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

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

A number of analysts recently commented on ESTC shares. Oppenheimer raised their price target on Elastic from $170.00 to $185.00 and gave the stock an “outperform” rating in a research note on Thursday, August 26th. Zacks Investment Research lowered Elastic from a “hold” rating to a “sell” rating in a research report on Wednesday. Summit Insights initiated coverage on Elastic in a research report on Sunday, June 20th. They set a “buy” rating and a $180.00 price objective for the company. Rosenblatt Securities raised their price objective on Elastic from $180.00 to $185.00 and gave the company a “buy” rating in a research report on Thursday, August 26th. Finally, Sumitomo Mitsui Financial Group initiated coverage on Elastic in a research report on Wednesday, June 16th. They set an “outperform” rating and a $150.00 price objective for the company. One analyst has rated the stock with a sell rating, one has assigned a hold rating and sixteen have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $182.37.

The stock has a 50 day simple moving average of $157.80 and a 200-day simple moving average of $139.68. The firm has a market capitalization of $15.91 billion, a P/E ratio of -108.52 and a beta of 1.10. The company has a current ratio of 2.71, a quick ratio of 2.71 and a debt-to-equity ratio of 1.24.

Elastic (NYSE:ESTC) last released its quarterly earnings results on Tuesday, August 24th. The company reported $0.04 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.10) by $0.14. The business had revenue of $193.10 million during 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 period in the previous year, the company posted $0.06 EPS. As a group, sell-side analysts expect that Elastic will post -1.85 earnings per share for the current fiscal year.

In other news, Director Peter H. Fenton sold 48,000 shares of Elastic stock in a transaction dated 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 SEC, which can be accessed through this hyperlink. Also, Director Steven Schuurman sold 500,000 shares of Elastic stock in a transaction dated 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. Over the last 90 days, insiders have sold 569,628 shares of company stock valued at $93,972,004. Corporate insiders own 20.40% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of ESTC. Berman Capital Advisors LLC lifted its holdings in Elastic by 84.5% in 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 in the last quarter. Maverick Capital Ltd. purchased a new position in Elastic in the 1st quarter worth approximately $65,000. Capital Analysts LLC purchased a new position in Elastic in the 1st quarter worth approximately $98,000. Panagora Asset Management Inc. purchased a new position in Elastic in the 1st quarter worth approximately $112,000. Finally, Rockefeller Capital Management L.P. lifted its holdings in Elastic by 18.8% in the 1st quarter. Rockefeller Capital Management L.P. now owns 1,212 shares of the company’s stock worth $134,000 after purchasing an additional 192 shares in the last quarter. 75.60% of the stock is currently owned by institutional investors.

Elastic Company Profile (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.

See Also: What is a growth and income fund?

Receive News & Ratings for Elastic Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Elastic and related companies with MarketBeat.com's FREE daily email newsletter.