In yesterday’s Wall Street session, Elastic N.V. (NYSE:ESTC) shares traded at $74.27, up 20.02% from the previous session.
As of this writing, 24 analysts cover Elastic N.V. (NYSE:ESTC). The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $112.00 and a low of $60.00, we find $81.50. Given the previous closing price of $61.88, this indicates a potential upside of 31.71 percent. ESTC stock price is now 17.16% away from the 50-day moving average and 23.81% away from the 200-day moving average. The market capitalization of the company currently stands at $6.03B.
There are 10 analysts who have given it a hold rating, whereas 12 have given it a buy rating. Brokers who have rated the stock have averaged $80.80 as their price target over the next twelve months.
With the price target of $65, TD Cowen recently initiated with Market Perform rating for Elastic N.V. (NYSE: ESTC).
In other news, Chadwick Jonathan, Director sold 25,000 shares of the company’s stock on Aug 01. The stock was sold for $1,657,688 at an average price of $66.31. Upon completion of the transaction, the Director now directly owns 7,729 shares in the company, valued at $0.57 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Jul 03, Director Chadwick Jonathan sold 25,000 shares of the business’s stock. A total of $1,614,210 was realized by selling the stock at an average price of $64.57. This leaves the insider owning 7,729 shares of the company worth $0.57 million. Insiders disposed of 3,811,743 shares of company stock worth roughly $283.1 million over the past 1 year. A total of 9.50% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in ESTC stock. A new stake in Elastic N.V. shares was purchased by STANDARD INVESTMENTS LLC during the first quarter worth $91,748,000. ATREIDES MANAGEMENT, LP invested $91,333,000 in shares of ESTC during the first quarter. In the first quarter, KETTLE HILL CAPITAL MANAGEMENT, LLC acquired a new stake in Elastic N.V. valued at approximately $27,691,000. CLOUDALPHA CAPITAL MANAGEMENT LIMITED/HONG KONG acquired a new stake in ESTC for approximately $21,687,000. IVY LANE CAPITAL MANAGEMENT, LLC purchased a new stake in ESTC valued at around $9,061,000 in the second quarter. In total, there are 433 active investors with 78.70% ownership of the company’s stock.
Friday morning saw Elastic N.V. (NYSE: ESTC) opened at $72.72. During the past 12 months, Elastic N.V. has had a low of $46.18 and a high of $91.30. As of last week, the company has a debt-to-equity ratio of 1.42, a current ratio of 1.80, and a quick ratio of 1.80. The fifty day moving average price for ESTC is $63.61 and a two-hundred day moving average price translates $60.03 for the stock.
The latest earnings results from Elastic N.V. (NYSE: ESTC) was released for Jul, 2023. According to the Software – Application Company, earnings per share came in at $0.25, beating analysts’ expectations of $0.11 by 0.14. This compares to -$0.70 EPS in the same period last year. The net profit margin was -23.90% and return on equity was -65.00% for ESTC. The company reported revenue of $279.94 million for the quarter, compared to $239.35 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 16.96 percent. For the current quarter, analysts expect ESTC to generate $304.09M in revenue.
Elastic N.V.(ESTC) Company Profile
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. The company’s Elastic Stack product portfolio comprises Elasticsearch, a distributed, real-time search and analytics engine, and data store for various types of data, including textual, numerical, geospatial, structured, and unstructured; Kibana, a user interface, management, and configuration interface for the Elastic Stack; Elastic Agent that offers integrated host protection and central management services; Beats, a single-purpose data shippers 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 from a multitude of sources simultaneously. It also provides software solutions on the Elastic Stack that address cases, including search applications, workplace search, logs, metrics, application performance monitoring, synthetic monitoring, security information and event management (SIEM), endpoint security, extended detection and response, and cloud security. The company was incorporated in 2012 and is based in Amsterdam, the Netherlands.
