Elastic (NYSE:ESTC) Price Target Cut to $107.00 by Analysts at Barclays

Elastic (NYSE:ESTC) had its price objective reduced by Barclays from $125.00 to $107.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Barclays‘s target price would suggest a potential upside of 49.35% from the company’s current price.

Several other equities research analysts also recently weighed in on the company. Scotiabank restated a “sector perform” rating and set a $76.00 price target on shares of Elastic in a report on Friday. Truist Financial cut their target price on shares of Elastic from $140.00 to $120.00 and set a “buy” rating on the stock in a research note on Wednesday. Stifel Nicolaus decreased their price target on shares of Elastic from $134.00 to $108.00 and set a “buy” rating for the company in a research note on Friday. JPMorgan Chase & Co. lowered their price target on shares of Elastic from $120.00 to $113.00 and set an “overweight” rating for the company in a report on Friday. Finally, Needham & Company LLC reissued a “hold” rating on shares of Elastic in a research report on Friday, October 10th. One analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, thirteen have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $110.68.

Elastic Stock Down 12.7%

ESTC stock traded down $10.43 during midday trading on Friday, hitting $71.65. The company’s stock had a trading volume of 4,739,471 shares, compared to its average volume of 1,744,439. The company has a quick ratio of 2.09, a current ratio of 2.09 and a debt-to-equity ratio of 0.59. Elastic has a 52-week low of $68.78 and a 52-week high of $118.84. The firm has a market capitalization of $7.61 billion, a P/E ratio of -89.52 and a beta of 1.04. The firm has a 50-day simple moving average of $86.82 and a 200-day simple moving average of $85.56.

Elastic (NYSE:ESTC) last posted its quarterly earnings data 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 company had revenue of $415.29 million for the quarter, compared to analysts’ expectations of $397.13 million. Elastic had a negative return on equity of 1.68% and a negative net margin of 5.38%.The firm’s revenue was up 19.5% compared to the same quarter last year. During the same period in the prior year, the company posted $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. As a group, equities analysts forecast that Elastic will post -0.77 EPS for the current year.

Elastic declared that its board has approved a share buyback plan on Thursday, October 9th that authorizes the company to repurchase $0.00 in outstanding shares. This repurchase authorization authorizes the company to purchase shares of its stock through open market purchases. Shares repurchase plans are generally a sign that the company’s board of directors believes its stock is undervalued.

Insider Activity

In other Elastic news, insider Carolyn Herzog sold 5,143 shares of the firm’s stock in a transaction dated Tuesday, September 9th. The stock was sold at an average price of $90.12, for a total transaction of $463,487.16. Following the transaction, the insider owned 94,677 shares of the company’s stock, valued at approximately $8,532,291.24. This trade represents a 5.15% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Ken Exner sold 6,290 shares of the business’s stock in a transaction dated Tuesday, September 9th. The shares were sold at an average price of $90.12, for a total value of $566,854.80. Following the completion of the sale, the insider directly owned 233,582 shares of the company’s stock, valued at $21,050,409.84. The trade was a 2.62% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 352,042 shares of company stock worth $31,087,394 over the last three months. Company insiders own 12.70% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in ESTC. Vanguard Group Inc. lifted its stake in Elastic by 7.4% in the third quarter. Vanguard Group Inc. now owns 10,206,204 shares of the company’s stock valued at $862,322,000 after buying an additional 705,991 shares during the last quarter. AQR Capital Management LLC increased its holdings in shares of Elastic by 62.5% in the 3rd quarter. AQR Capital Management LLC now owns 2,977,361 shares of the company’s stock valued at $251,557,000 after acquiring an additional 1,145,146 shares during the period. Voya Investment Management LLC increased its holdings in shares of Elastic by 4.7% in the 3rd quarter. Voya Investment Management LLC now owns 1,781,925 shares of the company’s stock valued at $150,555,000 after acquiring an additional 79,465 shares during the period. State Street Corp raised its position in Elastic by 4.0% in the 2nd quarter. State Street Corp now owns 1,574,525 shares of the company’s stock valued at $132,780,000 after purchasing an additional 59,850 shares during the last quarter. Finally, Geode Capital Management LLC boosted its stake in Elastic by 3.6% during the 2nd quarter. Geode Capital Management LLC now owns 1,569,578 shares of the company’s stock worth $132,384,000 after purchasing an additional 54,812 shares during the period. 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.