Elastic (NYSE:ESTC) has been assigned a consensus recommendation of “Buy” from the twenty brokerages that are presently covering the stock, Marketbeat Ratings reports. Five analysts have rated the stock with a hold rating and twelve have issued a buy rating on the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $176.94.
ESTC has been the subject of a number of recent research reports. Robert W. Baird boosted their price objective on shares of Elastic from $150.00 to $170.00 and gave the company a “neutral” rating in a report on Thursday, December 2nd. JPMorgan Chase & Co. raised shares of Elastic from a “neutral” rating to an “overweight” rating and set a $156.00 price objective for the company in a report on Wednesday, December 8th. Bank of America boosted their price objective on shares of Elastic from $184.00 to $185.00 and gave the company a “buy” rating in a report on Thursday, December 2nd. Piper Sandler cut their price objective on shares of Elastic from $175.00 to $155.00 in a report on Thursday, January 6th. Finally, Zacks Investment Research raised shares of Elastic from a “sell” rating to a “hold” rating in a report on Monday, October 25th.
In other news, Director Jonathan Chadwick sold 6,250 shares of the stock in a transaction dated Wednesday, October 27th. The shares were sold at an average price of $169.24, for a total value of $1,057,750.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Shay Banon sold 2,074 shares of the stock in a transaction dated Thursday, December 9th. The shares were sold at an average price of $122.87, for a total transaction of $254,832.38. The disclosure for this sale can be found here. Over the last three months, insiders have sold 128,518 shares of company stock worth $22,033,083. 20.40% of the stock is owned by insiders.
There are 5.8 million people currently living with Alzheimer’s… Each patient is worth, on average, $27,672 a year.
This is why companies like this one are fighting so hard for a piece of your medicine cabinet.
This gives investors like you a huge opportunity.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. State of Alaska Department of Revenue purchased a new stake in Elastic during the fourth quarter worth about $534,000. Balyasny Asset Management LLC increased its stake in shares of Elastic by 38.0% in the third quarter. Balyasny Asset Management LLC now owns 280,275 shares of the company’s stock worth $41,758,000 after purchasing an additional 77,184 shares in the last quarter. Bank of New York Mellon Corp increased its stake in shares of Elastic by 5.0% in the third quarter. Bank of New York Mellon Corp now owns 387,260 shares of the company’s stock worth $57,697,000 after purchasing an additional 18,370 shares in the last quarter. Park West Asset Management LLC purchased a new position in shares of Elastic in the third quarter worth about $22,721,000. Finally, Suvretta Capital Management LLC purchased a new position in shares of Elastic in the third quarter worth about $40,376,000. Institutional investors and hedge funds own 75.27% of the company’s stock.
Elastic stock opened at $94.54 on Monday. The firm has a market capitalization of $8.76 billion, a PE ratio of -52.52 and a beta of 1.10. The company’s 50-day moving average is $135.01 and its 200-day moving average is $149.30. Elastic has a fifty-two week low of $93.66 and a fifty-two week high of $189.84. The company has a debt-to-equity ratio of 1.26, a current ratio of 2.31 and a quick ratio of 2.31.
Elastic (NYSE:ESTC) last released its quarterly earnings data on Wednesday, December 1st. The company reported ($0.09) earnings per share for the quarter, topping the consensus estimate of ($0.16) by $0.07. The company had revenue of $206.00 million for the quarter, compared to analyst estimates of $194.57 million. Elastic had a negative net margin of 22.18% and a negative return on equity of 29.19%. Elastic’s revenue for the quarter was up 42.1% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.22) EPS. As a group, analysts expect that Elastic will post -1.82 EPS for the current year.
Elastic Company Profile
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.
Featured Article: Marijuana Stocks Future Looks Bright
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to [email protected]
Should you invest $1,000 in Elastic right now?
Before you consider Elastic, you’ll want to hear this.
MarketBeat keeps track of Wall Street’s top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on… and Elastic wasn’t on the list.
While Elastic currently has a “Buy” rating among analysts, top-rated analysts believe these five stocks are better buys.
View The 5 Stocks Here
Â
Be the first to comment