Elastic (NYSE:ESTC) Receives Buy Rating from Rosenblatt Securities

Elastic (NYSE:ESTC)‘s stock had its “buy” rating reiterated by investment analysts at Rosenblatt Securities in a report issued on Wednesday,Benzinga reports. They currently have a $130.00 price objective on the stock. Rosenblatt Securities’ price target would indicate a potential upside of 46.62% from the company’s current price.

A number of other equities analysts have also weighed in on the stock. Oppenheimer reiterated an “outperform” rating on shares of Elastic in a research report on Friday, August 29th. Jefferies Financial Group lifted their price objective on shares of Elastic from $110.00 to $125.00 and gave the company a “buy” rating in a research note on Friday, August 29th. DA Davidson started coverage on shares of Elastic in a report on Friday, August 29th. They set a “neutral” rating and a $105.00 target price on the stock. Needham & Company LLC reaffirmed a “hold” rating on shares of Elastic in a report on Friday, October 10th. Finally, Scotiabank set a $90.00 price objective on Elastic and gave the company a “sector perform” rating in a research note on Monday, October 6th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Elastic has an average rating of “Moderate Buy” and an average price target of $118.00.

Elastic Stock Performance

NYSE:ESTC opened at $88.67 on Wednesday. The company has a market capitalization of $9.42 billion, a P/E ratio of -110.83 and a beta of 1.04. The business has a fifty day simple moving average of $86.99 and a two-hundred day simple moving average of $85.56. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.09 and a quick ratio of 2.09. Elastic has a 1 year low of $70.14 and a 1 year high of $118.84.

Elastic (NYSE:ESTC) last issued its quarterly earnings results on Thursday, August 28th. The company reported ($0.08) EPS for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.50). The firm had revenue of $415.29 million for the quarter, compared to analysts’ expectations of $397.13 million. Elastic had a negative net margin of 5.38% and a negative return on equity of 1.68%. The firm’s quarterly revenue was up 19.5% on a year-over-year basis. During the same period in the prior year, the company earned $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. On average, analysts expect that Elastic will post -0.77 earnings per share for the current year.

Elastic announced that its Board of Directors has initiated a share buyback program on Thursday, October 9th that allows the company to repurchase $0.00 in outstanding shares. This repurchase authorization allows the company to buy shares of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board believes its stock is undervalued.

Insider Activity at Elastic

In other news, CAO Jane E. Bone sold 1,250 shares of Elastic stock in a transaction dated Monday, October 13th. The stock was sold at an average price of $87.22, for a total transaction of $109,025.00. Following the completion of the sale, the chief accounting officer owned 37,633 shares in the company, valued at approximately $3,282,350.26. This trade represents a 3.21% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Carolyn Herzog sold 5,143 shares of the business’s stock in a transaction dated Tuesday, September 9th. The stock was sold at an average price of $90.12, for a total value of $463,487.16. Following the transaction, the insider directly owned 94,677 shares of the company’s stock, valued at $8,532,291.24. The trade was a 5.15% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 352,042 shares of company stock valued at $31,087,394 in the last ninety days. 12.70% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Elastic

Several hedge funds have recently bought and sold shares of the stock. Signaturefd LLC increased its holdings in shares of Elastic by 53.7% in the 1st quarter. Signaturefd LLC now owns 335 shares of the company’s stock worth $30,000 after buying an additional 117 shares during the last quarter. Geneos Wealth Management Inc. purchased a new position in Elastic in the second quarter worth $31,000. Smartleaf Asset Management LLC increased its stake in Elastic by 53.7% in the first quarter. Smartleaf Asset Management LLC now owns 435 shares of the company’s stock valued at $40,000 after acquiring an additional 152 shares during the last quarter. Huntington National Bank increased its stake in 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 acquiring an additional 231 shares during the last quarter. Finally, Plato Investment Management Ltd purchased a new stake in Elastic during the second quarter valued at about $40,000. 97.03% of the stock is currently owned by institutional investors.

Elastic Company Profile

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.