Brokerages Set Elastic N.V. (NYSE:ESTC) Price Target at $120.00

Elastic N.V. (NYSE:ESTC) has earned a consensus rating of “Moderate Buy” from the thirty-two ratings firms that are currently covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the company. The average 1-year price objective among brokers that have covered the stock in the last year is $118.80.

Several equities research analysts have weighed in on ESTC shares. Stifel Nicolaus raised their price objective on shares of Elastic from $112.00 to $134.00 and gave the company a “buy” rating in a research report on Friday, August 29th. Jefferies Financial Group upped their price objective on Elastic from $110.00 to $125.00 and gave the stock a “buy” rating in a report on Friday, August 29th. Barclays upped their price objective on Elastic from $105.00 to $125.00 and gave the stock an “overweight” rating in a report on Friday, August 29th. Rosenblatt Securities restated a “buy” rating and set a $130.00 target price on shares of Elastic in a research report on Friday, August 29th. Finally, Scotiabank reiterated an “outperform” rating on shares of Elastic in a research report on Friday, August 29th.

Insider Buying and Selling

In related news, insider Carolyn Herzog sold 5,143 shares of the stock in a transaction that occurred on Tuesday, September 9th. The shares were sold at an average price of $90.12, for a total value of $463,487.16. Following the transaction, the insider directly owned 94,677 shares in the company, valued at $8,532,291.24. This represents a 5.15% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Ashutosh Kulkarni sold 19,622 shares of the stock in a transaction that occurred on Tuesday, September 9th. The shares were sold at an average price of $90.12, for a total transaction of $1,768,334.64. Following the completion of the transaction, the chief executive officer owned 457,314 shares in the company, valued at $41,213,137.68. This represents a 4.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 349,536 shares of company stock worth $30,872,136. 12.70% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Elastic

A number of hedge funds have recently modified their holdings of the business. Signaturefd LLC raised its position in shares of Elastic by 53.7% during the first quarter. Signaturefd LLC now owns 335 shares of the company’s stock worth $30,000 after purchasing an additional 117 shares during the period. Parallel Advisors LLC grew its holdings in shares of Elastic by 4.5% during the first quarter. Parallel Advisors LLC now owns 3,396 shares of the company’s stock worth $303,000 after buying an additional 145 shares in the last quarter. Y.D. More Investments Ltd boosted its position in Elastic by 0.5% during the 1st quarter. Y.D. More Investments Ltd now owns 29,742 shares of the company’s stock worth $2,756,000 after acquiring an additional 145 shares during the last quarter. Smartleaf Asset Management LLC boosted its holdings in Elastic by 53.7% during the first quarter. Smartleaf Asset Management LLC now owns 435 shares of the company’s stock worth $40,000 after purchasing an additional 152 shares during the last quarter. Finally, WCM Investment Management LLC increased its stake in Elastic by 0.7% in the 1st quarter. WCM Investment Management LLC now owns 23,811 shares of the company’s stock valued at $2,183,000 after buying an additional 169 shares during the last quarter. Institutional investors and hedge funds own 97.03% of the company’s stock.

Elastic Stock Down 2.2%

NYSE ESTC opened at $85.69 on Friday. The firm has a market cap of $9.11 billion, a PE ratio of -107.11 and a beta of 1.05. Elastic has a one year low of $70.14 and a one year high of $118.84. The stock’s 50 day simple moving average is $83.67 and its 200 day simple moving average is $85.02. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.09 and a quick ratio of 2.09.

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.