Elastic (NYSE:ESTC) Price Target Cut to $85.00 by Analysts at Cantor Fitzgerald

Elastic (NYSE:ESTC) had its price objective decreased by research analysts at Cantor Fitzgerald from $94.00 to $85.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm presently has a “neutral” rating on the stock. Cantor Fitzgerald’s price objective indicates a potential upside of 16.51% from the stock’s current price.

Other equities research analysts have also issued reports about the company. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Elastic in a research report on Wednesday, October 8th. Wall Street Zen upgraded Elastic from a “hold” rating to a “buy” rating in a report on Saturday, October 11th. Mizuho raised their target price on shares of Elastic from $100.00 to $119.00 and gave the stock an “outperform” rating in a report on Friday, August 29th. UBS Group boosted their price target on shares of Elastic from $95.00 to $125.00 and gave the company a “buy” rating in a report on Friday, August 29th. Finally, Wells Fargo & Company started coverage on shares of Elastic in a research note on Tuesday, September 30th. They issued an “equal weight” rating and a $90.00 price objective for the company. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, twelve have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Elastic currently has a consensus rating of “Moderate Buy” and an average price target of $112.88.

Elastic Trading Down 11.1%

NYSE:ESTC opened at $72.96 on Friday. The stock has a market cap of $7.75 billion, a price-to-earnings ratio of -92.05 and a beta of 1.04. The company has a debt-to-equity ratio of 0.59, a quick ratio of 2.09 and a current ratio of 2.09. Elastic has a 1 year low of $70.14 and a 1 year high of $118.84. The business has a fifty day moving average of $86.82 and a 200-day moving average of $85.56.

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 during the quarter, compared to analyst estimates of $397.13 million. Elastic had a negative return on equity of 1.68% and a negative net margin of 5.38%.The business’s revenue for the quarter was up 19.5% on a year-over-year basis. During the same quarter last year, the company earned $0.35 earnings per share. Elastic has set its FY 2026 guidance at 2.290-2.350 EPS. Q2 2026 guidance at 0.560-0.580 EPS. Equities analysts predict that Elastic will post -0.77 earnings per share for the current year.

Elastic declared that its Board of Directors has approved a stock buyback program on Thursday, October 9th that allows the company to repurchase $0.00 in outstanding shares. This repurchase authorization allows the company to repurchase shares of its stock through open market purchases. Shares repurchase programs are generally an indication that the company’s leadership believes its stock is undervalued.

Insider Activity

In other Elastic news, CTO Shay Banon sold 104,326 shares of the stock in a transaction on Tuesday, September 9th. The shares were sold at an average price of $90.34, for a total value of $9,424,810.84. Following the completion of the sale, the chief technology officer directly owned 4,363,780 shares of the company’s stock, valued at $394,223,885.20. This represents a 2.33% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Ken Exner sold 6,290 shares of the firm’s stock in a transaction on Tuesday, September 9th. The stock was sold at an average price of $90.12, for a total transaction of $566,854.80. Following the completion of the sale, the insider owned 233,582 shares in the company, valued at $21,050,409.84. This represents a 2.62% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 352,042 shares of company stock worth $31,087,394. Corporate insiders own 12.70% of the company’s stock.

Hedge Funds Weigh In On Elastic

Several large investors have recently added to or reduced their stakes in the company. Geneos Wealth Management Inc. acquired a new stake in shares of Elastic during the 2nd quarter worth approximately $31,000. Huntington National Bank raised its stake in shares of Elastic by 97.5% in the second quarter. Huntington National Bank now owns 468 shares of the company’s stock valued at $39,000 after purchasing an additional 231 shares in the last quarter. Smartleaf Asset Management LLC lifted its position in 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 purchasing an additional 152 shares during the period. Plato Investment Management Ltd acquired a new stake in Elastic during the second quarter worth $40,000. Finally, Promus Capital LLC acquired a new stake in Elastic during the second quarter worth $45,000. Institutional investors and hedge funds own 97.03% of the company’s stock.

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.