Analysts Set Elastic N.V. (NYSE:ESTC) Target Price at $96.52

Shares of Elastic N.V. (NYSE:ESTC) have earned a consensus recommendation of “Moderate Buy” from the twenty-nine brokerages that are presently covering the company, MarketBeat reports. Thirteen investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $96.52.

A number of equities analysts have weighed in on the company. Canaccord Genuity Group boosted their price target on Elastic from $80.00 to $120.00 and gave the stock a “buy” rating in a research report on Friday, August 28th. Royal Bank Of Canada lifted their target price on Elastic from $70.00 to $87.00 and gave the stock an “outperform” rating in a research note on Friday, August 14th. Piper Sandler reissued a “hold” rating on shares of Elastic in a report on Friday, August 28th. Oppenheimer boosted their target price on Elastic from $100.00 to $118.00 and gave the stock an “outperform” rating in a report on Friday, August 28th. Finally, Scotiabank increased their price target on Elastic from $58.00 to $84.00 and gave the company a “sector perform” rating in a research note on Friday, August 28th.

Insider Buying and Selling at Elastic

In other news, insider Carolyn Herzog sold 10,000 shares of Elastic stock in a transaction that occurred on Tuesday, September 1st. The shares were sold at an average price of $93.67, for a total value of $936,700.00. Following the completion of the sale, the insider directly owned 118,439 shares in the company, valued at approximately $11,094,181.13. The trade was a 7.79% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CTO Shay Banon sold 200,000 shares of the business’s stock in a transaction that occurred on Monday, August 31st. The shares were sold at an average price of $96.47, for a total value of $19,294,000.00. Following the completion of the sale, the chief technology officer owned 1,854,978 shares of the company’s stock, valued at approximately $178,949,727.66. This trade represents a 9.73% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 1,075,641 shares of company stock worth $98,430,566 over the last ninety days. Insiders own 12.70% of the company’s stock.

Hedge Funds Weigh In On Elastic

A number of hedge funds have recently added to or reduced their stakes in the stock. Bessemer Group Inc. acquired a new stake in shares of Elastic during the 1st quarter worth $25,000. Basecamp Wealth Advisors LLC acquired a new stake in Elastic during the first quarter worth about $28,000. Harbor Investment Advisory LLC bought a new position in Elastic in the 2nd quarter valued at about $42,000. Root Financial Partners LLC increased its holdings in Elastic by 2,976.7% in the 1st quarter. Root Financial Partners LLC now owns 923 shares of the company’s stock valued at $46,000 after buying an additional 893 shares during the period. Finally, Nomura Asset Management Co. Ltd. raised its position in shares of Elastic by 111.1% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 950 shares of the company’s stock valued at $72,000 after buying an additional 500 shares in the last quarter. Institutional investors own 97.03% of the company’s stock.

Elastic Stock Performance

NYSE ESTC opened at $86.91 on Friday. The company has a current ratio of 1.81, a quick ratio of 1.81 and a debt-to-equity ratio of 0.44. The firm’s fifty day moving average price is $77.40 and its two-hundred day moving average price is $62.12. Elastic has a 1 year low of $42.05 and a 1 year high of $108.00. The firm has a market capitalization of $9.12 billion, a P/E ratio of 24.34, a price-to-earnings-growth ratio of 7.30 and a beta of 1.03.

Elastic (NYSE:ESTC) last announced its quarterly earnings data on Thursday, August 27th. The company reported $0.70 EPS for the quarter, beating analysts’ consensus estimates of $0.58 by $0.12. The company had revenue of $478.11 million during the quarter, compared to the consensus estimate of $469.75 million. Elastic had a net margin of 20.84% and a negative return on equity of 0.35%. The company’s quarterly revenue was up 15.2% on a year-over-year basis. During the same quarter last year, the firm posted $0.60 EPS. Elastic has set its FY 2027 guidance at 3.290-3.370 EPS and its Q2 2027 guidance at 0.800-0.820 EPS. As a group, research analysts anticipate that Elastic will post 0.65 EPS for the current year.

About Elastic

Elastic N.V. develops search, observability and security software for organizations that need to find, analyze and act on data. Its core technology, Elasticsearch, is a distributed search and analytics engine that can process structured and unstructured information from applications, websites, logs and other sources.

The company offers its platform through Elastic Cloud, a managed cloud service available across major public-cloud environments, as well as through self-managed deployments.