Elastic’s (ESTC) Buy Rating Reiterated at Guggenheim

Guggenheim restated their buy rating on shares of Elastic (NYSE:ESTC) in a research note issued to investors on Wednesday morning,Benzinga reports. They currently have a $106.00 price objective on the stock.

A number of other analysts have also recently weighed in on ESTC. Piper Sandler reaffirmed an “overweight” rating on shares of Elastic in a research report on Friday, June 26th. Citigroup increased their price target on Elastic from $95.00 to $104.00 and gave the company a “buy” rating in a report on Friday, May 29th. Rosenblatt Securities cut their price objective on Elastic from $90.00 to $83.00 and set a “buy” rating on the stock in a research report on Friday, June 26th. Wolfe Research set a $55.00 price objective on Elastic in a research note on Friday, May 29th. Finally, The Goldman Sachs Group initiated coverage on Elastic in a research report on Tuesday, April 21st. They issued a “neutral” rating and a $50.00 target price for the company. Seventeen research analysts have rated the stock with a Buy rating and thirteen have assigned a Hold rating to the company. According to data from MarketBeat.com, Elastic presently has a consensus rating of “Moderate Buy” and a consensus target price of $83.41.

Elastic Trading Up 0.0%

NYSE ESTC opened at $85.91 on Wednesday. Elastic has a one year low of $42.05 and a one year high of $96.07. The company’s 50 day moving average price is $65.70 and its 200 day moving average price is $58.18. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.68 and a current ratio of 1.68. The firm has a market capitalization of $8.93 billion, a price-to-earnings ratio of 24.55, a PEG ratio of 21.53 and a beta of 0.98.

Elastic (NYSE:ESTC) last announced its quarterly earnings results on Thursday, May 28th. The company reported $0.61 earnings per share for the quarter, beating analysts’ consensus estimates of $0.56 by $0.05. Elastic had a net margin of 21.14% and a negative return on equity of 1.82%. The firm had revenue of $450.68 million for the quarter, compared to analysts’ expectations of $446.66 million. During the same period in the previous year, the company posted $0.47 earnings per share. Elastic’s revenue 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 predict that Elastic will post 0.24 EPS for the current year.

Insiders Place Their Bets

In related news, CRO Mark Eugene Dodds sold 18,439 shares of the firm’s stock in a transaction on 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 completion of the sale, the executive directly owned 298,211 shares of the company’s stock, valued at approximately $18,074,568.71. This trade represents a 5.82% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 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 Elastic stock in a transaction on Tuesday, June 9th. The stock was sold at an average price of $60.61, for a total transaction of $1,118,193.89. Following the sale, the insider directly owned 360,037 shares in the company, valued at $21,821,842.57. This trade represents a 4.87% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders sold 110,099 shares of company stock valued at $6,673,100. Corporate insiders own 12.70% of the company’s stock.

Institutional Trading of Elastic

A number of hedge funds and other institutional investors have recently modified their holdings of ESTC. Bessemer Group Inc. purchased a new position in Elastic in the first quarter valued at about $25,000. Basecamp Wealth Advisors LLC purchased a new stake in Elastic during the 1st quarter worth approximately $28,000. Geneos Wealth Management Inc. purchased a new stake in Elastic during the 2nd quarter worth approximately $31,000. Activest Wealth Management raised its position in shares of Elastic by 3,181.2% in the 4th quarter. Activest Wealth Management now owns 525 shares of the company’s stock valued at $40,000 after purchasing an additional 509 shares in the last quarter. Finally, Harbor Investment Advisory LLC acquired a new position in shares of Elastic in the 2nd quarter valued at approximately $42,000. 97.03% of the stock is owned by hedge funds and other institutional investors.

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 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.