Elastic (NYSE: ESTC) upgraded to “Hold” at Zacks Investment Research
Elastic (NYSE: ESTC) was upgraded by Zacks Investment Research from a âsellâ rating to a âconservationâ rating in a report released Monday, Zacks.com reports.
According to Zacks, âElastic NV is a research company. It primarily provides Elastic Stack, a collection of software products that ingest and store data from a variety of sources and formats, as well as research, analysis, and visualizations. Elastic NV is based in Mountain Vue, California. “
Other equity research analysts have also published reports on the stock. Monness Crespi & Hardt raised its price target on Elastic shares from $ 212.00 to $ 230.00 and gave the company a “buy” rating in a report released Thursday, August 26. Oppenheimer raised its price target on Elastic shares from $ 170.00 to $ 185.00 and gave the company an “outperformance” rating in a report released Thursday, August 26. Barclays raised its price target on Elastic shares from $ 185.00 to $ 200.00 and rated the company “overweight” in a report released on Friday, September 17. They noted that the move was an appraisal call. Jefferies Financial Group raised its price target on Elastic shares from $ 150.00 to $ 175.00 and gave the company a âbuyâ rating in a report released on Tuesday, July 13. Finally, Stifel Nicolaus raised his price target for Elastic shares from $ 180.00 to $ 200.00 and gave the company a âbuyâ rating in a report released on Thursday, August 26. Two investment analysts assigned a conservation rating to the stock and sixteen assigned a buy rating to the company’s stock. Based on MarketBeat data, the stock has an average rating of âBuyâ and an average target price of $ 182.37.
ESTC shares traded up $ 4.12 during trading hours on Monday, reaching $ 173.02. 1,905,723 shares of the company were traded, for an average volume of 915,390. The stock’s 50-day moving average is $ 158.71 and its 200-day moving average is $ 141.40. The company has a market cap of $ 15.88 billion, a price-to-earnings ratio of -106.15 and a beta of 1.10. The company has a current ratio of 2.71, a quick ratio of 2.71 and a debt ratio of 1.24. Elastic has a fifty-two week low of $ 97.48 and a fifty-two week high of $ 177.74.
Elastic (NYSE: ESTC) last released its quarterly results on Tuesday, August 24. The company reported earnings per share (EPS) of $ 0.04 for the quarter, beating analyst consensus estimates ($ 0.10) by $ 0.14. The company posted revenue of $ 193.10 million for the quarter, compared to a consensus estimate of $ 173.21 million. Elastic recorded a negative return on equity of 26.26% and a negative net margin of 21.54%. The company’s quarterly revenue increased 49.8% year-over-year. During the same period of the previous year, the company posted earnings per share of $ 0.06. Equity analysts predict that Elastic will post EPS of -1.85 for the current year.
In other Elastic news, CEO Shay Banon sold 111,277 shares in a trade dated Monday, October 25. The shares were sold for an average price of $ 173.01, for a total value of $ 19,252,033.77. The transaction was disclosed in a file with the Securities & Exchange Commission, which is available at this link. Additionally, insider Paul Andrew Appleby sold 7,448 shares in a trade that took place on Thursday, September 9. The shares were sold at an average price of $ 162.43, for a total transaction of $ 1,209,778.64. After the sale closes, the insider now directly owns 54,065 shares of the company, valued at approximately $ 8,781,777.95. Disclosure of this sale can be found here. In the past 90 days, insiders have sold 752,490 shares of the company valued at $ 125,566,320. Insiders own 20.40% of the shares of the company.
Several large investors have recently bought and sold stocks. Principal Financial Group Inc. increased its position in Elastic shares by 1.0% in the second quarter. Principal Financial Group Inc. now owns 7,437 shares of the company valued at $ 1,084,000 after purchasing 71 additional shares during the period. Price T Rowe Associates Inc. MD strengthened its position in Elastic by 0.4% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 26,533 shares of the company valued at $ 3,867,000 after purchasing 113 additional shares during the period. HighPoint Advisor Group LLC increased its stake in Elastic shares by 1.9% in the 2nd quarter. HighPoint Advisor Group LLC now owns 6,152 shares of the company valued at $ 897,000 after purchasing an additional 115 shares in the last quarter. Berman Capital Advisors LLC increased its stake in Elastic shares by 84.5% in the 3rd quarter. Berman Capital Advisors LLC now owns 321 shares of the company valued at $ 47,000 after purchasing 147 additional shares in the last quarter. Finally, Belpointe Asset Management LLC increased its participation in Elastic shares by 13.8% in the second quarter. Belpointe Asset Management LLC now owns 1,608 shares of the company valued at $ 234,000 after purchasing 195 additional shares in the last quarter. 75.60% of the shares are held by hedge funds and other institutional investors.
Elastic NV is committed to providing open source search engine and analytics services. It offers Elastic Stack, a set of software products that ingest and store data from a variety of sources and formats, as well as perform research, analysis, and visualization. The company’s Elastic Stack product includes Elasticsearch, a real-time distributed search and analytics engine, and a data store for various types of data, including text, numeric, geospatial, structured and unstructured; Kibana, a user interface, a management and configuration interface for the Elastic Suite; Beats, a one-time data sender for sending data from edge machines to Elasticsearch or Logstash; and Logstash, a data processing pipeline for ingesting data into Elasticsearch or other storage systems.
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