Elastic (NYSE:ESTC) Coverage Initiated at Guggenheim

Investment analysts at Guggenheim began coverage on shares of Elastic (NYSE:ESTC) in a report released on Wednesday, MarketBeat reports. The brokerage set a “buy” rating and a $100.00 price target on the stock. Guggenheim’s target price points to a potential upside of 38.70% from the stock’s current price.

Other equities research analysts have also issued reports about the company. Canaccord Genuity Group decreased their price target on Elastic from $125.00 to $110.00 and set a “buy” rating on the stock in a research report on Tuesday, September 3rd. Barclays lowered their target price on Elastic from $117.00 to $106.00 and set an “equal weight” rating for the company in a research note on Friday, August 30th. Scotiabank cut their price target on Elastic from $135.00 to $92.00 and set a “sector outperform” rating for the company in a report on Friday, August 30th. UBS Group decreased their price objective on shares of Elastic from $135.00 to $95.00 and set a “buy” rating on the stock in a report on Friday, August 30th. Finally, Robert W. Baird downgraded shares of Elastic from an “outperform” rating to a “neutral” rating and dropped their target price for the stock from $135.00 to $95.00 in a research note on Friday, August 30th. Nine research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $104.24.

Elastic Trading Up 1.4 %

Shares of Elastic stock opened at $72.10 on Wednesday. Elastic has a 52-week low of $69.00 and a 52-week high of $136.06. The firm has a market capitalization of $7.41 billion, a PE ratio of 136.04 and a beta of 0.95. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.91 and a quick ratio of 1.91. The company’s fifty day moving average price is $104.14 and its two-hundred day moving average price is $105.50.

Elastic (NYSE:ESTC) last released its quarterly earnings data on Thursday, August 29th. The company reported $0.35 earnings per share for the quarter, beating the consensus estimate of $0.25 by $0.10. The company had revenue of $347.42 million for the quarter, compared to analyst estimates of $344.67 million. Elastic had a negative return on equity of 17.54% and a net margin of 4.62%. The company’s revenue was up 18.3% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.35) EPS. On average, analysts expect that Elastic will post -0.94 EPS for the current year.

Insider Transactions at Elastic

In other Elastic news, CTO Shay Banon sold 180,000 shares of Elastic stock in a transaction on Friday, June 21st. The shares were sold at an average price of $107.82, for a total value of $19,407,600.00. Following the sale, the chief technology officer now directly owns 2,874,978 shares in the company, valued at approximately $309,980,127.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, CRO Mark Eugene Dodds sold 3,661 shares of the stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $70.25, for a total value of $257,185.25. Following the completion of the sale, the executive now owns 102,683 shares of the company’s stock, valued at approximately $7,213,480.75. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CTO Shay Banon sold 180,000 shares of the business’s stock in a transaction on Friday, June 21st. The stock was sold at an average price of $107.82, for a total transaction of $19,407,600.00. Following the transaction, the chief technology officer now owns 2,874,978 shares in the company, valued at $309,980,127.96. The disclosure for this sale can be found here. Insiders sold 347,070 shares of company stock valued at $36,234,852 in the last ninety days. 18.10% of the stock is currently owned by corporate insiders.

Institutional Trading of Elastic

Several institutional investors and hedge funds have recently bought and sold shares of ESTC. Asset Dedication LLC lifted its stake in shares of Elastic by 1,333.3% during the 2nd quarter. Asset Dedication LLC now owns 301 shares of the company’s stock worth $34,000 after buying an additional 280 shares during the last quarter. AlphaCentric Advisors LLC acquired a new stake in Elastic during the second quarter worth approximately $40,000. Quarry LP acquired a new stake in Elastic during the second quarter worth approximately $40,000. Lynx Investment Advisory bought a new stake in shares of Elastic during the second quarter worth approximately $43,000. Finally, Signaturefd LLC grew its position in shares of Elastic by 44.1% in the second quarter. Signaturefd LLC now owns 389 shares of the company’s stock valued at $44,000 after purchasing an additional 119 shares during the last quarter. Institutional investors own 97.03% of the company’s stock.

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.