Elastic (NYSE:ESTC) Price Target Cut to $100.00 by Analysts at Barclays

Elastic (NYSE:ESTC) had its price target dropped by stock analysts at Barclays from $107.00 to $100.00 in a research report issued on Monday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Barclays‘s target price indicates a potential upside of 30.43% from the company’s previous close.

ESTC has been the subject of several other reports. Wells Fargo & Company decreased their price objective on Elastic from $90.00 to $75.00 and set an “equal weight” rating for the company in a research report on Friday, November 21st. Royal Bank Of Canada reduced their price target on Elastic from $115.00 to $95.00 and set an “outperform” rating for the company in a research report on Monday, January 5th. JPMorgan Chase & Co. cut their price target on shares of Elastic from $120.00 to $113.00 and set an “overweight” rating on the stock in a research report on Friday, November 21st. Citigroup decreased their price objective on Elastic from $130.00 to $115.00 and set a “buy” rating for the company in a report on Monday, November 24th. Finally, Morgan Stanley decreased their price target on Elastic from $120.00 to $110.00 and set an “overweight” rating for the company in a research note on Friday, November 21st. Seventeen equities research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $105.71.

Elastic Trading Down 2.5%

Shares of ESTC traded down $1.95 during trading hours on Monday, hitting $76.67. 478,576 shares of the stock traded hands, compared to its average volume of 1,130,076. The business has a fifty day moving average of $78.91 and a 200-day moving average of $82.49. The company has a current ratio of 1.97, a quick ratio of 1.97 and a debt-to-equity ratio of 0.64. Elastic has a 1-year low of $68.10 and a 1-year high of $118.84. The firm has a market capitalization of $8.08 billion, a PE ratio of -74.42, a price-to-earnings-growth ratio of 311.82 and a beta of 0.92.

Elastic (NYSE:ESTC) last released its earnings results on Thursday, November 20th. The company reported $0.64 earnings per share for the quarter, beating the consensus estimate of $0.58 by $0.06. Elastic had a negative return on equity of 2.02% and a negative net margin of 6.79%.The firm had revenue of $423.48 million for the quarter, compared to analyst estimates of $418.27 million. During the same quarter in the prior year, the firm posted $0.59 earnings per share. The company’s quarterly revenue was up 15.9% on a year-over-year basis. Elastic has set its Q3 2026 guidance at 0.630-0.65 EPS. Analysts expect that Elastic will post -0.77 EPS for the current year.

Elastic declared that its Board of Directors has approved a stock buyback program on Thursday, October 9th that authorizes the company to buyback $0.00 in outstanding shares. This buyback authorization authorizes the company to repurchase shares of its stock through open market purchases. Shares buyback programs are generally a sign that the company’s management believes its shares are undervalued.

Insider Buying and Selling

In related news, insider Carolyn Herzog sold 5,353 shares of the business’s stock in a transaction on Tuesday, December 9th. The shares were sold at an average price of $75.05, for a total value of $401,742.65. Following the transaction, the insider owned 89,324 shares in the company, valued at $6,703,766.20. The trade was a 5.65% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Ken Exner sold 6,544 shares of the business’s stock in a transaction that occurred on Tuesday, December 9th. The shares were sold at an average price of $75.05, for a total value of $491,127.20. Following the completion of the transaction, the insider directly owned 227,038 shares in the company, valued at approximately $17,039,201.90. This trade represents a 2.80% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 60,641 shares of company stock valued at $4,545,682. Corporate insiders own 12.70% of the company’s stock.

Institutional Trading of Elastic

Institutional investors and hedge funds have recently made changes to their positions in the company. Geneos Wealth Management Inc. bought a new position in Elastic in the second quarter valued at $31,000. Huntington National Bank raised its holdings in shares of 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 buying an additional 231 shares in the last quarter. Plato Investment Management Ltd bought a new stake in Elastic in the 2nd quarter worth approximately $40,000. Promus Capital LLC purchased a new stake in Elastic in the second quarter worth approximately $45,000. Finally, True Wealth Design LLC grew its position in Elastic by 391.2% during the third quarter. True Wealth Design LLC now owns 673 shares of the company’s stock valued at $57,000 after acquiring an additional 536 shares during the last quarter. Hedge funds and other institutional investors own 97.03% of the company’s stock.

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.