Elastic (NYSE:ESTC) Price Target Raised to $120.00

Elastic (NYSE:ESTC) had its price objective lifted by Canaccord Genuity Group from $80.00 to $120.00 in a report published on Friday morning,Benzinga reports. Canaccord Genuity Group currently has a buy rating on the stock.

ESTC has been the topic of several other research reports. 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. Wall Street Zen cut shares of Elastic from a “buy” rating to a “hold” rating in a research note on Saturday, June 13th. Wells Fargo & Company raised their price objective on shares of Elastic from $60.00 to $80.00 and gave the stock an “equal weight” rating in a research note on Tuesday, August 25th. Wedbush cut their price objective on Elastic from $74.00 to $65.00 and set an “outperform” rating for the company in a research report on Friday, May 29th. Finally, Wolfe Research set a $55.00 target price on Elastic in a research note on Friday, May 29th. Fifteen analysts have rated the stock with a Buy rating and fourteen have given a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $94.12.

Elastic Trading Down 0.2%

NYSE:ESTC opened at $99.75 on Friday. The company has a market capitalization of $10.37 billion, a PE ratio of 27.94, a price-to-earnings-growth ratio of 23.93 and a beta of 0.98. The company has a quick ratio of 1.68, a current ratio of 1.68 and a debt-to-equity ratio of 0.45. Elastic has a 52-week low of $42.05 and a 52-week high of $108.00. The stock has a fifty day simple moving average of $68.25 and a 200-day simple moving average of $59.03.

Elastic (NYSE:ESTC) last released its quarterly earnings data on Thursday, August 27th. The company reported $0.70 EPS for the quarter, topping the consensus estimate of $0.58 by $0.12. The business had revenue of $478.11 million for the quarter, compared to analyst estimates of $469.75 million. Elastic had a net margin of 20.84% and a negative return on equity of 0.38%. The business’s revenue for the quarter was up 15.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.60 EPS. Elastic has set its FY 2027 guidance at 3.290-3.370 EPS and its Q2 2027 guidance at 0.800-0.820 EPS. On average, equities research analysts expect that Elastic will post 0.25 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CFO Navam Welihinda sold 12,961 shares of the business’s stock in a transaction that occurred on Tuesday, June 9th. The shares were sold at an average price of $60.61, for a total value of $785,566.21. Following the completion of the transaction, the chief financial officer owned 209,254 shares of the company’s stock, valued at $12,682,884.94. The trade was a 5.83% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Ken Exner sold 18,449 shares of the business’s stock in a transaction that occurred on Tuesday, June 9th. The shares were sold at an average price of $60.61, for a total transaction of $1,118,193.89. Following the completion of the transaction, the insider directly owned 360,037 shares of the company’s stock, valued at approximately $21,821,842.57. This represents a 4.87% 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 sold 110,099 shares of company stock worth $6,673,100 in the last 90 days. 12.70% of the stock is currently owned by corporate insiders.

Institutional Trading of Elastic

Hedge funds and other institutional investors have recently bought and sold shares of the company. Orion Porfolio Solutions LLC grew its stake in Elastic by 1.4% in the third quarter. Orion Porfolio Solutions LLC now owns 8,593 shares of the company’s stock worth $726,000 after purchasing an additional 118 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its stake in Elastic by 17.3% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,159 shares of the company’s stock valued at $98,000 after buying an additional 171 shares in the last quarter. Public Employees Retirement System of Ohio raised its stake in Elastic by 0.6% during the third quarter. Public Employees Retirement System of Ohio now owns 28,323 shares of the company’s stock valued at $2,393,000 after buying an additional 175 shares in the last quarter. California State Teachers Retirement System lifted its holdings in Elastic by 0.3% during the 2nd quarter. California State Teachers Retirement System now owns 83,403 shares of the company’s stock worth $7,033,000 after buying an additional 219 shares during the last quarter. Finally, 180 Wealth Advisors LLC lifted its holdings in Elastic by 4.6% during the 2nd quarter. 180 Wealth Advisors LLC now owns 6,027 shares of the company’s stock worth $344,000 after buying an additional 263 shares during the last quarter. 97.03% of the stock is owned by hedge funds and other institutional investors.

More Elastic News

Here are the key news stories impacting Elastic this week:

• Positive Sentiment: Quarterly beat and raised outlook: Elastic reported adjusted EPS of $0.70 versus the consensus estimate of $0.58, while revenue reached approximately $478.1 million, up about 15% year over year and ahead of most estimates. Management guided fiscal Q2 EPS to $0.80-$0.82, compared with the $0.66 consensus, and raised fiscal 2027 EPS guidance to $3.29-$3.37 versus an expected $2.64. Elastic Tops Q1 Earnings and Revenue Estimates
• Positive Sentiment: AI and enterprise demand are supporting growth: Coverage highlights increasing AI adoption, expansion among large enterprise customers and new product investments as drivers of Elastic’s accelerating revenue outlook. The results also showed solid cash generation, with operating cash flow of roughly $132 million. Another Day, Another Software Stock Surging 20%
• Positive Sentiment: Analyst targets moved higher: Oppenheimer, Jefferies, JPMorgan, Canaccord Genuity and Robert W. Baird all raised their price targets following the earnings report. Several firms now carry targets of $118-$120, with ratings ranging from “buy” to “outperform,” reinforcing the bullish reaction. Jefferies Raises Elastic Price Target
• Neutral Sentiment: Elastic announced that proxy materials for its October 15, 2026 annual shareholder meeting are available online. The filing is routine and is unlikely to materially affect the stock. Elastic Announces Proxy Materials Availability
• Negative Sentiment: Some valuation caution remains: Morgan Stanley maintained an “equal weight” rating with a $75 target, below the current trading level. Reported insider activity also shows sales without purchases in recent months, although these transactions may reflect routine diversification.

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.