Shares of Elastic (NYSE:ESTC – Get Free Report) have been assigned a consensus rating of “Moderate Buy” from the twenty-one ratings firms that are currently covering the stock, Marketbeat.com reports. Six analysts have rated the stock with a hold rating and fifteen have issued a buy rating on the company. The average 1-year target price among brokerages that have covered the stock in the last year is $118.05.
A number of analysts recently issued reports on the stock. Needham & Company LLC restated a “hold” rating on shares of Elastic in a research note on Friday, May 31st. UBS Group began coverage on Elastic in a research report on Wednesday, May 22nd. They issued a “buy” rating and a $135.00 target price for the company. Bank of America dropped their price target on Elastic from $150.00 to $140.00 and set a “buy” rating on the stock in a research report on Friday, May 31st. Citigroup lifted their price objective on shares of Elastic from $145.00 to $155.00 and gave the stock a “buy” rating in a report on Monday, June 3rd. Finally, Canaccord Genuity Group dropped their target price on shares of Elastic from $130.00 to $125.00 and set a “buy” rating on the stock in a report on Friday, May 31st.
Get Our Latest Stock Analysis on Elastic
Insiders Place Their Bets
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently made changes to their positions in ESTC. Sylebra Capital LLC acquired a new position in Elastic in the 3rd quarter worth approximately $318,822,000. Baillie Gifford & Co. boosted its position in shares of Elastic by 30.8% in the first quarter. Baillie Gifford & Co. now owns 10,156,726 shares of the company’s stock worth $1,018,110,000 after buying an additional 2,392,356 shares during the period. Norges Bank purchased a new position in shares of Elastic during the fourth quarter valued at $92,847,000. 1832 Asset Management L.P. acquired a new position in Elastic during the fourth quarter valued at $58,153,000. Finally, Vanguard Group Inc. lifted its stake in Elastic by 4.6% in the 3rd quarter. Vanguard Group Inc. now owns 8,573,534 shares of the company’s stock worth $696,514,000 after acquiring an additional 380,694 shares in the last quarter. 97.03% of the stock is currently owned by institutional investors and hedge funds.
Elastic Stock Performance
Shares of NYSE:ESTC opened at $120.61 on Friday. The company has a market cap of $12.27 billion, a P/E ratio of 227.57 and a beta of 0.98. Elastic has a one year low of $57.38 and a one year high of $136.06. The business’s 50-day simple moving average is $109.56 and its 200 day simple moving average is $110.59. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.76 and a current ratio of 1.76.
Elastic (NYSE:ESTC – Get Free Report) last announced its earnings results on Thursday, May 30th. The company reported ($0.39) earnings per share for the quarter, missing the consensus estimate of ($0.36) by ($0.03). The firm had revenue of $335.00 million during the quarter, compared to analysts’ expectations of $329.15 million. Elastic had a net margin of 4.87% and a negative return on equity of 20.83%. On average, sell-side analysts forecast that Elastic will post -1.12 earnings per share for the current fiscal year.
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.
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