Elastic (NYSE:ESTC) Research Coverage Started at UBS Group

UBS Group initiated coverage on shares of Elastic (NYSE:ESTC) in a research note released on Wednesday, Marketbeat Ratings reports. The firm issued a buy rating and a $135.00 price objective on the stock.

Other analysts have also issued research reports about the stock. TheStreet upgraded shares of Elastic from a d+ rating to a c- rating in a research report on Wednesday, February 7th. The Goldman Sachs Group raised their target price on shares of Elastic from $93.00 to $106.00 and gave the company a neutral rating in a research report on Friday, March 1st. Barclays cut their target price on shares of Elastic from $130.00 to $128.00 and set an equal weight rating on the stock in a research report on Friday, March 1st. Truist Financial raised their target price on shares of Elastic from $130.00 to $140.00 and gave the company a buy rating in a research report on Tuesday, February 20th. Finally, Citigroup cut their target price on shares of Elastic from $165.00 to $155.00 and set a buy rating on the stock in a research report on Monday, March 4th. Seven research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of Moderate Buy and a consensus target price of $113.80.

Elastic Stock Performance

NYSE ESTC opened at $104.96 on Wednesday. The company has a current ratio of 1.87, a quick ratio of 1.87 and a debt-to-equity ratio of 0.80. The firm has a market capitalization of $10.58 billion, a price-to-earnings ratio of 228.17 and a beta of 0.92. The firm’s 50 day simple moving average is $102.57 and its 200 day simple moving average is $106.70. Elastic has a 1 year low of $57.38 and a 1 year high of $136.06.

Elastic (NYSE:ESTC) last posted its quarterly earnings results on Thursday, February 29th. The company reported ($0.27) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.28) by $0.01. The business had revenue of $327.96 million for the quarter, compared to analyst estimates of $320.48 million. Elastic had a net margin of 4.63% and a negative return on equity of 23.94%. As a group, research analysts expect that Elastic will post -1.13 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Steven Schuurman sold 815,000 shares of Elastic stock in a transaction on Tuesday, March 26th. The shares were sold at an average price of $97.54, for a total transaction of $79,495,100.00. Following the completion of the transaction, the director now owns 8,382,000 shares of the company’s stock, valued at $817,580,280. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Elastic news, insider Carolyn Herzog sold 2,591 shares of the firm’s stock in a transaction on Monday, March 11th. The shares were sold at an average price of $103.28, for a total value of $267,598.48. Following the completion of the sale, the insider now directly owns 87,799 shares in the company, valued at $9,067,880.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Steven Schuurman sold 815,000 shares of the firm’s stock in a transaction on Tuesday, March 26th. The stock was sold at an average price of $97.54, for a total transaction of $79,495,100.00. Following the completion of the sale, the director now owns 8,382,000 shares of the company’s stock, valued at $817,580,280. The disclosure for this sale can be found here. Insiders sold 962,440 shares of company stock valued at $94,535,764 over the last quarter. Insiders own 18.10% of the company’s stock.

Institutional Investors Weigh In On Elastic

Large investors have recently bought and sold shares of the stock. Vanguard Group Inc. grew its holdings in shares of Elastic by 4.6% during the third quarter. Vanguard Group Inc. now owns 8,573,534 shares of the company’s stock valued at $696,514,000 after buying an additional 380,694 shares during the last quarter. International Assets Investment Management LLC acquired a new position in shares of Elastic during the fourth quarter valued at about $25,660,000. UBS Group AG grew its holdings in shares of Elastic by 28.0% during the third quarter. UBS Group AG now owns 56,805 shares of the company’s stock valued at $4,615,000 after buying an additional 12,430 shares during the last quarter. Northern Trust Corp grew its holdings in shares of Elastic by 3.8% during the third quarter. Northern Trust Corp now owns 372,712 shares of the company’s stock valued at $30,279,000 after buying an additional 13,587 shares during the last quarter. Finally, M&T Bank Corp acquired a new position in shares of Elastic during the third quarter valued at about $230,000. 97.03% of the stock is currently 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.