Brokerages Set Elastic N.V. (NYSE:ESTC) Target Price at $96.52

Shares of Elastic N.V. (NYSE:ESTC) have been given an average rating of “Moderate Buy” by the twenty-nine research firms that are currently covering the stock, MarketBeat reports. Thirteen research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating on the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $96.52.

A number of brokerages recently issued reports on ESTC. Zacks Research raised Elastic from a “hold” rating to a “strong-buy” rating in a research report on Friday, August 28th. Wells Fargo & Company lifted their price target on shares of Elastic from $60.00 to $80.00 and gave the company an “equal weight” rating in a research report on Tuesday, August 25th. Oppenheimer boosted their price target on shares of Elastic from $100.00 to $118.00 and gave the company an “outperform” rating in a research note on Friday, August 28th. Guggenheim upped their price objective on shares of Elastic from $106.00 to $120.00 and gave the stock a “buy” rating in a report on Friday, August 28th. Finally, Truist Financial increased their price objective on shares of Elastic from $80.00 to $100.00 and gave the stock a “buy” rating in a research report on Thursday, August 20th.

Elastic Price Performance

Elastic stock opened at $88.97 on Friday. The company has a current ratio of 1.81, a quick ratio of 1.81 and a debt-to-equity ratio of 0.44. The company has a 50-day moving average price of $76.87 and a 200 day moving average price of $61.95. Elastic has a 12-month low of $42.05 and a 12-month high of $108.00. The stock has a market cap of $9.34 billion, a P/E ratio of 24.92, a PEG ratio of 7.14 and a beta of 1.03.

Elastic (NYSE:ESTC) last announced its quarterly earnings results on Thursday, August 27th. The company reported $0.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.58 by $0.12. The business had revenue of $478.11 million during the quarter, compared to the consensus estimate of $469.75 million. Elastic had a net margin of 20.84% and a negative return on equity of 0.35%. The business’s revenue was up 15.2% compared to the same quarter last year. During the same quarter last year, the firm earned $0.60 EPS. Elastic has set its FY 2027 guidance at 3.290-3.370 EPS and its Q2 2027 guidance at 0.800-0.820 EPS. Sell-side analysts anticipate that Elastic will post 0.65 earnings per share for the current year.

Insiders Place Their Bets

In related news, CTO Shay Banon sold 84,207 shares of the business’s stock in a transaction on Monday, September 14th. The stock was sold at an average price of $84.64, for a total value of $7,127,280.48. Following the sale, the chief technology officer owned 3,910,563 shares in the company, valued at approximately $330,990,052.32. The trade was a 2.11% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Carolyn Herzog sold 5,485 shares of the stock in a transaction dated Wednesday, September 9th. The stock was sold at an average price of $87.78, for a total value of $481,473.30. Following the transaction, the insider directly owned 112,954 shares in the company, valued at approximately $9,915,102.12. The trade was a 4.63% decrease in their position. 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 three months, insiders sold 1,075,641 shares of company stock valued at $98,430,566. Insiders own 12.70% of the company’s stock.

Institutional Trading of Elastic

Several hedge funds have recently made changes to their positions in the business. Bessemer Group Inc. acquired a new position in shares of Elastic during the 1st quarter worth about $25,000. Basecamp Wealth Advisors LLC acquired a new position in Elastic in the first quarter valued at approximately $28,000. Harbor Investment Advisory LLC purchased a new position in shares of Elastic in the 2nd quarter valued at $42,000. Root Financial Partners LLC raised its stake in Elastic by 2,976.7% during the 1st quarter. Root Financial Partners LLC now owns 923 shares of the company’s stock worth $46,000 after acquiring an additional 893 shares in the last quarter. Finally, Nomura Asset Management Co. Ltd. lifted its position in Elastic by 111.1% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 950 shares of the company’s stock valued at $72,000 after acquiring an additional 500 shares during the last quarter. Institutional investors and hedge funds own 97.03% of the company’s stock.

About Elastic

Elastic N.V. develops search, observability and security software for organizations that need to find, analyze and act on data. Its core technology, Elasticsearch, is a distributed search and analytics engine that can process structured and unstructured information from applications, websites, logs and other sources.

The company offers its platform through Elastic Cloud, a managed cloud service available across major public-cloud environments, as well as through self-managed deployments.