Elastic (NYSE:ESTC) Coverage Initiated by Analysts at Cantor Fitzgerald

Cantor Fitzgerald initiated coverage on shares of Elastic (NYSE:ESTCFree Report) in a research report report published on Friday, Marketbeat reports. The firm issued a neutral rating and a $108.00 price target on the stock.

A number of other equities research analysts have also recently weighed in on ESTC. Piper Sandler upped their price objective on Elastic from $100.00 to $130.00 and gave the stock an “overweight” rating in a research note on Friday, November 22nd. Stifel Nicolaus increased their price target on shares of Elastic from $98.00 to $132.00 and gave the company a “buy” rating in a research report on Friday, November 22nd. William Blair raised shares of Elastic from a “market perform” rating to an “outperform” rating in a research report on Monday, October 14th. Wells Fargo & Company raised their target price on shares of Elastic from $100.00 to $135.00 and gave the company an “overweight” rating in a research note on Friday, November 22nd. Finally, Rosenblatt Securities reaffirmed a “buy” rating and issued a $120.00 price target on shares of Elastic in a report on Wednesday, November 20th. Seven analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $125.70.

Check Out Our Latest Report on ESTC

Elastic Price Performance

Shares of ESTC opened at $100.49 on Friday. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.99 and a current ratio of 1.99. The company has a 50 day moving average price of $101.65 and a 200-day moving average price of $95.88. Elastic has a fifty-two week low of $69.00 and a fifty-two week high of $136.06. The stock has a market capitalization of $10.41 billion, a PE ratio of 182.70 and a beta of 1.06.

Insider Buying and Selling

In related news, CEO Ashutosh Kulkarni sold 7,017 shares of the firm’s stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $108.12, for a total transaction of $758,678.04. Following the sale, the chief executive officer now owns 395,326 shares in the company, valued at approximately $42,742,647.12. This trade represents a 1.74 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CTO Shay Banon sold 150,000 shares of the company’s stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $110.92, for a total transaction of $16,638,000.00. Following the completion of the transaction, the chief technology officer now owns 2,604,978 shares of the company’s stock, valued at approximately $288,944,159.76. This trade represents a 5.44 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 168,162 shares of company stock valued at $18,637,562 over the last ninety days. Company insiders own 15.90% of the company’s stock.

Institutional Trading of Elastic

Institutional investors and hedge funds have recently made changes to their positions in the business. Blueshift Asset Management LLC acquired a new position in shares of Elastic during the 3rd quarter worth about $585,000. Charles Schwab Investment Management Inc. raised its holdings in shares of Elastic by 2.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 545,870 shares of the company’s stock valued at $41,901,000 after acquiring an additional 14,590 shares during the last quarter. Bangor Savings Bank purchased a new position in shares of Elastic in the fourth quarter valued at approximately $1,657,000. Fifth Third Wealth Advisors LLC acquired a new stake in shares of Elastic in the third quarter worth approximately $1,262,000. Finally, Vestcor Inc purchased a new stake in shares of Elastic during the third quarter worth approximately $1,919,000. 97.03% of the stock is currently owned by hedge funds and other institutional investors.

About Elastic

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Elastic N.V., a data analytics company, delivers solutions designed to run in public or private clouds in multi-cloud environments. It primarily offers 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 on that data.

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Analyst Recommendations for Elastic (NYSE:ESTC)

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