Elastic NV (NYSE:ESTC) Short Interest Up 6.8% in November

Elastic NV (NYSE:ESTC) saw a significant increase in short interest in the month of November. As of November 29th, there was short interest totalling 4,850,000 shares, an increase of 6.8% from the November 14th total of 4,540,000 shares. Approximately 10.3% of the shares of the company are short sold. Based on an average trading volume of 1,520,000 shares, the short-interest ratio is presently 3.2 days.

In other Elastic news, CRO Aaron Katz sold 25,000 shares of Elastic stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $63.84, for a total value of $1,596,000.00. Also, SVP W.H. Baird Garrett sold 9,000 shares of Elastic stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $94.05, for a total value of $846,450.00. Over the last 90 days, insiders sold 296,000 shares of company stock valued at $25,053,030. 44.20% of the stock is currently owned by insiders.

Large investors have recently made changes to their positions in the stock. Phocas Financial Corp. bought a new position in shares of Elastic in the second quarter valued at $2,195,000. Coastal Investment Advisors Inc. bought a new position in shares of Elastic in the third quarter valued at $37,000. US Bancorp DE bought a new position in shares of Elastic in the second quarter valued at $37,000. Steward Partners Investment Advisory LLC bought a new position in shares of Elastic in the third quarter valued at $53,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank bought a new position in shares of Elastic in the second quarter valued at $82,000. 65.02% of the stock is currently owned by hedge funds and other institutional investors.

Several equities analysts have recently issued reports on ESTC shares. Citigroup boosted their price objective on Elastic from $98.00 to $100.00 and gave the stock a “neutral” rating in a research report on Thursday, August 29th. Canaccord Genuity upgraded Elastic from a “hold” rating to a “buy” rating and set a $90.00 price objective for the company in a research report on Monday, November 18th. Stifel Nicolaus reduced their price objective on Elastic from $100.00 to $84.00 and set a “hold” rating for the company in a research report on Thursday, December 5th. JPMorgan Chase & Co. boosted their price objective on Elastic from $80.00 to $85.00 and gave the stock a “neutral” rating in a research report on Thursday, August 29th. Finally, Piper Jaffray Companies started coverage on Elastic in a research report on Monday, October 28th. They set an “overweight” rating and a $93.00 price objective for the company. Six research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Elastic presently has a consensus rating of “Buy” and a consensus price target of $98.43.

NYSE:ESTC traded up $1.15 during midday trading on Friday, hitting $62.16. 1,313,939 shares of the stock were exchanged, compared to its average volume of 1,788,808. Elastic has a one year low of $60.10 and a one year high of $104.10. The company has a market capitalization of $5.01 billion and a price-to-earnings ratio of -34.53. The business has a 50-day moving average price of $73.37 and a two-hundred day moving average price of $82.13. The company has a current ratio of 1.64, a quick ratio of 2.06 and a debt-to-equity ratio of 0.08.

Elastic (NYSE:ESTC) last announced its earnings results on Wednesday, December 4th. The company reported ($0.22) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.50) by $0.28. Elastic had a negative return on equity of 40.66% and a negative net margin of 43.22%. The firm had revenue of $101.10 million for the quarter, compared to analysts’ expectations of $96.51 million. During the same quarter in the previous year, the company earned ($0.38) earnings per share. The firm’s quarterly revenue was up 59.0% compared to the same quarter last year. Sell-side analysts forecast that Elastic will post -1.97 EPS for the current fiscal year.

About Elastic

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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