Elastic (NYSE:ESTC) Trading 5.9% Higher

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Shares of Elastic NV (NYSE:ESTC) traded up 5.9% on Thursday . The company traded as high as $89.16 and last traded at $89.16, 1,974,932 shares changed hands during mid-day trading. An increase of 136% from the average session volume of 835,398 shares. The stock had previously closed at $84.17.

A number of research analysts recently weighed in on the stock. Zacks Investment Research lowered shares of ExlService from a “hold” rating to a “sell” rating in a report on Wednesday. KeyCorp cut their target price on shares of PolyOne from $36.00 to $34.00 and set an “overweight” rating for the company in a report on Thursday, April 18th. Monness Crespi & Hardt reissued a “buy” rating and issued a $185.00 target price (up from $150.00) on shares of Mongodb in a report on Thursday, June 6th. Bank of America set a $20.00 target price on shares of Fiat Chrysler Automobiles and gave the company a “hold” rating in a report on Thursday, June 6th. Finally, FBN Securities assumed coverage on shares of Elastic in a report on Tuesday, April 2nd. They issued an “outperform” rating for the company. One analyst has rated the stock with a sell rating, seven have issued a hold rating and six have issued a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $93.92.

The stock has a 50 day simple moving average of $78.84. The stock has a market capitalization of $5.91 billion and a P/E ratio of -49.53.

Elastic (NYSE:ESTC) last posted its quarterly earnings data on Wednesday, June 5th. The company reported ($0.28) EPS for the quarter, topping the consensus estimate of ($0.45) by $0.17. The firm had revenue of $80.60 million for the quarter, compared to analysts’ expectations of $75.79 million. The firm’s revenue for the quarter was up 62.5% compared to the same quarter last year. Equities analysts anticipate that Elastic NV will post -2.17 EPS for the current fiscal year.

In other Elastic news, Director Michelangelo Volpi sold 28,298 shares of Elastic stock in a transaction on Thursday, June 27th. The shares were sold at an average price of $73.94, for a total transaction of $2,092,354.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP W.H. Baird Garrett sold 20,000 shares of Elastic stock in a transaction on Monday, April 22nd. The stock was sold at an average price of $83.29, for a total transaction of $1,665,800.00. The disclosure for this sale can be found here. Insiders have sold 1,523,440 shares of company stock valued at $121,369,434 over the last ninety days. 51.80% of the stock is owned by insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Pearl River Capital LLC bought a new stake in shares of Elastic during the first quarter worth $32,000. Barclays PLC bought a new stake in shares of Elastic during the fourth quarter worth $40,000. Botty Investors LLC bought a new stake in shares of Elastic during the first quarter worth $66,000. PNC Financial Services Group Inc. bought a new stake in shares of Elastic during the fourth quarter worth $100,000. Finally, Partner Investment Management L.P. bought a new stake in shares of Elastic during the fourth quarter worth $137,000. 41.66% of the stock is owned by institutional investors.

Elastic Company Profile (NYSE:ESTC)

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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