Citigroup Increases Elastic (NYSE:ESTC) Price Target to $104.00

Elastic (NYSE:ESTC) had its target price hoisted by research analysts at Citigroup from $95.00 to $104.00 in a research note issued on Friday,Benzinga reports. The firm currently has a “buy” rating on the stock. Citigroup’s price objective would suggest a potential upside of 62.76% from the stock’s previous close.

Several other equities research analysts have also recently weighed in on ESTC. The Goldman Sachs Group started coverage on Elastic in a research note on Tuesday, April 21st. They issued a “neutral” rating and a $50.00 price target for the company. Rosenblatt Securities reissued a “buy” rating and issued a $110.00 price target on shares of Elastic in a research note on Tuesday. Wolfe Research set a $55.00 price target on Elastic in a research note on Friday. Cantor Fitzgerald decreased their price target on Elastic from $66.00 to $59.00 and set a “neutral” rating for the company in a research note on Tuesday. Finally, Scotiabank decreased their price target on Elastic from $61.00 to $58.00 and set a “sector perform” rating for the company in a research note on Friday. Eighteen 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’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $81.44.

Elastic Trading Up 10.9%

Elastic stock traded up $6.29 during trading hours on Friday, hitting $63.90. The stock had a trading volume of 3,959,012 shares, compared to its average volume of 2,053,171. The company has a quick ratio of 1.82, a current ratio of 1.82 and a debt-to-equity ratio of 0.72. The stock has a market cap of $6.61 billion, a price-to-earnings ratio of -79.66, a P/E/G ratio of 101.99 and a beta of 0.88. Elastic has a one year low of $42.05 and a one year high of $96.07. The business’s 50 day simple moving average is $50.20 and its 200-day simple moving average is $62.82.

Elastic (NYSE:ESTC) last posted its earnings results on Thursday, May 28th. The company reported $0.61 EPS for the quarter, beating the consensus estimate of $0.56 by $0.05. The firm had revenue of $450.68 million during the quarter, compared to the consensus estimate of $446.66 million. Elastic had a negative return on equity of 2.34% and a negative net margin of 5.04%.The business’s quarterly revenue was up 16.0% on a year-over-year basis. During the same period last year, the company earned $0.47 earnings per share. Elastic has set its FY 2027 guidance at 3.210-3.290 EPS and its Q1 2027 guidance at 0.570-0.590 EPS. On average, equities analysts predict that Elastic will post 0.04 EPS for the current fiscal year.

Insider Buying and Selling at Elastic

In related news, insider Carolyn Herzog sold 3,989 shares of the company’s stock in a transaction that occurred on Monday, March 9th. The shares were sold at an average price of $52.28, for a total value of $208,544.92. Following the completion of the sale, the insider owned 85,335 shares in the company, valued at approximately $4,461,313.80. This represents a 4.47% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CTO Shay Banon sold 4,283 shares of the company’s stock in a transaction that occurred on Monday, March 9th. The shares were sold at an average price of $52.28, for a total transaction of $223,915.24. Following the completion of the sale, the chief technology officer owned 4,354,945 shares of the company’s stock, valued at approximately $227,676,524.60. This trade represents a 0.10% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 38,188 shares of company stock valued at $1,996,469. Corporate insiders own 12.70% of the company’s stock.

Institutional Investors Weigh In On Elastic

Hedge funds have recently made changes to their positions in the company. Orion Porfolio Solutions LLC grew its stake in Elastic by 1.4% during the third quarter. Orion Porfolio Solutions LLC now owns 8,593 shares of the company’s stock worth $726,000 after buying an additional 118 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its stake in Elastic by 17.3% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,159 shares of the company’s stock worth $98,000 after buying an additional 171 shares in the last quarter. Public Employees Retirement System of Ohio grew its stake in Elastic by 0.6% during the third quarter. Public Employees Retirement System of Ohio now owns 28,323 shares of the company’s stock worth $2,393,000 after buying an additional 175 shares in the last quarter. Jones Financial Companies Lllp grew its stake in Elastic by 6.9% during the third quarter. Jones Financial Companies Lllp now owns 3,020 shares of the company’s stock worth $260,000 after buying an additional 194 shares in the last quarter. Finally, California State Teachers Retirement System grew its stake in Elastic by 0.3% during the second quarter. California State Teachers Retirement System now owns 83,403 shares of the company’s stock worth $7,033,000 after buying an additional 219 shares in the last quarter. Hedge funds and other institutional investors own 97.03% of the company’s stock.

Key Stories Impacting Elastic

Here are the key news stories impacting Elastic this week:

• Positive Sentiment: Elastic beat fiscal Q4 estimates, reporting adjusted EPS of $0.61 versus $0.56 expected and revenue of $450.7 million versus $446.7 million expected, with sales up 16% year over year. Management also highlighted subscription growth, cloud expansion, and continued enterprise traction. Elastic Reports Fourth Quarter and Fiscal 2026 Financial Results
• Positive Sentiment: The company raised guidance for both fiscal 2027 and first-quarter fiscal 2027, with EPS and revenue outlooks coming in above consensus, which supports the case for continued growth and profitability improvement. ESTC Q4 Earnings Surpass Expectations, Revenues Increase Y/Y
• Neutral Sentiment: Several analysts reiterated constructive views after the print, including “outperform” and “buy” ratings, even as Wedbush and Oppenheimer trimmed price targets, reflecting confidence in the business but a reset in valuation expectations.
• Negative Sentiment: Some investors appear focused on slowing growth expectations in fiscal 2027 and the market’s reaction suggests the stock may be vulnerable if execution is solid but not enough to justify a higher multiple.

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.