Elastic’s (ESTC) Buy Rating Reiterated at Rosenblatt Securities

Rosenblatt Securities reaffirmed their buy rating on shares of Elastic (NYSE:ESTC) in a research report released on Tuesday,Benzinga reports. Rosenblatt Securities currently has a $130.00 target price on the stock.

Other equities analysts also recently issued reports about the company. Citigroup raised their price objective on Elastic from $136.00 to $150.00 and gave the company a “buy” rating in a research note on Monday, November 25th. Jefferies Financial Group raised their target price on shares of Elastic from $110.00 to $135.00 and gave the stock a “buy” rating in a research report on Friday, November 22nd. Cantor Fitzgerald initiated coverage on Elastic in a report on Friday, January 17th. They issued a “neutral” rating and a $108.00 price target for the company. Baird R W upgraded Elastic from a “hold” rating to a “strong-buy” rating in a report on Friday, November 22nd. Finally, Scotiabank dropped their price target on Elastic from $135.00 to $127.00 and set a “sector outperform” rating for the company in a research note on Tuesday, January 21st. Seven equities research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $125.78.

Elastic Stock Down 2.4 %

Shares of NYSE ESTC opened at $101.05 on Tuesday. The business’s 50 day moving average is $105.85 and its two-hundred day moving average is $95.51. Elastic has a 52-week low of $69.00 and a 52-week 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. The firm has a market cap of $10.47 billion, a price-to-earnings ratio of 183.73 and a beta of 1.07.

Elastic (NYSE:ESTC) last released its quarterly earnings data on Thursday, February 27th. The company reported ($0.01) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.47 by ($0.48). Elastic had a negative return on equity of 13.20% and a net margin of 4.39%. Research analysts predict that Elastic will post -0.77 EPS for the current year.

Insider Transactions at Elastic

In related news, CEO Ashutosh Kulkarni sold 7,017 shares of the company’s stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $108.12, for a total value of $758,678.04. Following the completion of the sale, the chief executive officer now directly owns 395,326 shares in the company, valued at approximately $42,742,647.12. This represents a 1.74 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 15.90% of the company’s stock.

Institutional Trading of Elastic

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Sylebra Capital LLC increased its holdings in shares of Elastic by 62.6% during the 4th quarter. Sylebra Capital LLC now owns 4,561,462 shares of the company’s stock valued at $451,950,000 after acquiring an additional 1,756,842 shares during the last quarter. FMR LLC grew its holdings in Elastic by 25.6% during the third quarter. FMR LLC now owns 5,475,297 shares of the company’s stock valued at $420,284,000 after purchasing an additional 1,115,750 shares during the last quarter. Norges Bank bought a new position in shares of Elastic in the fourth quarter valued at approximately $102,485,000. Arrowstreet Capital Limited Partnership lifted its stake in shares of Elastic by 5,972.4% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 744,358 shares of the company’s stock worth $73,751,000 after buying an additional 732,100 shares during the last quarter. Finally, Atreides Management LP grew its stake in Elastic by 57.2% in the 3rd quarter. Atreides Management LP now owns 1,687,791 shares of the company’s stock valued at $129,555,000 after buying an additional 614,309 shares during the last quarter. Institutional investors and hedge funds 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.