Elastic (NYSE:ESTC)‘s stock had its “buy” rating reiterated by equities research analysts at Monness Crespi & Hardt in a report released on Thursday, June 6th, FirstToMarketsRatingsTable reports. They currently have a $125.00 price target on the stock, up from their previous price target of $120.00. Monness Crespi & Hardt’s target price indicates a potential upside of 67.43% from the company’s previous close.
Several other equities research analysts also recently weighed in on the stock. Goldman Sachs Group downgraded shares of Elastic from a “buy” rating to a “neutral” rating and raised their target price for the company from $78.00 to $90.00 in a research note on Thursday, February 7th. Barclays restated a “buy” rating and issued a $107.00 target price on shares of Elastic in a research note on Friday, March 1st. Royal Bank of Canada downgraded shares of Elastic from an “outperform” rating to a “sector perform” rating in a research note on Thursday, February 7th. Oppenheimer started coverage on shares of Elastic in a report on Wednesday, March 6th. They issued an “outperform” rating and a $110.00 price target for the company. Finally, Citigroup raised their price target on shares of Elastic from $82.00 to $97.00 and gave the stock a “neutral” rating in a report on Friday, March 1st. Eight research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Elastic has a consensus rating of “Hold” and an average target price of $93.92.
Shares of NYSE ESTC traded up $0.46 during midday trading on Thursday, reaching $74.66. 3,045,796 shares of the company’s stock traded hands, compared to its average volume of 811,606. The stock’s 50 day moving average is $80.64. Elastic has a one year low of $58.55 and a one year high of $100.43. The stock has a market cap of $5.41 billion and a P/E ratio of -41.48.
In other news, CRO Aaron Katz sold 15,000 shares of Elastic stock in a transaction dated Thursday, April 4th. The shares were sold at an average price of $82.73, for a total value of $1,240,950.00. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Michelangelo Volpi sold 28,298 shares of Elastic stock in a transaction dated Thursday, June 27th. The shares were sold at an average price of $73.94, for a total transaction of $2,092,354.12. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,554,440 shares of company stock valued at $124,059,184. 51.80% of the stock is currently owned by corporate insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Kayne Anderson Rudnick Investment Management LLC acquired a new position in Elastic during the fourth quarter worth about $5,426,000. Northern Trust Corp acquired a new position in Elastic during the fourth quarter worth about $2,235,000. Glaxis Capital Management LLC acquired a new position in Elastic during the first quarter worth about $584,000. Victory Capital Management Inc. acquired a new position in Elastic during the fourth quarter worth about $42,000. Finally, Pier Capital LLC boosted its position in Elastic by 122.2% during the first quarter. Pier Capital LLC now owns 87,111 shares of the company’s stock worth $6,958,000 after acquiring an additional 47,910 shares during the last quarter. Institutional investors and hedge funds own 41.66% of the company’s stock.
Elastic N.V. develops and delivers technology that enables users to search structured and unstructured data for a range of consumer and enterprise applications. It primarily provides 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.
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