Elastic (NYSE:ESTC) Upgraded at Baird R W

Elastic (NYSE:ESTC) was upgraded by analysts at Baird R W from a “hold” rating to a “strong-buy” rating in a note issued to investors on Friday,Zacks.com reports.

ESTC has been the topic of several other research reports. Oppenheimer boosted their price objective on Elastic from $125.00 to $140.00 and gave the company an “outperform” rating in a report on Friday. DA Davidson increased their price objective on Elastic from $75.00 to $115.00 and gave the company a “neutral” rating in a report on Friday. Wedbush raised Elastic to a “hold” rating in a research report on Thursday, October 17th. Rosenblatt Securities reissued a “buy” rating and issued a $120.00 target price on shares of Elastic in a research report on Wednesday. Finally, Wells Fargo & Company increased their price objective on Elastic from $100.00 to $135.00 and gave the stock an “overweight” rating in a research report on Friday. Six equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $122.00.

Elastic Price Performance

ESTC stock opened at $107.94 on Friday. The company has a current ratio of 1.91, a quick ratio of 1.91 and a debt-to-equity ratio of 0.75. The company has a market capitalization of $11.09 billion, a PE ratio of 196.25 and a beta of 0.94. Elastic has a 12-month low of $69.00 and a 12-month high of $136.06. The business’s fifty day moving average price is $81.13 and its 200 day moving average price is $97.04.

Elastic (NYSE:ESTC) last posted its quarterly earnings data on Thursday, August 29th. The company reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.25 by $0.10. The firm had revenue of $347.42 million for the quarter, compared to the consensus estimate of $344.67 million. Elastic had a negative return on equity of 13.54% and a net margin of 4.39%. The company’s quarterly revenue was up 18.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.35) EPS. On average, sell-side analysts anticipate that Elastic will post -0.92 EPS for the current year.

Insiders Place Their Bets

In other Elastic news, Director Paul R. Auvil III bought 20,000 shares of the stock in a transaction on Tuesday, September 3rd. The stock was purchased at an average price of $74.25 per share, with a total value of $1,485,000.00. Following the acquisition, the director now owns 22,627 shares of the company’s stock, valued at approximately $1,680,054.75. The trade was a 761.32 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CTO Shay Banon sold 2,666 shares of the business’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $70.25, for a total transaction of $187,286.50. Following the completion of the transaction, the chief technology officer now directly owns 4,543,190 shares of the company’s stock, valued at $319,159,097.50. This trade represents a 0.06 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 37,406 shares of company stock valued at $2,627,772 over the last three months. 15.90% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Elastic

A number of institutional investors and hedge funds have recently modified their holdings of the company. Advisors Asset Management Inc. grew its stake in Elastic by 12.7% in the 1st quarter. Advisors Asset Management Inc. now owns 1,053 shares of the company’s stock valued at $106,000 after buying an additional 119 shares during the last quarter. Signaturefd LLC grew its stake in Elastic by 44.1% in the 2nd quarter. Signaturefd LLC now owns 389 shares of the company’s stock valued at $44,000 after buying an additional 119 shares during the last quarter. M&T Bank Corp grew its stake in Elastic by 3.1% in the 3rd quarter. M&T Bank Corp now owns 4,652 shares of the company’s stock valued at $357,000 after buying an additional 139 shares during the last quarter. QRG Capital Management Inc. grew its stake in Elastic by 7.0% in the 3rd quarter. QRG Capital Management Inc. now owns 3,063 shares of the company’s stock valued at $235,000 after buying an additional 201 shares during the last quarter. Finally, Oppenheimer & Co. Inc. grew its stake in Elastic by 3.3% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 6,810 shares of the company’s stock valued at $523,000 after buying an additional 219 shares during the last quarter. 97.03% of the stock is owned by institutional investors.

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.