaction of $16,638,000.00. Following the transaction, the chief technology officer now owns 2,604,978 shares of the company’s stock, valued at approximately $288,944,159.76. This trade represents a 5.44 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Carolyn Herzog sold 11,145 shares of the stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $111.34, for a total transaction of $1,240,884.30. Following the transaction, the insider now directly owns 92,011 shares in the company, valued at $10,244,504.74. The trade was a 10.80 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 168,162 shares of company stock valued at $18,637,562 in the last ninety days. Insiders own 15.90% of the company’s stock.

Institutional Investors Weigh In On Elastic

Several institutional investors and hedge funds have recently bought and sold shares of the business. Public Employees Retirement System of Ohio raised its stake in Elastic by 1.2% during the fourth quarter. Public Employees Retirement System of Ohio now owns 29,907 shares of the company’s stock worth $2,963,000 after acquiring an additional 359 shares during the period. Fourth Dimension Wealth LLC acquired a new position in shares of Elastic during the fourth quarter valued at approximately $26,000. Sylebra Capital LLC boosted its holdings in Elastic by 62.6% during the fourth quarter. Sylebra Capital LLC now owns 4,561,462 shares of the company’s stock worth $451,950,000 after buying an additional 1,756,842 shares in the last quarter. Castleark Management LLC bought a new stake in Elastic during the fourth quarter worth approximately $362,000. Finally, PharVision Advisers LLC bought a new stake in Elastic during the fourth quarter worth approximately $315,000. Institutional investors and hedge funds own 97.03% of the company’s stock.

Elastic Price Performance

Elastic stock opened at $106.30 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 0.70, a quick ratio of 1.99 and a current ratio of 1.99. The firm has a 50 day moving average price of $105.99 and a 200 day moving average price of $95.51. The company has a market cap of $11.02 billion, a price-to-earnings ratio of 193.27 and a beta of 1.07.

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.