Elastic N.V. (NYSE: ESTC) stock jumped 1.67% on Tuesday to $66.81 against a previous-day closing price of $65.71. With 1.4 million shares changed hands, the volume of the stock remained heavier than its average volume of 0.97 million shares. During the session, the Software – Application company that operates in wider Technology sector, reached to the highest price of $69.19 whereas the lowest price it dropped to was $65.38. The 52-week range on ESTC shows that it touched its highest point at $91.30 and its lowest point at $46.18 during that stretch. It currently has a 1-year price target of $70.67. Beta for the stock currently stands at 1.04.
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Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of ESTC was up-trending over the past week, with a rise of 10.17%, but this was up by 14.42% over a month. Three-month performance surged to 10.61% while six-month performance rose 15.17%. The stock gained 11.35% in the past year, while it has gained 29.73% so far this year. A look at the trailing 12-month EPS for ESTC yields -2.69 with Next year EPS estimates of 0.89. For the next quarter, that number is 0.14. This implies an EPS growth rate of -48.40% for this year and 584.62% for next year. EPS is expected to grow by 23.10% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of -24.10%.
Float and Shares Shorts:
At present, 96.05 million ESTC shares are outstanding with a float of 78.04 million shares on hand for trading. On Apr 27, 2023, short shares totaled 3.65 million, which was 3.78% higher than short shares on Mar 30, 2023. In addition to Mr. Ashutosh Kulkarni as the firm’s CEO & Director, Mr. Steven Schuurman CBDO serves as its Co-Founder & Independent Non-Exec. Director.
Through their ownership of 79.81% of ESTC’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 41.00% of ESTC, in contrast to 39.22% held by mutual funds. Shares owned by individuals account for 39.09%. As the largest shareholder in ESTC with 7.91% of the stake, Baillie Gifford & Co. holds 7,634,113 shares worth 7,634,113. A second-largest stockholder of ESTC, The Vanguard Group, Inc., holds 7,447,807 shares, controlling over 7.72% of the firm’s shares. Fidelity Management & Research Co is the third largest shareholder in ESTC, holding 5,376,568 shares or 5.57% stake. With a 5.07% stake in ESTC, the Vanguard International Growth Fun is the largest stakeholder. A total of 4,896,014 shares are owned by the mutual fund manager. The Fidelity Funds SICAV – Global Tec, which owns about 2.62% of ESTC stock, is the second-largest Mutual Fund holder. It holds 2,528,986 shares valued at 144.78 million. Vanguard Total Stock Market ETF holds 2.44% of the stake in ESTC, owning 2,359,301 shares worth 135.07 million.
An Overview of Recent Financials:
Understanding a company as a customer does not mean you will understand it as an investor. The wise investor uses quantitative research to analyze metrics such as revenue, net income, and earnings. In its fiscal quarter reported on Jan 30, 2023, ESTC reported revenue of $239.35M and operating income of -$59.62M. The EBITDA in the recently reported quarter was -$57.34M and diluted EPS was -$0.70.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for ESTC since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With ESTC analysts setting a high price target of $85.00 and a low target of $55.00, the average target price over the next 12 months is $70.49. Based on these targets, ESTC could surge 27.23% to reach the target high and fall by -17.68% to reach the target low. Reaching the average price target will result in a growth of 5.51% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy.
Summary of Insider Activity:
Insiders traded ESTC stock several times over the past three months with 0 Buys and 3 Sells. In these transactions, 0 shares were bought while 8,173 shares were sold. The number of buy transactions has increased to 17 while that of sell transactions has risen to 19 over the past year. The total number of shares bought during that period was 645,532 while 52,225 shares were sold.