Saturday, November 28, 2020

Monness Crespi & Hardt slashes price target on Elastic N.V. [ESTC] – find out why.

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Elastic N.V. [NYSE: ESTC] loss -3.52% on the last trading session, reaching $79.10 price per share at the time. Elastic N.V. represents 80.74 million in outstanding shares, while the company has a total market value of $6.48 billion with the latest information. ESTC stock price has been found in the range of $78.00 to $81.44.

If compared to the average trading volume of 1.59M shares, ESTC reached a trading volume of 1283617 in the most recent trading day, which is why market watchdogs consider the stock to be active.


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Here is what top equities market gurus are saying about Elastic N.V. [ESTC]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for ESTC shares is $92.92 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on ESTC stock is a recommendation set at 1.90. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Monness Crespi & Hardt have made an estimate for Elastic N.V. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on June 04, 2020. While these analysts kept the previous recommendation, DA Davidson raised their target price to Buy. The new note on the price target was released on April 16, 2020, representing the official price target for Elastic N.V. stock. Previously, the target price had yet another drop from $130 to $80, while Monness Crespi & Hardt kept a Buy rating on ESTC stock.

The Average True Range (ATR) for Elastic N.V. is set at 4.06, with the Price to Sales ratio for ESTC stock in the period of the last 12 months amounting to 16.84. The Price to Book ratio for the last quarter was 15.27, with the Price to Cash per share for the same quarter was set at 3.59.

Trading performance analysis for ESTC stock

Elastic N.V. [ESTC] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -7.86. With this latest performance, ESTC shares gained by 12.01% in over the last four-week period, additionally plugging by 26.62% over the last 6 months – not to mention a rise of 0.88% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for ESTC stock in for the last two-week period is set at 52.61, with the RSI for the last a single of trading hit 43.79, and the three-weeks RSI is set at 55.40 for Elastic N.V. [ESTC]. The present Moving Average for the last 50 days of trading for this stock 68.61, while it was recorded at 82.43 for the last single week of trading, and 71.22 for the last 200 days.

Elastic N.V. [ESTC]: A deeper dive into fundamental analysis

Operating Margin for any stock indicates how profitable investing would be, and Elastic N.V. [ESTC] shares currently have an operating margin of -35.81 and a Gross Margin at +70.54. Elastic N.V.’s Net Margin is presently recorded at -39.09.

Return on Equity for this stock declined to -49.41, with Return on Assets sitting at -25.93.

Elastic N.V.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.60 and a Current Ratio set at 1.60.

Elastic N.V. [ESTC]: An earnings per share (EPS) analysis

With the latest financial reports released by the company, Elastic N.V. posted -0.32/share EPS, while the average EPS was predicted by analysts to be reported at -0.41/share.When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 22.00%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for ESTC. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Elastic N.V. go to 2.80%.

An analysis of insider ownership at Elastic N.V. [ESTC]

There are presently around $4,758 million, or 75.90% of ESTC stock, in the hands of institutional investors. The top three institutional holders of ESTC stocks are: FMR LLC with ownership of 8,171,620, which is approximately 52.986% of the company’s market cap and around 11.50% of the total institutional ownership; SYLEBRA CAPITAL LTD, holding 5,783,588 shares of the stock with an approximate value of $474.2 million in ESTC stocks shares; and FIL LTD, currently with $358.24 million in ESTC stock with ownership of nearly -26.84% of the company’s market capitalization.

Positions in Elastic N.V. stocks held by institutional investors increased at the end of June and at the time of the June reporting period, where 154 institutional holders increased their position in Elastic N.V. [NYSE:ESTC] by around 15,801,522 shares. Additionally, 89 investors decreased positions by around 10,702,253 shares, while 21 investors held positions by with 31,528,422 shares. The mentioned changes placed institutional holdings at 58,032,197 shares, according to the latest SEC report filing. ESTC stock had 55 new institutional investments in for a total of 3,569,366 shares, while 52 institutional investors sold positions of 4,500,683 shares during the same period.

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