Elastic (NYSE:ESTC) Now Covered by Analysts at The Goldman Sachs Group

The Goldman Sachs Group began coverage on shares of Elastic (NYSE:ESTC) in a research report released on Tuesday, MarketBeat Ratings reports. The brokerage issued a hold rating on the stock.

Other equities research analysts also recently issued research reports about the company. Guggenheim reissued a “buy” rating and set a $116.00 price objective on shares of Elastic in a report on Wednesday, February 18th. Piper Sandler cut their price objective on Elastic from $110.00 to $85.00 and set an “overweight” rating on the stock in a report on Friday, February 27th. Canaccord Genuity Group cut their target price on Elastic from $115.00 to $90.00 and set a “buy” rating on the stock in a report on Friday, February 27th. Truist Financial cut their target price on Elastic from $105.00 to $80.00 and set a “buy” rating on the stock in a report on Friday, February 27th. Finally, JPMorgan Chase & Co. cut their target price on Elastic from $113.00 to $98.00 and set an “overweight” rating on the stock in a report on Friday, February 20th. Seventeen equities research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $92.44.

Elastic Price Performance

Shares of NYSE ESTC traded up $0.65 during mid-day trading on Tuesday, hitting $49.04. 104,071 shares of the stock traded hands, compared to its average volume of 2,047,017. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.82 and a quick ratio of 1.82. Elastic has a twelve month low of $42.05 and a twelve month high of $96.07. The company has a market cap of $5.08 billion, a PE ratio of -61.03, a price-to-earnings-growth ratio of 62.90 and a beta of 1.03. The firm has a 50 day simple moving average of $52.75 and a two-hundred day simple moving average of $68.91.

Elastic (NYSE:ESTC) last released its quarterly earnings data on Thursday, February 26th. The company reported $0.73 earnings per share for the quarter, beating the consensus estimate of $0.64 by $0.09. Elastic had a negative return on equity of 2.34% and a negative net margin of 5.04%.The company had revenue of $449.88 million for the quarter, compared to the consensus estimate of $438.37 million. During the same quarter last year, the business posted $0.63 EPS. Elastic’s revenue for the quarter was up 17.7% on a year-over-year basis. Elastic has set its FY 2026 guidance at 2.500-2.540 EPS and its Q4 2026 guidance at 0.550-0.570 EPS. As a group, equities research analysts forecast that Elastic will post 0.04 EPS for the current fiscal year.

Insider Activity

In other Elastic news, CEO Ashutosh Kulkarni sold 17,756 shares of Elastic stock in a transaction dated Monday, March 9th. The stock was sold at an average price of $52.28, for a total transaction of $928,283.68. Following the transaction, the chief executive officer directly owned 409,145 shares of the company’s stock, valued at approximately $21,390,100.60. The trade was a 4.16% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CTO Shay Banon sold 4,283 shares of Elastic stock in a transaction dated Monday, March 9th. The stock was sold at an average price of $52.28, for a total value of $223,915.24. Following the transaction, the chief technology officer directly owned 4,354,945 shares in the company, valued at $227,676,524.60. The trade was a 0.10% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 38,188 shares of company stock worth $1,996,469. 12.70% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Elastic

Institutional investors and hedge funds have recently made changes to their positions in the business. Sound Income Strategies LLC bought a new stake in shares of Elastic during the 4th quarter valued at about $25,000. Geneos Wealth Management Inc. bought a new stake in shares of Elastic during the 2nd quarter valued at about $31,000. Activest Wealth Management boosted its position in shares of Elastic by 3,181.3% during the 4th quarter. Activest Wealth Management now owns 525 shares of the company’s stock valued at $40,000 after purchasing an additional 509 shares in the last quarter. Aster Capital Management DIFC Ltd boosted its position in shares of Elastic by 206.1% during the 4th quarter. Aster Capital Management DIFC Ltd now owns 551 shares of the company’s stock valued at $42,000 after purchasing an additional 371 shares in the last quarter. Finally, Quarry LP boosted its position in shares of Elastic by 16,200.0% during the 4th quarter. Quarry LP now owns 652 shares of the company’s stock valued at $49,000 after purchasing an additional 648 shares in the last quarter. Institutional investors own 97.03% of the company’s stock.

About Elastic

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.