Elastic (NYSE:ESTC) Price Target Raised to $93.00

Elastic (NYSE:ESTC) had its price objective increased by JPMorgan Chase & Co. from $80.00 to $93.00 in a research report released on Friday morning,Benzinga reports. The brokerage currently has an overweight rating on the stock.

Several other equities analysts have also commented on the company. Jefferies Financial Group upped their target price on Elastic from $75.00 to $100.00 and gave the company a “buy” rating in a research note on Sunday, August 16th. Oppenheimer raised their price target on Elastic from $75.00 to $100.00 and gave the stock an “outperform” rating in a research note on Thursday, August 13th. Wedbush decreased their price target on Elastic from $74.00 to $65.00 and set an “outperform” rating on the stock in a research note on Friday, May 29th. Guggenheim restated a “buy” rating and issued a $106.00 price target on shares of Elastic in a report on Wednesday, August 19th. Finally, DA Davidson dropped their price objective on shares of Elastic from $65.00 to $60.00 and set a “neutral” rating for the company in a research note on Friday, May 29th. Seventeen equities research analysts have rated the stock with a Buy rating and thirteen have given a Hold rating to the company. According to MarketBeat, Elastic presently has a consensus rating of “Moderate Buy” and an average target price of $83.41.

Elastic Stock Down 0.0%

ESTC stock opened at $85.91 on Friday. The stock has a market capitalization of $8.93 billion, a P/E ratio of 24.55, a PEG ratio of 21.54 and a beta of 0.98. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.68 and a current ratio of 1.68. Elastic has a one year low of $42.05 and a one year high of $96.07. The company has a 50 day moving average price of $65.70 and a two-hundred day moving average price of $58.13.

Elastic (NYSE:ESTC) last issued its quarterly earnings results on Thursday, May 28th. The company reported $0.61 earnings per share for the quarter, beating 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 company had revenue of $450.68 million during the quarter, compared to the consensus estimate of $446.66 million. During the same period in the previous year, the firm posted $0.47 EPS. Elastic’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 expect that Elastic will post 0.24 EPS for the current year.

Insider Activity at Elastic

In other news, CRO Mark Eugene Dodds sold 18,439 shares of Elastic stock in a transaction dated Tuesday, June 9th. The stock was sold at an average price of $60.61, for a total value of $1,117,587.79. Following the transaction, the executive directly owned 298,211 shares of the company’s stock, valued at $18,074,568.71. The trade was a 5.82% decrease in their position. The transaction was disclosed in a document filed 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, CAO Jane E. Bone sold 1,104 shares of the business’s stock in a transaction dated Tuesday, June 9th. The stock was sold at an average price of $60.61, for a total value of $66,913.44. Following the sale, the chief accounting officer owned 53,415 shares of the company’s stock, valued at $3,237,483.15. The trade was a 2.02% 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. Insiders sold a total of 110,099 shares of company stock valued at $6,673,100 over the last three months. Insiders own 12.70% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Focus Partners Wealth acquired a new stake in shares of Elastic in the first quarter worth $494,000. Northwestern Mutual Wealth Management Co. lifted its holdings 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 acquiring an additional 171 shares in the last quarter. Invesco Ltd. boosted its position in Elastic by 11.7% during the 2nd quarter. Invesco Ltd. now owns 95,332 shares of the company’s stock worth $8,039,000 after purchasing an additional 9,990 shares during the period. EverSource Wealth Advisors LLC boosted its position in Elastic by 400.0% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,110 shares of the company’s stock worth $178,000 after purchasing an additional 1,688 shares during the period. Finally, Cerity Partners LLC increased its holdings in Elastic by 24.7% in the 2nd quarter. Cerity Partners LLC now owns 30,545 shares of the company’s stock valued at $2,576,000 after purchasing an additional 6,056 shares in the last quarter. 97.03% of the stock is owned by institutional investors and hedge funds.

More 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

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.