Elastic (NYSE:ESTC) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Elastic (NYSE:ESTC) from a hold rating to a buy rating in a research note released on Saturday morning.

Other equities analysts have also recently issued research reports about the stock. Morgan Stanley increased their price objective on shares of Elastic from $115.00 to $120.00 and gave the stock an “overweight” rating in a research report on Friday, August 29th. Wells Fargo & Company assumed coverage on shares of Elastic in a research report on Tuesday, September 30th. They set an “equal weight” rating and a $90.00 price objective on the stock. Robert W. Baird increased their price objective on shares of Elastic from $120.00 to $130.00 and gave the stock an “outperform” rating in a research report on Friday. UBS Group increased their price objective on shares of Elastic from $95.00 to $125.00 and gave the stock a “buy” rating in a research report on Friday, August 29th. Finally, Zacks Research cut shares of Elastic from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 26th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Elastic has an average rating of “Moderate Buy” and a consensus price target of $119.00.

Elastic Stock Performance

Shares of ESTC opened at $84.81 on Friday. The company has a current ratio of 2.09, a quick ratio of 2.09 and a debt-to-equity ratio of 0.59. The stock has a market capitalization of $9.01 billion, a P/E ratio of -106.01 and a beta of 1.05. The firm’s fifty day simple moving average is $83.49 and its two-hundred day simple moving average is $84.35. Elastic has a 12 month low of $70.14 and a 12 month high of $118.84.

Elastic (NYSE:ESTC) last released its quarterly earnings data on Thursday, August 28th. The company reported ($0.08) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.50). The company had revenue of $415.29 million for the quarter, compared to the consensus estimate of $397.13 million. Elastic had a negative return on equity of 1.68% and a negative net margin of 5.38%.Elastic’s revenue for the quarter was up 19.5% compared to the same quarter last year. During the same period last 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. As a group, analysts predict that Elastic will post -0.77 EPS for the current year.

Elastic declared that its Board of Directors has authorized a stock buyback plan 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. Shares repurchase plans are often an indication that the company’s board believes its shares are undervalued.

Insiders Place Their Bets

In related news, CRO Mark Eugene Dodds sold 5,037 shares of the firm’s stock in a transaction dated Tuesday, September 9th. The shares were sold at an average price of $90.12, for a total value of $453,934.44. Following the transaction, the executive owned 167,284 shares of the company’s stock, valued at approximately $15,075,634.08. This trade represents a 2.92% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CTO Shay Banon sold 104,326 shares of the stock in a transaction dated Tuesday, September 9th. The shares were sold at an average price of $90.34, for a total transaction of $9,424,810.84. Following the completion of the sale, the chief technology officer owned 4,363,780 shares of the company’s stock, valued at approximately $394,223,885.20. This trade represents a 2.33% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 350,792 shares of company stock worth $30,978,369 in the last 90 days. Company insiders own 12.70% of the company’s stock.

Institutional Investors Weigh In On Elastic

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Cloud Capital Management LLC purchased a new stake in Elastic in the 1st quarter valued at about $25,000. Signaturefd LLC increased its stake in Elastic by 53.7% in the 1st quarter. Signaturefd LLC now owns 335 shares of the company’s stock valued at $30,000 after buying an additional 117 shares during the last quarter. Geneos Wealth Management Inc. purchased a new stake in Elastic in the 2nd quarter valued at about $31,000. North Capital Inc. purchased a new stake in Elastic in the 1st quarter valued at about $37,000. Finally, Huntington National Bank increased its stake in Elastic by 97.5% in the 2nd quarter. Huntington National Bank now owns 468 shares of the company’s stock valued at $39,000 after buying an additional 231 shares during the last quarter. Hedge funds and other institutional investors own 97.03% of the company’s stock.

About Elastic

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.