Elastic N.V (NYSE: ESTC)’s stock price has decreased by -0.38 compared to its previous closing price of 97.98. However, the company has seen a -2.83% decrease in its stock price over the last five trading sessions. The Motley Fool reported 2024-03-18 that Artificial intelligence (AI) stocks have delivered strong gains over the past year. Investors have rushed into popular AI names like Nvidia, Microsoft, and C3.ai.
Is It Worth Investing in Elastic N.V (NYSE: ESTC) Right Now?
Elastic N.V (NYSE: ESTC) has a higher price-to-earnings ratio of 213.17x compared to its average ratio, The 36-month beta value for ESTC is at 0.94. Analysts have varying views on the stock, with 3 analysts rating it as a “buy,” 0 rating it as “overweight,” 4 as “hold,” and 0 as “sell.”
The public float for ESTC is 83.01M, and currently, shorts hold a 4.30% of that float. The average trading volume for ESTC on April 04, 2024 was 1.45M shares.
ESTC’s Market Performance
The stock of Elastic N.V (ESTC) has seen a -2.83% decrease in the past week, with a -9.95% drop in the past month, and a -8.38% fall in the past quarter. The volatility ratio for the week is 2.40%, and the volatility levels for the past 30 days are at 3.08% for ESTC. The simple moving average for the past 20 days is -5.24% for ESTC’s stock, with a 9.48% simple moving average for the past 200 days.
Analysts’ Opinion of ESTC
Many brokerage firms have already submitted their reports for ESTC stocks, with Scotiabank repeating the rating for ESTC by listing it as a “Sector Outperform.” The predicted price for ESTC in the upcoming period, according to Scotiabank is $185 based on the research report published on February 15, 2024 of the current year 2024.
Barclays, on the other hand, stated in their research note that they expect to see ESTC reach a price target of $110, previously predicting the price at $100. The rating they have provided for ESTC stocks is “Equal Weight” according to the report published on January 12th, 2024.
Wells Fargo gave a rating of “Overweight” to ESTC, setting the target price at $108 in the report published on December 01st of the previous year.
ESTC Trading at -15.66% from the 50-Day Moving Average
After a stumble in the market that brought ESTC to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -28.26% of loss for the given period.
Volatility was left at 3.08%, however, over the last 30 days, the volatility rate increased by 2.40%, as shares sank -9.95% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -20.78% lower at present.
During the last 5 trading sessions, ESTC fell by -2.83%, which changed the moving average for the period of 200-days by +40.53% in comparison to the 20-day moving average, which settled at $102.46. In addition, Elastic N.V saw -13.39% in overturn over a single year, with a tendency to cut further losses.
Insider Trading
Reports are indicating that there were more than several insider trading activities at ESTC starting from Herzog Carolyn, who sale 192 shares at the price of $99.95 back on Mar 27 ’24. After this action, Herzog Carolyn now owns 87,799 shares of Elastic N.V, valued at $19,190 using the latest closing price.
Schuurman Steven, the Director of Elastic N.V, sale 815,000 shares at $97.54 during a trade that took place back on Mar 26 ’24, which means that Schuurman Steven is holding 8,382,000 shares at $79,495,100 based on the most recent closing price.
Stock Fundamentals for ESTC
Current profitability levels for the company are sitting at:
- -0.1 for the present operating margin
- 0.74 for the gross margin
The net margin for Elastic N.V stands at 0.05. The total capital return value is set at -0.09. Equity return is now at value 10.26, with 3.04 for asset returns.
Based on Elastic N.V (ESTC), the company’s capital structure generated 0.45 points at debt to capital in total, while cash flow to debt ratio is standing at 0.2. The debt to equity ratio resting at 0.82. The interest coverage ratio of the stock is -4.83.
Currently, EBITDA for the company is -140.19 million with net debt to EBITDA at -0.83. When we switch over and look at the enterprise to sales, we see a ratio of 8.17. The receivables turnover for the company is 5.27for trailing twelve months and the total asset turnover is 0.59. The liquidity ratio also appears to be rather interesting for investors as it stands at 1.78.
Conclusion
In conclusion, Elastic N.V (ESTC) has had a bad performance lately. Opinion on the stock among analysts is mixed, with some giving it a “buy” rating and others a “hold”. It’s important to note that the stock is currently trading at a significant distance from its 50-day moving average and its 52-week high.
