Elastic (NYSE:ESTC) Reaches New 52-Week High at $176.59

Shares of Elastic (NYSE:ESTC) hit a new 52-week high on Thursday . The company traded as high as $176.59 and last traded at $175.91, with a volume of 8268 shares trading hands. The stock had previously closed at $168.66.

A number of brokerages have recently weighed in on ESTC. Rosenblatt Securities increased their price objective on Elastic from $180.00 to $185.00 and gave the company a “buy” rating in a report on Thursday, August 26th. Zacks Investment Research lowered Elastic from a “hold” rating to a “sell” rating in a report on Wednesday. Oppenheimer raised their target price on Elastic from $170.00 to $185.00 and gave the stock an “outperform” rating in a report on Thursday, August 26th. Stifel Nicolaus raised their target price on Elastic from $180.00 to $200.00 and gave the stock a “buy” rating in a report on Thursday, August 26th. Finally, Jefferies Financial Group raised their target price on Elastic from $150.00 to $175.00 and gave the stock a “buy” rating in a report on Tuesday, July 13th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $182.37.

The firm has a market cap of $15.91 billion, a PE ratio of -108.52 and a beta of 1.10. The firm has a 50-day moving average price of $157.80 and a two-hundred day moving average price of $139.68. The company has a quick ratio of 2.71, a current ratio of 2.71 and a debt-to-equity ratio of 1.24.

Elastic (NYSE:ESTC) last released its earnings results on Tuesday, August 24th. The company reported $0.04 earnings per share for the quarter, beating the consensus estimate of ($0.10) by $0.14. The business had revenue of $193.10 million for the quarter, compared to the consensus estimate of $173.21 million. Elastic had a negative return on equity of 26.26% and a negative net margin of 21.54%. The business’s quarterly revenue was up 49.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.06 earnings per share. Research analysts forecast that Elastic will post -1.85 earnings per share for the current fiscal year.

In other Elastic news, Director Peter H. Fenton sold 48,000 shares of the firm’s stock in a transaction on Monday, September 27th. The stock was sold at an average price of $163.81, for a total transaction of $7,862,880.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Steven Schuurman sold 500,000 shares of Elastic stock in a transaction on Wednesday, September 8th. The shares were sold at an average price of $165.35, for a total value of $82,675,000.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 569,628 shares of company stock worth $93,972,004. 20.40% of the stock is currently owned by company insiders.

Several hedge funds and other institutional investors have recently modified their holdings of ESTC. Advisor Group Holdings Inc. grew its stake in Elastic by 16.2% during the 2nd quarter. Advisor Group Holdings Inc. now owns 7,679 shares of the company’s stock worth $1,119,000 after purchasing an additional 1,069 shares in the last quarter. Sylebra Capital Ltd grew its stake in Elastic by 7.3% during the 1st quarter. Sylebra Capital Ltd now owns 5,048,948 shares of the company’s stock worth $561,443,000 after purchasing an additional 343,631 shares in the last quarter. Mawer Investment Management Ltd. grew its stake in Elastic by 4.2% during the 2nd quarter. Mawer Investment Management Ltd. now owns 768,860 shares of the company’s stock worth $112,069,000 after purchasing an additional 30,968 shares in the last quarter. XN Exponent Advisors LLC grew its stake in Elastic by 66.1% during the 1st quarter. XN Exponent Advisors LLC now owns 963,205 shares of the company’s stock worth $107,108,000 after purchasing an additional 383,300 shares in the last quarter. Finally, Capital International Investors grew its stake in Elastic by 5.1% during the 1st quarter. Capital International Investors now owns 2,436,820 shares of the company’s stock worth $270,974,000 after purchasing an additional 119,190 shares in the last quarter. 75.60% of the stock is owned by institutional investors and hedge funds.

About Elastic (NYSE:ESTC)

Elastic NV engages in the provision of open source search and analytics engine services. It offers Elastic Stack, a set of software products that ingest and store data from various sources and formats, as well as perform search, analysis, and visualization. The firms Elastic Stack product comprises Elasticsearch, a distributed, real-time search and analytics engine, and data store for various types of data, including textual, numerical, geospatial, structured, and unstructured; Kibana, a user interface, management, and configuration interface for the Elastic Stack; Beats, a single-purpose data shippers for sending data from edge machines to Elasticsearch or Logstash; and Logstash, a data processing pipeline for ingesting data into Elasticsearch or other storage systems.

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