Elastic NV (ESTC) Receives Average Recommendation of “Hold” from Analysts

Shares of Elastic NV (NYSE:ESTC) have been assigned a consensus rating of “Hold” from the fourteen brokerages that are currently covering the firm, MarketBeat.com reports. Eight equities research analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $90.64.

ESTC has been the topic of several research analyst reports. Monness Crespi & Hardt reissued a “buy” rating and set a $120.00 target price (up previously from $100.00) on shares of Elastic in a research report on Thursday, February 28th. Goldman Sachs Group lowered Elastic from a “buy” rating to a “neutral” rating and raised their target price for the stock from $78.00 to $90.00 in a research report on Thursday, February 7th. Barclays reissued a “buy” rating and set a $107.00 target price on shares of Elastic in a research report on Friday, March 1st. Royal Bank of Canada lowered Elastic from an “outperform” rating to a “sector perform” rating in a research report on Thursday, February 7th. Finally, Oppenheimer initiated coverage on Elastic in a research report on Wednesday, March 6th. They set an “outperform” rating and a $110.00 target price on the stock.

In other Elastic news, SVP W.H. Baird Garrett sold 6,000 shares of Elastic stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $82.47, for a total transaction of $494,820.00. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Kevin Kluge sold 70,000 shares of Elastic stock in a transaction that occurred on Monday, April 8th. The stock was sold at an average price of $79.79, for a total value of $5,585,300.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,992,322 shares of company stock worth $165,417,880. 51.80% of the stock is currently owned by corporate insiders.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Tyers Asset Management LLC acquired a new position in Elastic during the first quarter worth approximately $25,000. Coastal Investment Advisors Inc. acquired a new position in Elastic during the first quarter worth approximately $26,000. Pearl River Capital LLC acquired a new position in Elastic during the first quarter worth approximately $32,000. Focused Wealth Management Inc acquired a new position in Elastic during the fourth quarter worth approximately $32,000. Finally, Neuburgh Advisers LLC purchased a new position in shares of Elastic in the 1st quarter valued at approximately $38,000. 41.19% of the stock is currently owned by institutional investors.

Shares of NYSE ESTC traded down $0.50 during midday trading on Friday, hitting $83.01. 528,902 shares of the company’s stock were exchanged, compared to its average volume of 604,315. Elastic has a twelve month low of $58.55 and a twelve month high of $100.43.

Elastic (NYSE:ESTC) last issued its earnings results on Wednesday, February 27th. The company reported ($0.29) earnings per share for the quarter, topping the consensus estimate of ($0.37) by $0.08. The business had revenue of $70.80 million for the quarter, compared to analyst estimates of $65.77 million. Elastic’s revenue was up 69.8% on a year-over-year basis. Equities analysts forecast that Elastic will post -1.78 EPS for the current year.

About Elastic

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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Analyst Recommendations for Elastic (NYSE:ESTC)

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