Rosenblatt Securities Issues Pessimistic Forecast for Elastic (NYSE:ESTC) Stock Price

Elastic (NYSE:ESTC) had its target price lowered by equities researchers at Rosenblatt Securities from $130.00 to $110.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Rosenblatt Securities’ price objective indicates a potential upside of 62.32% from the stock’s previous close.

Other equities analysts have also issued research reports about the company. Royal Bank Of Canada reduced their price objective on Elastic from $115.00 to $95.00 and set an “outperform” rating on the stock in a research note on Monday, January 5th. Citigroup cut their price target on Elastic from $130.00 to $115.00 and set a “buy” rating for the company in a report on Monday, November 24th. Bank of America reduced their price target on shares of Elastic from $111.00 to $90.00 and set a “neutral” rating on the stock in a research report on Friday, November 21st. Needham & Company LLC restated a “hold” rating on shares of Elastic in a research report on Friday, October 10th. Finally, Truist Financial reduced their target price on shares of Elastic from $140.00 to $120.00 and set a “buy” rating on the stock in a research report on Wednesday, November 19th. Seventeen analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Elastic currently has a consensus rating of “Moderate Buy” and a consensus target price of $104.88.

Elastic Price Performance

NYSE:ESTC opened at $67.77 on Friday. The company has a quick ratio of 1.97, a current ratio of 1.97 and a debt-to-equity ratio of 0.64. The firm has a market cap of $7.14 billion, a PE ratio of -65.79, a price-to-earnings-growth ratio of 298.50 and a beta of 0.92. Elastic has a 12 month low of $65.39 and a 12 month high of $118.84. The company’s 50-day moving average price is $74.13 and its two-hundred day moving average price is $81.29.

Elastic (NYSE:ESTC) last posted its quarterly earnings data on Thursday, November 20th. The company reported $0.64 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.06. The company had revenue of $423.48 million during the quarter, compared to analyst estimates of $418.27 million. Elastic had a negative net margin of 6.79% and a negative return on equity of 2.02%. The company’s revenue was up 15.9% on a year-over-year basis. During the same quarter last year, the business posted $0.59 earnings per share. Elastic has set its Q3 2026 guidance at 0.630-0.65 EPS. On average, equities analysts anticipate that Elastic will post -0.77 EPS for the current fiscal year.

Elastic announced that its board has approved a share repurchase program on Thursday, October 9th that allows the company to buyback $0.00 in shares. This buyback authorization allows the company to reacquire shares of its stock through open market purchases. Shares buyback programs are often a sign that the company’s board believes its shares are undervalued.

Insider Activity at Elastic

In other Elastic news, CFO Navam Welihinda sold 1,046 shares of the stock in a transaction dated Wednesday, December 10th. The stock was sold at an average price of $74.51, for a total value of $77,937.46. Following the transaction, the chief financial officer owned 123,874 shares of the company’s stock, valued at approximately $9,229,851.74. This represents a 0.84% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Ken Exner sold 6,544 shares of the business’s stock in a transaction dated Tuesday, December 9th. The stock was sold at an average price of $75.05, for a total value of $491,127.20. Following the transaction, the insider owned 227,038 shares of the company’s stock, valued at $17,039,201.90. The trade was a 2.80% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 61,828 shares of company stock worth $4,641,010. 12.70% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Sound Income Strategies LLC bought a new stake in Elastic in the fourth quarter valued at approximately $25,000. Geneos Wealth Management Inc. bought a new stake in shares of Elastic in the 2nd quarter valued at $31,000. Huntington National Bank raised its stake in Elastic by 97.5% during the 2nd quarter. Huntington National Bank now owns 468 shares of the company’s stock worth $39,000 after buying an additional 231 shares during the period. Plato Investment Management Ltd acquired a new stake in Elastic during the 2nd quarter worth $40,000. Finally, Promus Capital LLC bought a new position in Elastic during the second quarter worth about $45,000. Institutional investors own 97.03% of the company’s stock.

Elastic Company Profile

Elastic N.V. operates as a search and analytics company, offering a suite of open source and subscription-based solutions for search, observability and security use cases. Its flagship product, Elasticsearch, enables fast and scalable full-text search and analytics across large volumes of structured and unstructured data. Complementary tools such as Kibana provide visualization capabilities, while Beats and Logstash serve as lightweight data shippers and data processing pipelines, respectively.

The company was founded in 2012 by Shay Banon, who serves as chief technology officer, and Steven Schuurman.