Elastic (NYSE:ESTC) Price Target Lowered to $105.00 at Jefferies Financial Group

Elastic (NYSE:ESTC) had its price objective cut by Jefferies Financial Group from $125.00 to $105.00 in a report released on Friday morning,Benzinga reports. They currently have a buy rating on the stock.

Several other analysts have also recently issued reports on the stock. Royal Bank Of Canada decreased their target price on shares of Elastic from $125.00 to $115.00 and set an “outperform” rating on the stock in a research report on Friday. Wall Street Zen raised Elastic from a “hold” rating to a “buy” rating in a research report on Saturday, October 11th. UBS Group reduced their price objective on shares of Elastic from $125.00 to $110.00 and set a “buy” rating for the company in a research note on Friday. Weiss Ratings reissued a “sell (d)” rating on shares of Elastic in a report on Wednesday, October 8th. Finally, Wedbush reduced their price objective on Elastic from $110.00 to $90.00 and set an “outperform” rating for the company in a research note on Friday. Sixteen investment analysts have rated the stock with a Buy rating, twelve have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $108.71.

Elastic Stock Down 14.5%

Shares of Elastic stock traded down $11.92 during trading on Friday, hitting $70.16. The company’s stock had a trading volume of 8,915,733 shares, compared to its average volume of 1,585,240. The company has a fifty day simple moving average of $86.47 and a two-hundred day simple moving average of $85.47. The company has a debt-to-equity ratio of 0.59, a quick ratio of 2.09 and a current ratio of 2.09. The company has a market capitalization of $7.46 billion, a PE ratio of -68.12 and a beta of 1.04. Elastic has a 52 week low of $68.78 and a 52 week high of $118.84.

Elastic (NYSE:ESTC) last released its quarterly earnings results 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). Elastic had a negative net margin of 6.79% and a negative return on equity of 2.01%. The firm had revenue of $415.29 million for the quarter, compared to the consensus estimate of $397.13 million. During the same quarter in the prior year, the firm earned $0.35 earnings per share. The company’s revenue for the quarter was up 19.5% compared to the same quarter last year. Elastic has set its FY 2026 guidance at 2.290-2.350 EPS. Q2 2026 guidance at 0.560-0.580 EPS. Equities research analysts predict that Elastic will post -0.77 earnings per share for the current year.

Elastic declared that its board has approved a share repurchase program on Thursday, October 9th that permits the company to buyback $0.00 in outstanding shares. This buyback authorization permits the company to purchase shares of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s leadership believes its shares are undervalued.

Insider Activity at Elastic

In other Elastic news, insider Carolyn Herzog sold 5,143 shares of the business’s stock in a transaction on Tuesday, September 9th. The shares were sold at an average price of $90.12, for a total value of $463,487.16. Following the completion of the transaction, the insider owned 94,677 shares in the company, valued at $8,532,291.24. The trade was a 5.15% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CAO Jane E. Bone sold 1,250 shares of the company’s stock in a transaction that occurred on Monday, October 13th. The stock was sold at an average price of $87.22, for a total transaction of $109,025.00. Following the sale, the chief accounting officer owned 37,633 shares in the company, valued at $3,282,350.26. The trade was a 3.21% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 352,042 shares of company stock worth $31,087,394 over the last 90 days. 12.70% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Elastic

Several large investors have recently bought and sold shares of the business. Geneos Wealth Management Inc. purchased a new stake in shares of Elastic in the second quarter valued at about $31,000. Smartleaf Asset Management LLC increased its position in Elastic by 53.7% in the 1st quarter. Smartleaf Asset Management LLC now owns 435 shares of the company’s stock valued at $40,000 after acquiring an additional 152 shares during the period. Huntington National Bank raised its stake in Elastic by 97.5% during the 2nd quarter. Huntington National Bank now owns 468 shares of the company’s stock valued at $39,000 after acquiring an additional 231 shares during the last quarter. Plato Investment Management Ltd acquired a new stake in Elastic during the 2nd quarter worth approximately $40,000. Finally, Promus Capital LLC acquired a new stake in Elastic during the 2nd quarter worth approximately $45,000. Hedge funds and other institutional investors own 97.03% of the company’s stock.

Elastic Company Profile

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.