Brokerages Set Elastic N.V. (NYSE:ESTC) Target Price at $79.04

Elastic N.V. (NYSE:ESTC) has been assigned a consensus recommendation of “Moderate Buy” from the thirty analysts that are covering the company, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and eighteen have given a buy rating to the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $79.0370.

Several equities research analysts have issued reports on the stock. Scotiabank lowered their price objective on shares of Elastic from $61.00 to $58.00 and set a “sector perform” rating for the company in a research report on Friday, May 29th. Jefferies Financial Group dropped their price target on Elastic from $95.00 to $75.00 and set a “buy” rating on the stock in a research report on Friday, May 29th. Rothschild & Co Redburn initiated coverage on Elastic in a research note on Thursday, April 23rd. They set a “neutral” rating and a $49.00 price target on the stock. Cantor Fitzgerald restated a “neutral” rating and issued a $59.00 price objective on shares of Elastic in a report on Thursday, June 25th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Elastic from $99.00 to $80.00 and set an “overweight” rating for the company in a research note on Wednesday, May 27th.

Insiders Place Their Bets

In other news, insider Carolyn Herzog sold 9,485 shares of the company’s stock in a transaction that occurred on Tuesday, June 9th. The shares were sold at an average price of $60.61, for a total value of $574,885.85. Following the completion of the sale, the insider owned 128,439 shares of the company’s stock, valued at approximately $7,784,687.79. This represents a 6.88% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CTO Shay Banon sold 9,288 shares of the stock in a transaction that occurred on Tuesday, June 9th. The shares were sold at an average price of $60.61, for a total transaction of $562,945.68. Following the transaction, the chief technology officer owned 4,417,140 shares in the company, valued at approximately $267,722,855.40. This represents a 0.21% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders have sold 110,099 shares of company stock worth $6,673,100. 12.70% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Sound Income Strategies LLC purchased a new stake in shares of Elastic during the 4th quarter worth $25,000. Bessemer Group Inc. purchased a new position in Elastic in the first quarter valued at about $25,000. Basecamp Wealth Advisors LLC bought a new position in Elastic in the first quarter worth about $28,000. Geneos Wealth Management Inc. bought a new position in Elastic in the second quarter worth about $31,000. Finally, Activest Wealth Management lifted its position 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 buying an additional 509 shares during the last quarter. 97.03% of the stock is currently owned by hedge funds and other institutional investors.

Elastic Price Performance

Elastic stock opened at $57.86 on Tuesday. Elastic has a 12-month low of $42.05 and a 12-month high of $96.07. The company has a current ratio of 1.68, a quick ratio of 1.68 and a debt-to-equity ratio of 0.45. The firm has a 50-day moving average price of $55.89 and a 200-day moving average price of $59.51. The firm has a market capitalization of $6.01 billion, a PE ratio of 16.53, a price-to-earnings-growth ratio of 14.92 and a beta of 1.00.

Elastic (NYSE:ESTC) last issued its quarterly earnings results on Thursday, May 28th. The company reported $0.61 earnings per share for the quarter, topping the consensus estimate of $0.56 by $0.05. Elastic had a negative return on equity of 1.82% and a net margin of 21.14%.The firm had revenue of $450.68 million for the quarter, compared to the consensus estimate of $446.66 million. During the same period in the prior year, the business posted $0.47 earnings per share. The company’s revenue for the quarter 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. As a group, equities research analysts forecast that Elastic will post 0.23 EPS for the current year.

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.