Analysts Set Elastic (NYSE:ESTC) Price Target at $126.33

Shares of Elastic (NYSE:ESTC) have been given a consensus rating of “Moderate Buy” by the twenty-four research firms that are currently covering the firm, Marketbeat.com reports. Five equities research analysts have rated the stock with a hold recommendation, eighteen have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price objective among analysts that have covered the stock in the last year is $126.33.

Several analysts recently issued reports on ESTC shares. Oppenheimer boosted their target price on shares of Elastic from $125.00 to $140.00 and gave the company an “outperform” rating in a research report on Friday, November 22nd. Bank of America upped their price objective on Elastic from $94.00 to $120.00 and gave the stock a “neutral” rating in a research note on Friday, November 22nd. Guggenheim lifted their target price on Elastic from $100.00 to $120.00 and gave the company a “buy” rating in a research report on Friday, November 22nd. DA Davidson upped their price target on Elastic from $75.00 to $115.00 and gave the stock a “neutral” rating in a research report on Friday, November 22nd. Finally, JPMorgan Chase & Co. lifted their price objective on Elastic from $100.00 to $130.00 and gave the company an “overweight” rating in a research report on Friday, November 22nd.

Insider Buying and Selling

In other Elastic news, CFO Janesh Moorjani sold 6,941 shares of the business’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 $487,605.25. Following the sale, the chief financial officer now directly owns 195,550 shares of the company’s stock, valued at $13,737,387.50. The trade was a 3.43 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Ashutosh Kulkarni sold 19,649 shares of the company’s stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $70.25, for a total value of $1,380,342.25. Following the sale, the chief executive officer now owns 432,648 shares in the company, valued at approximately $30,393,522. This trade represents a 4.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 198,551 shares of company stock worth $20,506,656. Insiders own 15.90% of the company’s stock.

Hedge Funds Weigh In On Elastic

Several large investors have recently modified their holdings of the stock. Asset Dedication LLC grew its holdings in Elastic by 1,333.3% during the 2nd quarter. Asset Dedication LLC now owns 301 shares of the company’s stock valued at $34,000 after purchasing an additional 280 shares during the last quarter. AlphaCentric Advisors LLC purchased a new position in shares of Elastic during the second quarter valued at approximately $40,000. Quarry LP bought a new position in shares of Elastic during the second quarter valued at approximately $40,000. Lynx Investment Advisory purchased a new stake in shares of Elastic in the second quarter worth approximately $43,000. Finally, Signaturefd LLC lifted its stake in shares of Elastic by 44.1% during the 2nd quarter. Signaturefd LLC now owns 389 shares of the company’s stock worth $44,000 after acquiring an additional 119 shares during the last quarter. Institutional investors own 97.03% of the company’s stock.

Elastic Trading Down 0.5 %

Shares of NYSE:ESTC opened at $110.98 on Monday. The stock’s 50-day simple moving average is $88.79 and its two-hundred day simple moving average is $97.30. The stock has a market capitalization of $11.50 billion, a price-to-earnings ratio of 201.78 and a beta of 1.02. Elastic has a 52-week low of $69.00 and a 52-week 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.

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.