Elastic (NYSE:ESTC) Stock Rating Upgraded by Wall Street Zen

Elastic (NYSE:ESTC) was upgraded by analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a report issued on Saturday.

ESTC has been the subject of a number of other research reports. DA Davidson assumed coverage on Elastic in a research report on Friday, August 29th. They set a “neutral” rating and a $105.00 target price for the company. Royal Bank Of Canada boosted their target price on Elastic from $106.00 to $125.00 and gave the stock an “outperform” rating in a research report on Friday, August 29th. Oppenheimer restated an “outperform” rating on shares of Elastic in a research report on Friday, August 29th. Zacks Research downgraded Elastic from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 26th. Finally, Cantor Fitzgerald restated a “neutral” rating on shares of Elastic in a research report on Friday, August 29th. One research analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Elastic currently has an average rating of “Moderate Buy” and a consensus target price of $119.00.

Elastic Price Performance

Elastic stock opened at $86.52 on Friday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 2.09 and a current ratio of 2.09. The firm has a market cap of $9.19 billion, a P/E ratio of -108.15 and a beta of 1.05. The business’s fifty day moving average is $83.40 and its two-hundred day moving average is $84.40. Elastic has a 52 week low of $70.14 and a 52 week high of $118.84.

Elastic (NYSE:ESTC) last released its earnings results on Thursday, August 28th. The company reported ($0.08) earnings per share for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.50). The firm had revenue of $415.29 million for the quarter, compared to the consensus estimate of $397.13 million. Elastic had a negative return on equity of 1.68% and a negative net margin of 5.38%.The company’s revenue was up 19.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.35 EPS. Elastic has set its FY 2026 guidance at 2.290-2.350 EPS. Q2 2026 guidance at 0.560-0.580 EPS. Equities research analysts forecast that Elastic will post -0.77 earnings per share for the current fiscal year.

Elastic announced that its board has approved a share repurchase plan on Thursday, October 9th that authorizes the company to repurchase $0.00 in shares. This repurchase authorization authorizes the company to buy shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its stock is undervalued.

Insiders Place Their Bets

In related news, insider Carolyn Herzog sold 5,143 shares of the company’s stock in a transaction dated Tuesday, September 9th. The stock was sold at an average price of $90.12, for a total value of $463,487.16. Following the completion of the sale, the insider owned 94,677 shares in the company, valued at approximately $8,532,291.24. This represents a 5.15% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CRO Mark Eugene Dodds sold 5,037 shares of the stock in a transaction dated Tuesday, September 9th. The stock was sold at an average price of $90.12, for a total value of $453,934.44. Following the completion of the sale, the executive owned 167,284 shares of the company’s stock, valued at $15,075,634.08. This trade represents a 2.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 350,792 shares of company stock valued at $30,978,369 in the last ninety days. 12.70% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Elastic

Large investors have recently modified their holdings of the business. Cloud Capital Management LLC bought a new stake in shares of Elastic in the first quarter worth about $25,000. Signaturefd LLC increased its holdings in shares of Elastic by 53.7% in the first quarter. Signaturefd LLC now owns 335 shares of the company’s stock worth $30,000 after acquiring an additional 117 shares in the last quarter. Geneos Wealth Management Inc. bought a new stake in shares of Elastic in the second quarter worth about $31,000. North Capital Inc. bought a new stake in shares of Elastic in the first quarter worth about $37,000. Finally, Smartleaf Asset Management LLC increased its holdings in shares of Elastic by 53.7% in the first quarter. Smartleaf Asset Management LLC now owns 435 shares of the company’s stock worth $40,000 after acquiring an additional 152 shares in the last quarter. 97.03% of the stock is currently owned by institutional investors.

About Elastic

Elastic N.V., a data analytics company, delivers solutions designed to run in public or private clouds in multi-cloud environments. It primarily offers 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 on that data.