Elastic (NYSE:ESTC) Given New $135.00 Price Target at Piper Sandler

Elastic (NYSE:ESTC) had its price objective increased by Piper Sandler from $130.00 to $135.00 in a research report sent to investors on Friday morning,Benzinga reports. Piper Sandler currently has an overweight rating on the stock.

ESTC has been the topic of several other reports. The Goldman Sachs Group upped their target price on Elastic from $99.00 to $113.00 and gave the stock a “neutral” rating in a research report on Friday, November 22nd. Oppenheimer increased their price objective on Elastic from $125.00 to $140.00 and gave the company an “outperform” rating in a report on Friday, November 22nd. Robert W. Baird raised Elastic from a “neutral” rating to an “outperform” rating and increased their price objective for the company from $95.00 to $135.00 in a report on Friday, November 22nd. JPMorgan Chase & Co. increased their price objective on Elastic from $100.00 to $130.00 and gave the company an “overweight” rating in a report on Friday, November 22nd. Finally, Rosenblatt Securities reissued a “buy” rating and set a $130.00 price objective on shares of Elastic in a report on Tuesday. Seven equities research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $131.09.

Elastic Trading Up 14.9 %

Shares of NYSE ESTC opened at $116.38 on Friday. Elastic has a 12 month low of $69.00 and a 12 month high of $136.06. The company has a market cap of $12.06 billion, a price-to-earnings ratio of 211.61 and a beta of 1.07. The company has a quick ratio of 1.99, a current ratio of 1.99 and a debt-to-equity ratio of 0.70. The business has a fifty day simple moving average of $105.85 and a 200-day simple moving average of $95.51.

Elastic (NYSE:ESTC) last announced its earnings results on Thursday, February 27th. The company reported ($0.01) EPS for the quarter, missing the consensus estimate of $0.47 by ($0.48). The company had revenue of $382.08 million for the quarter, compared to analysts’ expectations of $368.85 million. Elastic had a net margin of 4.39% and a negative return on equity of 13.20%. Sell-side analysts predict that Elastic will post -0.77 EPS for the current year.

Insider Buying and Selling at Elastic

In other Elastic news, CEO Ashutosh Kulkarni sold 7,017 shares of Elastic stock in a transaction 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 completion of the transaction, the chief executive officer now owns 395,326 shares in the company, valued at approximately $42,742,647.12. The trade was a 1.74 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 15.90% of the company’s stock.

Institutional Investors Weigh In On Elastic

Several hedge funds and other institutional investors have recently made changes to their positions in ESTC. Private Advisor Group LLC acquired a new stake in shares of Elastic in the 3rd quarter valued at $211,000. Van ECK Associates Corp acquired a new stake in shares of Elastic during the third quarter worth $2,540,000. Fernwood Investment Management LLC grew its stake in shares of Elastic by 1.3% during the third quarter. Fernwood Investment Management LLC now owns 26,650 shares of the company’s stock worth $2,046,000 after purchasing an additional 350 shares during the period. QRG Capital Management Inc. grew its stake in shares of Elastic by 7.0% during the third quarter. QRG Capital Management Inc. now owns 3,063 shares of the company’s stock worth $235,000 after purchasing an additional 201 shares during the period. Finally, Fiera Capital Corp acquired a new stake in shares of Elastic during the third quarter worth $15,623,000. 97.03% of the stock is owned by institutional investors and hedge funds.

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.