Elastic (NYSE:ESTC)‘s stock had its “buy” rating reissued by equities researchers at Barclays in a research note issued on Friday, March 1st. They presently have a $107.00 price objective on the stock. Barclays‘s target price would suggest a potential upside of 26.19% from the stock’s current price.
Other analysts have also recently issued research reports about the stock. Monness Crespi & Hardt restated a “buy” rating and issued a $120.00 target price (up previously from $100.00) on shares of Elastic in a research note on Thursday, February 28th. Royal Bank of Canada downgraded shares of Elastic from an “outperform” rating to a “sector perform” rating in a report on Thursday, February 7th. Citigroup raised their target price on shares of Elastic from $74.00 to $82.00 and gave the company a “neutral” rating in a report on Thursday, December 6th. 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 report on Thursday, February 7th. Finally, Jefferies Financial Group lifted their price target on shares of Elastic to $90.00 and gave the stock a “hold” rating in a report on Thursday, February 28th. They noted that the move was a valuation call. Seven research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $89.10.
Shares of NYSE:ESTC traded up $0.41 during trading hours on Friday, reaching $84.79. The stock had a trading volume of 2,340 shares, compared to its average volume of 414,701. Elastic has a 1 year low of $58.55 and a 1 year high of $100.43.
Elastic (NYSE:ESTC) last issued its earnings results on Wednesday, February 27th. The company reported ($0.16) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.37) by $0.21. The company had revenue of $70.80 million during the quarter, compared to analyst estimates of $65.77 million. The business’s revenue for the quarter was up 69.8% on a year-over-year basis. On average, research analysts forecast that Elastic will post -1.65 earnings per share for the current year.
In other Elastic news, Director Steven Schuurman sold 1,300,000 shares of the business’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $82.45, for a total transaction of $107,185,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.
A number of hedge funds and other institutional investors have recently modified their holdings of ESTC. Focused Wealth Management Inc acquired a new stake in Elastic during the 4th quarter worth about $32,000. Barclays PLC acquired a new stake in Elastic during the 4th quarter worth about $40,000. Victory Capital Management Inc. acquired a new stake in Elastic during the 4th quarter worth about $42,000. PNC Financial Services Group Inc. acquired a new stake in Elastic during the 4th quarter worth about $100,000. Finally, Partner Investment Management L.P. acquired a new stake in Elastic during the 4th quarter worth about $137,000. 12.79% of the stock is owned by institutional investors.
Elastic Company Profile
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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