Brokerages Set Elastic (NYSE:ESTC) PT at $125.35

Shares of Elastic (NYSE:ESTC) have been assigned an average rating of “Moderate Buy” from the twenty-six ratings firms that are currently covering the firm, Marketbeat.com reports. Seven analysts have rated the stock with a hold recommendation, eighteen have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $125.35.

A number of research analysts have recently weighed in on the stock. Barclays raised their price target on shares of Elastic from $105.00 to $138.00 and gave the company an “overweight” rating in a report on Monday, November 25th. The Goldman Sachs Group raised their price target on shares of Elastic from $99.00 to $113.00 and gave the company a “neutral” rating in a report on Friday, November 22nd. Cantor Fitzgerald initiated coverage on shares of Elastic in a report on Friday, January 17th. They set a “neutral” rating and a $108.00 price target on the stock. Truist Financial lifted their target price on shares of Elastic from $105.00 to $135.00 and gave the stock a “buy” rating in a report on Friday, November 22nd. Finally, Rosenblatt Securities reiterated a “buy” rating and issued a $120.00 target price on shares of Elastic in a report on Wednesday, November 20th.

Insider Activity

In other Elastic news, CEO Ashutosh Kulkarni sold 7,017 shares of the business’s stock in a transaction dated Wednesday, December 18th. The shares were sold at an average price of $108.12, for a total value of $758,678.04. Following the transaction, the chief executive officer now directly owns 395,326 shares in the company, valued at $42,742,647.12. The trade was a 1.74 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CTO Shay Banon sold 150,000 shares of the business’s stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $110.92, for a total transaction of $16,638,000.00. Following the completion of the transaction, the chief technology officer now owns 2,604,978 shares in the company, valued at approximately $288,944,159.76. This trade represents a 5.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 168,162 shares of company stock worth $18,637,562. Corporate insiders own 15.90% of the company’s stock.

Hedge Funds Weigh In On Elastic

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Public Employees Retirement System of Ohio boosted its position in Elastic by 1.2% in the fourth quarter. Public Employees Retirement System of Ohio now owns 29,907 shares of the company’s stock valued at $2,963,000 after buying an additional 359 shares in the last quarter. Fourth Dimension Wealth LLC bought a new position in shares of Elastic in the fourth quarter worth about $26,000. Sylebra Capital LLC raised its stake in shares of Elastic by 62.6% in the fourth quarter. Sylebra Capital LLC now owns 4,561,462 shares of the company’s stock worth $451,950,000 after acquiring an additional 1,756,842 shares during the last quarter. Castleark Management LLC bought a new position in shares of Elastic in the fourth quarter worth about $362,000. Finally, PharVision Advisers LLC bought a new position in shares of Elastic in the fourth quarter worth about $315,000. 97.03% of the stock is currently owned by institutional investors and hedge funds.

Elastic Trading Down 3.0 %

Shares of NYSE:ESTC opened at $106.30 on Friday. The firm has a fifty day moving average of $105.99 and a two-hundred day moving average of $95.51. The firm has a market capitalization of $11.02 billion, a P/E ratio of 193.27 and a beta of 1.07. Elastic has a 12-month low of $69.00 and a 12-month high of $136.06. The company has a quick ratio of 1.99, a current ratio of 1.99 and a debt-to-equity ratio of 0.70.

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.