Elastic NV (NYSE:ESTC) was the target of a significant growth in short interest during the month of December. As of December 14th, there was short interest totalling 2,060,281 shares, a growth of 160.2% from the November 30th total of 791,717 shares. Based on an average daily volume of 521,510 shares, the short-interest ratio is presently 4.0 days. Currently, 10.6% of the company’s stock are sold short.
A number of equities analysts have issued reports on ESTC shares. Monness Crespi & Hardt started coverage on shares of Elastic in a report on Monday, December 17th. They issued a “buy” rating and a $100.00 target price on the stock. Citigroup started coverage on shares of Elastic in a report on Tuesday, October 30th. They issued a “neutral” rating and a $74.00 target price on the stock. JPMorgan Chase & Co. started coverage on shares of Elastic in a report on Tuesday, October 30th. They issued a “neutral” rating and a $60.00 target price on the stock. Royal Bank of Canada started coverage on shares of Elastic in a research note on Tuesday, October 30th. They issued an “outperform” rating and a $71.00 price target on the stock. Finally, Jefferies Financial Group started coverage on shares of Elastic in a research note on Tuesday, October 30th. They issued a “hold” rating and a $65.00 price target on the stock. Four investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $75.22.
Shares of NYSE ESTC traded up $1.62 during mid-day trading on Thursday, reaching $77.02. 130,614 shares of the company traded hands, compared to its average volume of 302,013. Elastic has a fifty-two week low of $58.55 and a fifty-two week high of $83.84.
Elastic (NYSE:ESTC) last posted its quarterly earnings data on Tuesday, December 4th. The company reported ($0.38) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.47) by $0.09. The company had revenue of $63.60 million for the quarter, compared to analyst estimates of $56.54 million. The company’s revenue was up 71.9% compared to the same quarter last year. Sell-side analysts predict that Elastic will post -1.71 EPS for the current fiscal year.
A hedge fund recently bought a new stake in Elastic stock. NEA Management Company LLC acquired a new stake in shares of Elastic NV (NYSE:ESTC) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 6,353,498 shares of the company’s stock, valued at approximately $454,148,000. Elastic accounts for 18.0% of NEA Management Company LLC’s portfolio, making the stock its 2nd biggest position. NEA Management Company LLC owned about 8.95% of Elastic at the end of the most recent reporting period.
TRADEMARK VIOLATION WARNING: “Short Interest in Elastic NV (ESTC) Grows By 160.2%” was first published by Fairfield Current and is owned by of Fairfield Current. If you are accessing this piece of content on another website, it was copied illegally and republished in violation of U.S. & international trademark & copyright law. The correct version of this piece of content can be accessed at https://www.fairfieldcurrent.com/news/2019/01/24/elastic-nv-estc-sees-large-increase-in-short-interest.html.
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.
Featured Article: Google Finance
Receive News & Ratings for Elastic Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Elastic and related companies with MarketBeat.com’s FREE daily email newsletter.