Elastic N.V. (NYSE:ESTC) Receives $82.19 Average Target Price from Brokerages

Shares of Elastic N.V. (NYSE:ESTC) have been assigned a consensus recommendation of “Moderate Buy” from the thirty brokerages that are presently covering the firm, MarketBeat reports. Thirteen analysts have rated the stock with a hold recommendation and seventeen have issued a buy recommendation on the company. The average 1-year price target among analysts that have covered the stock in the last year is $83.4074.

Several analysts have weighed in on ESTC shares. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $59.00 price objective on shares of Elastic in a research report on Thursday, June 25th. Guggenheim restated a “buy” rating and issued a $106.00 target price on shares of Elastic in a research note on Wednesday. Scotiabank dropped their price target on Elastic from $61.00 to $58.00 and set a “sector perform” rating on the stock in a research report on Friday, May 29th. Wall Street Zen cut Elastic from a “buy” rating to a “hold” rating in a research note on Saturday, June 13th. Finally, UBS Group reaffirmed a “buy” rating and issued a $85.00 price target on shares of Elastic in a research note on Friday, May 29th.

Elastic Stock Up 0.0%

Shares of Elastic stock opened at $85.91 on Wednesday. The company has a current ratio of 1.68, a quick ratio of 1.68 and a debt-to-equity ratio of 0.45. Elastic has a 12-month low of $42.05 and a 12-month high of $96.07. The company has a market cap of $8.93 billion, a P/E ratio of 24.55, a PEG ratio of 21.53 and a beta of 0.98. The company’s fifty day simple moving average is $65.70 and its two-hundred day simple moving average is $58.18.

Elastic (NYSE:ESTC) last announced its quarterly earnings results on Thursday, May 28th. The company reported $0.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.56 by $0.05. Elastic had a net margin of 21.14% and a negative return on equity of 1.82%. The company had revenue of $450.68 million for the quarter, compared to analysts’ expectations of $446.66 million. During the same quarter in the previous year, the company earned $0.47 earnings per share. Elastic’s quarterly revenue was up 16.0% on a year-over-year basis. Elastic has set its FY 2027 guidance at 3.210-3.290 EPS and its Q1 2027 guidance at 0.570-0.590 EPS. Research analysts anticipate that Elastic will post 0.24 EPS for the current year.

Insider Activity

In related news, CTO Shay Banon sold 9,288 shares of the business’s stock in a transaction dated Tuesday, June 9th. The shares were sold at an average price of $60.61, for a total transaction of $562,945.68. Following the sale, the chief technology officer owned 4,417,140 shares of the company’s stock, valued at $267,722,855.40. The trade was a 0.21% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at 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 dated Tuesday, June 9th. The stock was sold at an average price of $60.61, for a total transaction of $574,885.85. Following the completion of the sale, the insider owned 128,439 shares in the company, valued at approximately $7,784,687.79. This trade represents a 6.88% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last quarter, insiders have sold 110,099 shares of company stock worth $6,673,100. 12.70% of the stock is currently owned by corporate insiders.

Institutional Trading of Elastic

Hedge funds have recently made changes to their positions in the stock. 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 first quarter worth $28,000. Geneos Wealth Management Inc. bought a new position in shares of Elastic during the second quarter valued at $31,000. Activest Wealth Management increased its holdings in shares of Elastic by 3,181.2% during the fourth quarter. Activest Wealth Management now owns 525 shares of the company’s stock valued at $40,000 after acquiring an additional 509 shares in the last quarter. Finally, Harbor Investment Advisory LLC purchased a new position in shares of Elastic in the 2nd quarter worth about $42,000. 97.03% of the stock is owned by institutional investors.

Key Elastic News

Here are the key news stories impacting Elastic this week:

• Positive Sentiment: JPMorgan raised its price target on Elastic from $80 to $93 and upgraded its stance to “overweight,” implying further upside from the current trading level. Benzinga report on JPMorgan’s Elastic price-target increase
• Positive Sentiment: Truist also increased its target, lifting it from $80 to $100 while maintaining a “buy” rating. The higher target reflects stronger analyst confidence in Elastic’s growth prospects. Benzinga report on Truist’s Elastic price-target increase
• Positive Sentiment: Guggenheim awarded Elastic a “buy” rating, adding another favorable analyst view and reinforcing the constructive sentiment around the software company. Elastic earns Buy Rating from Guggenheim
• Positive Sentiment: A Zacks analysis characterized Elastic as a strong growth stock, highlighting its appeal to growth, value, and momentum investors. Why Elastic is a strong growth stock
• Neutral Sentiment: Elastic is scheduled to report quarterly results on Thursday. The release could provide a near-term catalyst, particularly through its outlook for cloud demand, revenue growth, and profitability. Elastic quarterly earnings announcement
• Negative Sentiment: A Zacks preview warned that first-quarter earnings are expected to decline and said Elastic may lack the usual factors associated with a likely earnings beat. This creates downside risk if results or guidance disappoint investors. Elastic earnings preview

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.