Guggenheim Reaffirms “Buy” Rating for Elastic (NYSE:ESTC)

Elastic (NYSE:ESTC)‘s stock had its “buy” rating reaffirmed by analysts at Guggenheim in a note issued to investors on Wednesday,Benzinga reports. They presently have a $106.00 target price on the stock. Guggenheim’s price objective would indicate a potential upside of 23.80% from the stock’s current price.

ESTC has been the topic of a number of other research reports. Piper Sandler restated an “overweight” rating on shares of Elastic in a research note on Friday, June 26th. William Blair assumed coverage on shares of Elastic in a research report on Friday, May 22nd. They set an “outperform” rating for the company. Zacks Research raised shares of Elastic from a “strong sell” rating to a “hold” rating in a report on Friday, June 26th. Jefferies Financial Group boosted their target price on shares of Elastic from $75.00 to $100.00 and gave the company a “buy” rating in a research report on Sunday. Finally, UBS Group reiterated a “buy” rating and set a $85.00 price target on shares of Elastic in a research report on Friday, May 29th. Seventeen analysts have rated the stock with a Buy rating and thirteen have issued a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $82.19.

Elastic Trading Up 0.7%

Shares of Elastic stock opened at $85.62 on Wednesday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.68 and a current ratio of 1.68. The firm has a 50-day moving average of $64.14 and a 200-day moving average of $57.71. Elastic has a 52-week low of $42.05 and a 52-week high of $96.07. The stock has a market cap of $8.90 billion, a PE ratio of 24.18, a PEG ratio of 19.62 and a beta of 0.98.

Elastic (NYSE:ESTC) last issued its quarterly earnings data 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 net margin of 21.14% and a negative return on equity of 1.82%. The business had revenue of $450.68 million during the quarter, compared to analysts’ expectations of $446.66 million. During the same quarter in the previous year, the company earned $0.47 EPS. The business’s 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. As a group, sell-side analysts forecast that Elastic will post 0.26 EPS for the current year.

Insider Buying and Selling

In other Elastic news, CTO Shay Banon sold 9,288 shares of the business’s stock in a transaction 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 sale, the chief technology officer owned 4,417,140 shares of the company’s stock, valued at approximately $267,722,855.40. The trade was a 0.21% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CRO Mark Eugene Dodds sold 18,439 shares of the company’s stock in a transaction on Tuesday, June 9th. The stock was sold at an average price of $60.61, for a total transaction of $1,117,587.79. Following the transaction, the executive owned 298,211 shares of the company’s stock, valued at $18,074,568.71. This trade represents a 5.82% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 110,099 shares of company stock worth $6,673,100 in the last quarter. Corporate insiders own 12.70% of the company’s stock.

Institutional Investors Weigh In On Elastic

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Orion Porfolio Solutions LLC lifted 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 purchasing an additional 118 shares during the last quarter. Northwestern Mutual Wealth Management Co. increased its position in shares of Elastic by 17.3% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,159 shares of the company’s stock valued at $98,000 after purchasing an additional 171 shares during the last quarter. Public Employees Retirement System of Ohio raised its holdings in shares of Elastic by 0.6% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 28,323 shares of the company’s stock valued at $2,393,000 after buying an additional 175 shares in the last quarter. California State Teachers Retirement System raised its holdings in shares of Elastic by 0.3% during the 2nd quarter. California State Teachers Retirement System now owns 83,403 shares of the company’s stock valued at $7,033,000 after buying an additional 219 shares in the last quarter. Finally, 180 Wealth Advisors LLC lifted its position in Elastic by 4.6% in the 2nd quarter. 180 Wealth Advisors LLC now owns 6,027 shares of the company’s stock worth $344,000 after buying an additional 263 shares during the last quarter. 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.