Brokerages Set Elastic N.V. (NYSE:ESTC) Target Price at $119.00

Elastic N.V. (NYSE:ESTC) has been given a consensus recommendation of “Moderate Buy” by the thirty-one brokerages that are currently covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $119.00.

A number of research analysts have issued reports on ESTC shares. Robert W. Baird increased their target price on shares of Elastic from $120.00 to $130.00 and gave the company an “outperform” rating in a report on Friday, October 10th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $130.00 target price on shares of Elastic in a report on Friday, August 29th. Needham & Company LLC reaffirmed a “hold” rating on shares of Elastic in a report on Friday, October 10th. Jefferies Financial Group increased their target price on shares of Elastic from $110.00 to $125.00 and gave the company a “buy” rating in a report on Friday, August 29th. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating on shares of Elastic in a report on Friday, August 29th.

Insider Buying and Selling at Elastic

In other news, CRO Mark Eugene Dodds sold 5,037 shares of the firm’s stock in a transaction that occurred on Tuesday, September 9th. The shares were sold at an average price of $90.12, for a total transaction of $453,934.44. Following the completion of the transaction, the executive directly owned 167,284 shares of the company’s stock, valued at $15,075,634.08. This trade represents a 2.92% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Ashutosh Kulkarni sold 19,622 shares of the firm’s stock in a transaction that occurred on Tuesday, September 9th. The stock was sold at an average price of $90.12, for a total transaction of $1,768,334.64. Following the transaction, the chief executive officer directly owned 457,314 shares of the company’s stock, valued at approximately $41,213,137.68. This trade represents a 4.11% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 352,042 shares of company stock worth $31,087,394. 12.70% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Cloud Capital Management LLC purchased a new position in shares of Elastic during the 1st quarter worth approximately $25,000. Signaturefd LLC boosted its position in Elastic by 53.7% during the first quarter. Signaturefd LLC now owns 335 shares of the company’s stock worth $30,000 after acquiring an additional 117 shares during the last quarter. Geneos Wealth Management Inc. acquired a new stake in Elastic during the second quarter worth approximately $31,000. North Capital Inc. acquired a new stake in Elastic during the first quarter worth approximately $37,000. Finally, Huntington National Bank boosted its position in Elastic by 97.5% during the second quarter. Huntington National Bank now owns 468 shares of the company’s stock worth $39,000 after acquiring an additional 231 shares during the last quarter. 97.03% of the stock is owned by hedge funds and other institutional investors.

Elastic Price Performance

Shares of NYSE:ESTC opened at $86.40 on Thursday. The company has a quick ratio of 2.09, a current ratio of 2.09 and a debt-to-equity ratio of 0.59. The company has a market cap of $9.18 billion, a P/E ratio of -107.99 and a beta of 1.05. Elastic has a 52 week low of $70.14 and a 52 week high of $118.84. The company has a 50-day moving average price of $85.43 and a 200 day moving average price of $84.65.

Elastic (NYSE:ESTC) last announced its quarterly earnings data 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 during the quarter, compared to analyst estimates of $397.13 million. Elastic had a negative net margin of 5.38% and a negative return on equity of 1.68%. Elastic’s revenue for the quarter was up 19.5% on a year-over-year basis. During the same quarter in the previous year, the business 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. Research analysts predict that Elastic will post -0.77 earnings per share for the current year.

Elastic declared that its Board of Directors has initiated a share buyback plan on Thursday, October 9th that authorizes the company to repurchase $0.00 in shares. This repurchase authorization authorizes the company to repurchase shares of its stock through open market purchases. Shares repurchase plans are typically an indication that the company’s management believes its stock is undervalued.

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.