Brokerages Set Elastic N.V. (NYSE:ESTC) PT at $82.19

Elastic N.V. (NYSE:ESTC) has received a consensus recommendation of “Moderate Buy” from the thirty research firms that are presently covering the stock, MarketBeat.com reports. Thirteen equities research analysts have rated the stock with a hold recommendation and seventeen have given a buy recommendation to the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $83.4074.

A number of research analysts have recently commented on the stock. Wall Street Zen lowered shares of Elastic from a “buy” rating to a “hold” rating in a research report on Saturday, June 13th. TD Cowen reduced their price target on shares of Elastic from $65.00 to $60.00 and set a “hold” rating on the stock in a research report on Tuesday, May 26th. DA Davidson decreased their price objective on Elastic from $65.00 to $60.00 and set a “neutral” rating on the stock in a report on Friday, May 29th. Weiss Ratings raised Elastic from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday, July 15th. Finally, Royal Bank Of Canada upped their price target on shares of Elastic from $70.00 to $87.00 and gave the company an “outperform” rating in a report on Friday, August 14th.

Key Stories Impacting Elastic

Here are the key news stories impacting Elastic this week:

• Positive Sentiment: JPMorgan raised its price target on Elastic from $80 to $93 and upgraded its stance to “overweight,” implying further upside from the current trading level. Benzinga report on JPMorgan’s Elastic price-target increase
• Positive Sentiment: Truist also increased its target, lifting it from $80 to $100 while maintaining a “buy” rating. The higher target reflects stronger analyst confidence in Elastic’s growth prospects. Benzinga report on Truist’s Elastic price-target increase
• Positive Sentiment: Guggenheim awarded Elastic a “buy” rating, adding another favorable analyst view and reinforcing the constructive sentiment around the software company. Elastic earns Buy Rating from Guggenheim
• Positive Sentiment: A Zacks analysis characterized Elastic as a strong growth stock, highlighting its appeal to growth, value, and momentum investors. Why Elastic is a strong growth stock
• Neutral Sentiment: Elastic is scheduled to report quarterly results on Thursday. The release could provide a near-term catalyst, particularly through its outlook for cloud demand, revenue growth, and profitability. Elastic quarterly earnings announcement
• Negative Sentiment: A Zacks preview warned that first-quarter earnings are expected to decline and said Elastic may lack the usual factors associated with a likely earnings beat. This creates downside risk if results or guidance disappoint investors. Elastic earnings preview

Elastic Stock Down 0.0%

ESTC opened at $85.91 on Wednesday. Elastic has a 12 month low of $42.05 and a 12 month high of $96.07. The company has a 50 day moving average of $65.70 and a 200 day moving average of $58.13. The company has a current ratio of 1.68, a quick ratio of 1.68 and a debt-to-equity ratio of 0.45. The company has a market cap of $8.93 billion, a PE ratio of 24.55, a price-to-earnings-growth ratio of 21.54 and a beta of 0.98.

Elastic (NYSE:ESTC) last released its quarterly earnings data on Thursday, May 28th. The company reported $0.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.56 by $0.05. Elastic had a negative return on equity of 1.82% and a net margin of 21.14%.The company had revenue of $450.68 million for the quarter, compared to analyst estimates of $446.66 million. During the same period in the previous year, the company posted $0.47 EPS. The firm’s revenue for the quarter was up 16.0% compared to the same quarter last year. Elastic has set its FY 2027 guidance at 3.210-3.290 EPS and its Q1 2027 guidance at 0.570-0.590 EPS. On average, sell-side analysts expect that Elastic will post 0.24 EPS for the current year.

Insider Buying and Selling

In related news, insider Ken Exner sold 18,449 shares of Elastic stock in a transaction on Tuesday, June 9th. The shares were sold at an average price of $60.61, for a total value of $1,118,193.89. Following the sale, the insider owned 360,037 shares in the company, valued at $21,821,842.57. The trade was a 4.87% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CRO Mark Eugene Dodds sold 18,439 shares of Elastic stock in a transaction dated Tuesday, June 9th. The shares were sold at an average price of $60.61, for a total transaction of $1,117,587.79. Following the sale, the executive directly owned 298,211 shares in the company, valued at $18,074,568.71. The trade was a 5.82% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 110,099 shares of company stock valued at $6,673,100 over the last three months. Insiders own 12.70% of the company’s stock.

Institutional Investors Weigh In On Elastic

Several hedge funds have recently added to or reduced their stakes in ESTC. AQR Capital Management LLC boosted its stake in Elastic by 153.4% in the 4th quarter. AQR Capital Management LLC now owns 7,545,081 shares of the company’s stock worth $569,201,000 after purchasing an additional 4,567,720 shares in the last quarter. Pictet Asset Management Holding SA boosted its stake in shares of Elastic by 43.2% in the 1st quarter. Pictet Asset Management Holding SA now owns 6,492,717 shares of the company’s stock worth $324,550,000 after buying an additional 1,958,219 shares during the last quarter. FIL Ltd grew its stake in shares of Elastic by 36.9% during the 4th quarter. FIL Ltd now owns 3,628,748 shares of the company’s stock valued at $273,753,000 after purchasing an additional 977,578 shares during the period. First Trust Advisors LP grew its position in Elastic by 516.1% during the first quarter. First Trust Advisors LP now owns 2,627,636 shares of the company’s stock valued at $131,356,000 after buying an additional 2,201,140 shares during the period. Finally, Geode Capital Management LLC grew its position in shares of Elastic by 2.9% during the 4th quarter. Geode Capital Management LLC now owns 1,724,508 shares of the company’s stock valued at $130,124,000 after acquiring an additional 49,198 shares during the period. 97.03% of the stock is owned by institutional investors.

About Elastic

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.