Stifel Nicolaus Trims Elastic (NYSE:ESTC) Target Price to $84.00

Elastic (NYSE:ESTC) had its price objective reduced by Stifel Nicolaus from $100.00 to $84.00 in a research note released on Thursday, BenzingaRatingsTable reports. Stifel Nicolaus currently has a hold rating on the stock.

ESTC has been the subject of a number of other research reports. Monness Crespi & Hardt boosted their target price on shares of Elastic from $125.00 to $130.00 and gave the company a buy rating in a research report on Thursday, August 29th. Piper Jaffray Companies initiated coverage on shares of Elastic in a research report on Monday, October 28th. They set an overweight rating and a $93.00 price target on the stock. Canaccord Genuity upgraded shares of Elastic from a hold rating to a buy rating and set a $90.00 price objective for the company in a research note on Monday, November 18th. Citigroup boosted their price objective on shares of Elastic from $98.00 to $100.00 and gave the company a neutral rating in a report on Thursday, August 29th. Finally, ValuEngine downgraded shares of Elastic from a buy rating to a hold rating in a report on Thursday, November 28th. Seven analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Elastic has an average rating of Buy and a consensus price target of $99.86.

ESTC opened at $63.84 on Thursday. The business has a fifty day simple moving average of $74.67 and a 200 day simple moving average of $82.86. Elastic has a 1 year low of $60.78 and a 1 year high of $104.10. The company has a debt-to-equity ratio of 0.11, a quick ratio of 2.06 and a current ratio of 2.06.

Elastic (NYSE:ESTC) last issued its quarterly earnings data on Wednesday, December 4th. The company reported ($0.22) EPS for the quarter, beating analysts’ consensus estimates of ($0.50) by $0.28. The firm had revenue of $101.10 million for the quarter, compared to analyst estimates of $96.51 million. Elastic had a negative return on equity of 47.22% and a negative net margin of 43.22%. The company’s revenue for the quarter was up 59.0% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.38) EPS. As a group, sell-side analysts anticipate that Elastic will post -2.04 EPS for the current year.

In other Elastic news, CFO Janesh Moorjani sold 140,000 shares of the business’s stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $92.74, for a total transaction of $12,983,600.00. Also, CRO Aaron Katz sold 25,000 shares of the company’s stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $63.84, for a total value of $1,596,000.00. Over the last three months, insiders have sold 528,189 shares of company stock worth $46,473,269. 44.20% of the stock is currently owned by insiders.

Several hedge funds have recently modified their holdings of the business. Amundi Pioneer Asset Management Inc. acquired a new position in shares of Elastic during the 1st quarter worth $13,435,000. Strs Ohio grew its position in Elastic by 700.0% in the second quarter. Strs Ohio now owns 84,995 shares of the company’s stock valued at $6,345,000 after acquiring an additional 74,371 shares during the last quarter. SG Americas Securities LLC bought a new position in Elastic in the second quarter valued at about $581,000. BP PLC bought a new position in Elastic in the second quarter valued at about $1,002,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in Elastic during the second quarter worth about $82,000. 64.80% of the stock is currently owned by hedge funds and other 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.

Featured Article: Day Trading

Analyst Recommendations for Elastic (NYSE:ESTC)

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.



Comments


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on reddit