Elastic N.V (NYSE:ESTC) traded with a subtraction of -$1.48 to $79.70 on Thursday, a downside of -1.82 percent. An average of 1,101,569 shares of common stock have been traded in the last five days. There was a gain of $1.88 in the past week, and it reached a new high 10 times over the past 12 months. The last 20 days have seen an average of 1,370,262 shares traded, while the 50-day average volume stands at 1,125,339.
ESTC stock has increased by 33.52% in the last month. The company shares reached their 1-month lowest point of $57.38 on 08/29/23. With the stock rallying to its 52-week high on 09/26/23, shares of the company touched a low of $46.18 and a high of $82.84 in 52 weeks. It has reached a new high 21 times so far this year and achieved 54.76% or $28.16 in price. In spite of this, the price is down -3.79% from the 52-week high.
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Insider Transactions
ESTC stock investors should be aware that Elastic N.V (ESTC) stock had its last reported insider trading activity 16 days ago on Sep 12. In this transaction, the insider spent $103,290. Chief Executive Officer, Kulkarni Ashutosh, disposed of 14,376 shares at a price of $77.83 on Sep 11. The insider now owns more than $1,118,942 worth of shares. Prior to that, CFO & COO Moorjani Janesh went on to Sale 5,473 shares at $77.83 each on Sep 11. An amount of $425,985 was transacted.
Valuation Metrics
Elastic N.V (ESTC) has a trailing price-to-earnings (P/E) ratio of N/A for the broader industry. The stock’s beta is 0.87. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 7.05, the price-to-book (PB) ratio at 19.04, and the price-to-cash flow ratio at 85.60.
Financial Health
The quick ratio of Elastic N.V for the three months ended July 30 was 1.76, and the current ratio was 1.76, indicating that the company is able to meet its debt obligations. Further, the company has a long term debt to equity ratio of 1.41 and a total debt to equity ratio of 1.44 for the quarter ending July 30. Elastic N.V’s EBITDA margin for the year ending July 30 is -14.11%, while its operating margin for the same period stands at -14.25%. Its gross profit as reported stood at $772.36 million compared to revenue of $1.07 billion.
For investors, determining the potential profitability of the investment also depends on the performance of the company’s management. In the past 12 months, Elastic N.V’s return on assets was -13.15%.
Earnings Surprise
For the three-month period that ended July 30, Elastic N.V had $567.81 million in total debt. In the quarter under review, the net income was up than the previous quarter. The company posted a net income of -$48.51 million in the quarter, while revenues of -$46.73 million were shrunk -43.37%. The analyst consensus anticipated Elastic N.V’s latest quarter earnings to come in at $0.11 per share, but it turned out to be $0.25, a 127.30% surprise. For the quarter, EBITDA amounted to -$15.83 million. Shareholders own equity worth $98.42 million.
Technical Picture
From a technical analysis perspective, let’s take a brief look at Elastic N.V (ESTC) price momentum. RSI 9-day as of the close on 27 September was 62.52%, suggesting the stock is Neutral, with historical volatility in this time frame at 26.36%.
As of today, ESTC’s price is $79.97 +2.42% or $1.88 from its 5-day moving average. ESTC is currently trading +31.11% higher than its 20-day SMA and +40.57% higher than its 100-day SMA. However, the stock’s current price level is +16.94% above the SMA50 and +48.95% above the SMA200.
The stochastic %K and %D were 56.45% and 63.48%, respectively, and the average true range (ATR) was 2.69. With the 14-day stochastic at 51.75% and the average true range at 2.69, the RSI (14) stands at 64.49%. The stock has reached 1.17 on the 9-day MACD Oscillator while the 14-day reading was at 1.13.
Analyst Ratings
TD Cowen launched coverage on Elastic N.V (NYSE: ESTC) in its analyst report released on August 18, 2023. The firm assigned the stock a Market perform rating. The consensus rating for Elastic N.V (ESTC) among analysts is Overweight. According to current brokerage recommendations, 0 brokerage firms advise that investors sell ESTC, while 9 suggest investors hold. There are 1 analyst who rate the stock as underweight. The stock is rated overweight by 2 analysts, while 11 others rate it as a “buy”.
What is ESTC’s price target for the next 12 months?
Analysts predict a range of price targets between $60.00 and $112.00, with a median target of $81.50. Taking a look at these predictions, the average price target given by analysts for Elastic N.V (ESTC) stock is $81.01.
