Elastic (NYSE:ESTC) Stock Rating Reaffirmed as Neutral by Cantor Fitzgerald

Elastic (NYSE:ESTC)‘s stock had its “neutral” rating restated by equities researchers at Cantor Fitzgerald in a report released on Wednesday, MarketBeat.com reports. They presently have a $100.00 price target on the stock. Cantor Fitzgerald’s price target points to a potential upside of 12.40% from the stock’s previous close.

A number of other brokerages have also weighed in on ESTC. Stifel Nicolaus lifted their target price on shares of Elastic from $90.00 to $107.00 and gave the company a “buy” rating in a research note on Friday, August 28th. Oppenheimer lifted their target price 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. Weiss Ratings raised shares of Elastic from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday, July 15th. Citigroup lifted their target price on shares of Elastic from $104.00 to $128.00 and gave the company a “buy” rating in a research note on Friday, August 28th. Finally, Truist Financial lifted their price target on shares of Elastic from $80.00 to $100.00 and gave the company a “buy” rating in a research report on Thursday, August 20th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and thirteen have given a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $96.52.

Elastic Trading Up 1.2%

Shares of ESTC traded up $1.03 during trading hours on Wednesday, reaching $88.97. 1,600,481 shares of the company traded hands, compared to its average volume of 2,156,676. The company’s fifty day moving average price is $80.67 and its two-hundred day moving average price is $63.74. The company has a market capitalization of $9.34 billion, a price-to-earnings ratio of 24.92, a price-to-earnings-growth ratio of 7.40 and a beta of 1.03. The company has a quick ratio of 1.81, a current ratio of 1.81 and a debt-to-equity ratio of 0.44. Elastic has a 12 month low of $42.05 and a 12 month high of $108.00.

Elastic (NYSE:ESTC) last announced its earnings results on Thursday, August 27th. The company reported $0.70 earnings per share for the quarter, beating analysts’ consensus estimates of $0.58 by $0.12. The firm had revenue of $478.11 million for the quarter, compared to analyst estimates of $469.75 million. Elastic had a net margin of 20.84% and a negative return on equity of 0.35%. The company’s revenue for the quarter was up 15.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $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. Equities research analysts predict that Elastic will post 0.65 earnings per share for the current fiscal year.

Insider Activity at Elastic

In related news, CTO Shay Banon sold 200,000 shares of Elastic stock in a transaction dated Monday, August 31st. The shares were sold at an average price of $96.47, for a total transaction of $19,294,000.00. Following the completion of the transaction, the chief technology officer directly owned 1,854,978 shares of the company’s stock, valued at $178,949,727.66. This trade represents a 9.73% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Carolyn Herzog sold 10,000 shares of Elastic stock in a transaction dated Tuesday, September 1st. The shares were sold at an average price of $93.67, for a total transaction of $936,700.00. Following the transaction, the insider directly owned 118,439 shares of the company’s stock, valued at approximately $11,094,181.13. This trade represents a 7.79% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 1,075,641 shares of company stock valued at $98,430,566 in the last three months. Company insiders own 12.70% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the stock. Pictet Asset Management Holding SA raised its holdings in shares of Elastic by 43.2% during the first quarter. Pictet Asset Management Holding SA now owns 6,492,717 shares of the company’s stock valued at $324,550,000 after purchasing an additional 1,958,219 shares during the last quarter. First Trust Advisors LP increased its holdings in Elastic by 516.1% during the first quarter. First Trust Advisors LP now owns 2,627,636 shares of the company’s stock valued at $131,356,000 after buying an additional 2,201,140 shares during the last quarter. Geode Capital Management LLC increased its holdings in Elastic by 2.9% during the fourth quarter. Geode Capital Management LLC now owns 1,724,508 shares of the company’s stock valued at $130,124,000 after buying an additional 49,198 shares during the last quarter. Temasek Holdings Private Ltd increased its holdings in Elastic by 9.3% during the fourth quarter. Temasek Holdings Private Ltd now owns 1,294,465 shares of the company’s stock valued at $97,654,000 after buying an additional 109,608 shares during the last quarter. Finally, Panagora Asset Management Inc. increased its holdings in Elastic by 12.5% during the fourth quarter. Panagora Asset Management Inc. now owns 1,031,378 shares of the company’s stock valued at $77,807,000 after buying an additional 114,965 shares during the last quarter. 97.03% of the stock is owned by hedge funds and other institutional investors.

Elastic Company Profile

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.