Elastic (NYSE:ESTC) Receives Average Rating of "Buy" from Brokerages
Shares of Elastic (NYSE:ESTC) have earned a consensus rating of "Buy" from the twenty-one ratings firms that are presently covering the firm, MarketBeat.com reports. Four analysts have rated the stock with a…
From the Equity Insider archive. This article dates from Dec 23, 2021 and is preserved as first published.
Shares of Elastic (NYSE:ESTC) have earned a consensus rating of “Buy” from the twenty-one ratings firms that are presently covering the firm, MarketBeat.com reports. Four analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $184.74.
Several research firms recently commented on ESTC. Oppenheimer lifted their price objective on Elastic from $170.00 to $185.00 and gave the stock an “outperform” rating in a report on Thursday, August 26th. Zacks Investment Research upgraded Elastic from a “sell” rating to a “hold” rating in a report on Monday, October 25th. JPMorgan Chase & Co. raised Elastic from a “neutral” rating to an “overweight” rating and set a $156.00 price objective on the stock in a research report on Wednesday, December 8th. Barclays boosted their price target on Elastic from $185.00 to $200.00 and gave the stock an “overweight” rating in a report on Friday, September 17th. They noted that the move was a valuation call. Finally, Robert W. Baird boosted their target price on Elastic from $150.00 to $170.00 and gave the company a “neutral” rating in a research report on Thursday, December 2nd.
NYSE ESTC opened at $122.25 on Thursday. Elastic has a 52 week low of $97.89 and a 52 week high of $189.84. The company has a market cap of $11.32 billion, a PE ratio of -67.92 and a beta of 1.18. The company has a quick ratio of 2.31, a current ratio of 2.31 and a debt-to-equity ratio of 1.26. The firm’s 50-day simple moving average is $154.02 and its two-hundred day simple moving average is $152.37.
Elastic (NYSE:ESTC) last issued its earnings results on Wednesday, December 1st. The company reported ($0.09) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.16) by $0.07. Elastic had a negative net margin of 22.18% and a negative return on equity of 29.19%. The firm had revenue of $206.00 million for the quarter, compared to analysts’ expectations of $194.57 million. During the same quarter last year, the business earned ($0.22) earnings per share. The business’s revenue was up 42.1% on a year-over-year basis. As a group, equities research analysts anticipate that Elastic will post -1.82 EPS for the current year.
Elastic (NYSE:ESTC) last issued its earnings results on Wednesday, December 1st.
In other Elastic news, CFO Janesh Moorjani sold 866 shares of the stock in a transaction on Thursday, December 9th. The stock was sold at an average price of $122.87, for a total transaction of $106,405.42. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Shay Banon sold 2,074 shares of the stock in a transaction on Thursday, December 9th. The stock was sold at an average price of $122.87, for a total value of $254,832.38. The disclosure for this sale can be found here. Insiders sold a total of 246,503 shares of company stock valued at $41,827,006 over the last three months. Company insiders own 20.40% of the company’s stock.
A number of institutional investors have recently bought and sold shares of the business. Total Clarity Wealth Management Inc. acquired a new stake in shares of Elastic in the 3rd quarter valued at $35,000. Berman Capital Advisors LLC increased its holdings in shares of Elastic by 84.5% during the 3rd quarter. Berman Capital Advisors LLC now owns 321 shares of the company’s stock worth $47,000 after purchasing an additional 147 shares during the period. Sandy Spring Bank bought a new stake in Elastic in the third quarter valued at about $56,000. Cullen Frost Bankers Inc. bought a new stake in Elastic in the third quarter valued at about $104,000. Finally, Rockefeller Capital Management L.P. increased its stake in Elastic by 8.8% in the third quarter. Rockefeller Capital Management L.P. now owns 916 shares of the company’s stock valued at $136,000 after acquiring an additional 74 shares during the period. Hedge funds and other institutional investors own 74.18% of the company’s stock.
About Elastic
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.
