Robert W. Baird slashes price target on Elastic N.V. [ESTC] – find out why.

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Elastic N.V. [NYSE: ESTC] gained 12.59% or 15.1 points to close at $135.00 with a heavy trading volume of 2493437 shares. The company report on December 3, 2020 that Elastic Reports Strong Second Quarter Fiscal 2021 Financial Results.

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Q2 Revenue of $144.9 million, Up 43% year-over-yearQ2 SaaS Revenue of $37.4 million, Up 81% year-over-year.

Elastic (NYSE: ESTC) (“Elastic”), the company behind Elasticsearch and the Elastic Stack, announced strong results for its second quarter of fiscal 2021 (ended October 31, 2020).

It opened the trading session at $130.55, the shares rose to $143.00 and dropped to $130.55, the range by which the price of stock traded the whole day. The daily chart for ESTC points out that the company has recorded 55.35% gains over the past six months. However, it is still -246.07% lower than its most recent low trading price.

If we look at the average trading volume of 923.32K shares, ESTC reached to a volume of 2493437 in the most recent trading day, which is why market watchdogs consider the stock to be active.

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 $133.21 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.

Robert W. Baird have made an estimate for Elastic N.V. shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on September 25, 2020. While these analysts kept the previous recommendation, Monness Crespi & Hardt raised their target price from $100 to $142. The new note on the price target was released on August 27, 2020, representing the official price target for Elastic N.V. stock. Previously, the target price had yet another raise from $108 to $120, while Barclays kept a Overweight rating on ESTC stock. On August 21, 2020, analysts increased their price target for ESTC shares from 95 to 111.

The Average True Range (ATR) for Elastic N.V. is set at 6.21, with the Price to Sales ratio for ESTC stock in the period of the last 12 months amounting to 25.05. The Price to Book ratio for the last quarter was 26.26, with the Price to Cash per share for the same quarter was set at 4.07.

Trading performance analysis for ESTC stock

Elastic N.V. [ESTC] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 13.27. With this latest performance, ESTC shares gained by 35.03% in over the last four-week period, additionally plugging by 55.35% over the last 6 months – not to mention a rise of 72.63% 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 74.24, with the RSI for the last a single of trading hit 80.94, and the three-weeks RSI is set at 69.84 for Elastic N.V. [ESTC]. The present Moving Average for the last 50 days of trading for this stock 112.13, while it was recorded at 123.78 for the last single week of trading, and 88.02 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 +63.92. Elastic N.V.’s Net Margin is presently recorded at -39.09.

Return on Total Capital for ESTC is now -43.01, given the latest momentum, and Return on Invested Capital for the company is -47.46. Return on Equity for this stock declined to -49.41, with Return on Assets sitting at -25.93. When it comes to the capital structure of this company, Elastic N.V. [ESTC] has a Total Debt to Total Equity ratio set at 8.57. Additionally, ESTC Total Debt to Total Capital is recorded at 7.90, with Total Debt to Total Assets ending up at 4.41. Long-Term Debt to Equity for the company is recorded at 6.73, with the Long-Term Debt to Total Capital now at 6.20.

Reflecting on the efficiency of the workforce at the company, Elastic N.V. [ESTC] managed to generate an average of -$124,478 per employee. Receivables Turnover for the company is 4.07 with a Total Asset Turnover recorded at a value of 0.66.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 -0.28/share EPS, while the average EPS was predicted by analysts to be reported at -0.35/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 20.00%. 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 $8,405 million, or 77.40% of ESTC stock, in the hands of institutional investors. The top three institutional holders of ESTC stocks are: FMR LLC with ownership of 8,618,130, which is approximately 1.088% of the company’s market cap and around 10.40% of the total institutional ownership; VANGUARD GROUP INC, holding 5,042,579 shares of the stock with an approximate value of $680.75 million in ESTC stocks shares; and SYLEBRA CAPITAL LTD, currently with $663.31 million in ESTC stock with ownership of nearly -15.625% of the company’s market capitalization.

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Positions in Elastic N.V. stocks held by institutional investors increased at the end of December and at the time of the December reporting period, where 177 institutional holders increased their position in Elastic N.V. [NYSE:ESTC] by around 7,627,791 shares. Additionally, 115 investors decreased positions by around 7,284,989 shares, while 29 investors held positions by with 47,346,274 shares. The mentioned changes placed institutional holdings at 62,259,054 shares, according to the latest SEC report filing. ESTC stock had 63 new institutional investments in for a total of 1,565,120 shares, while 36 institutional investors sold positions of 3,689,469 shares during the same period.

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