Elastic (NYSE:ESTC) Stock Price Expected to Rise, DA Davidson Analyst Says

Elastic (NYSE:ESTC) had its price objective boosted by research analysts at DA Davidson from $60.00 to $80.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. DA Davidson’s target price would suggest a potential upside of 0.01% from the stock’s current price.

Several other equities analysts have also commented on ESTC. Barclays increased their target price on shares of Elastic from $68.00 to $94.00 and gave the company an “overweight” rating in a report on Monday. Morgan Stanley downgraded Elastic from an “overweight” rating to an “equal weight” rating and decreased their price objective for the stock from $73.00 to $66.00 in a report on Tuesday, July 21st. Rosenblatt Securities restated a “buy” rating and set a $83.00 target price on shares of Elastic in a report on Wednesday. Weiss Ratings upgraded Elastic from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday, July 15th. Finally, Wells Fargo & Company boosted their price objective on Elastic from $60.00 to $80.00 and gave the company an “equal weight” rating in a research report on Tuesday. Seventeen analysts have rated the stock with a Buy rating and thirteen have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $87.41.

Elastic Price Performance

ESTC stock traded down $0.41 during mid-day trading on Wednesday, hitting $79.99. 230,662 shares of the stock were exchanged, compared to its average volume of 2,057,579. The business has a fifty day moving average price of $66.52 and a 200 day moving average price of $58.43. Elastic has a 12 month low of $42.05 and a 12 month high of $96.07. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.68 and a quick ratio of 1.68. The stock has a market capitalization of $8.31 billion, a price-to-earnings ratio of 22.83, a PEG ratio of 20.87 and a beta of 0.98.

Elastic (NYSE:ESTC) last announced its quarterly earnings data 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. The company had revenue of $450.68 million for the quarter, compared to analysts’ expectations of $446.66 million. Elastic had a negative return on equity of 1.82% and a net margin of 21.14%.Elastic’s revenue for the quarter was up 16.0% compared to the same quarter last year. During the same period last year, the firm posted $0.47 EPS. 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 anticipate that Elastic will post 0.24 EPS for the current year.

Insider Buying and Selling

In other Elastic news, CEO Ashutosh Kulkarni sold 40,373 shares of Elastic stock in a transaction that occurred on Tuesday, June 9th. The stock was sold at an average price of $60.61, for a total transaction of $2,447,007.53. Following the sale, the chief executive officer directly owned 628,752 shares of the company’s stock, valued at approximately $38,108,658.72. The trade was a 6.03% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Carolyn Herzog sold 9,485 shares of the company’s stock in a transaction that occurred on Tuesday, June 9th. The stock was sold at an average price of $60.61, for a total value of $574,885.85. Following the transaction, the insider owned 128,439 shares in the company, valued at $7,784,687.79. This trade represents a 6.88% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 110,099 shares of company stock valued at $6,673,100 over the last quarter. 12.70% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Elastic

Several hedge funds have recently made changes to their positions in ESTC. Bessemer Group Inc. purchased a new position in Elastic during the first quarter valued at $25,000. Basecamp Wealth Advisors LLC purchased a new stake in shares of Elastic in the 1st quarter worth about $28,000. Geneos Wealth Management Inc. bought a new position in shares of Elastic in the 2nd quarter worth about $31,000. Activest Wealth Management increased its stake in shares of Elastic by 3,181.2% in the 4th quarter. Activest Wealth Management now owns 525 shares of the company’s stock worth $40,000 after acquiring an additional 509 shares in the last quarter. Finally, Harbor Investment Advisory LLC purchased a new position in Elastic during the 2nd quarter valued at about $42,000. 97.03% of the stock is currently owned by institutional investors.

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.