Elastic (NYSE:ESTC) Price Target Lowered to $110.00 at Rosenblatt Securities

Elastic (NYSE:ESTC) had its price objective cut by Rosenblatt Securities from $130.00 to $110.00 in a research note published on Friday,Benzinga reports. They currently have a buy rating on the stock.

Several other equities analysts have also issued reports on ESTC. Morgan Stanley lowered their price target on Elastic from $120.00 to $110.00 and set an “overweight” rating for the company in a research report on Friday, November 21st. Stifel Nicolaus decreased their target price on shares of Elastic from $134.00 to $108.00 and set a “buy” rating for the company in a report on Friday, November 21st. Wells Fargo & Company dropped their target price on shares of Elastic from $90.00 to $75.00 and set an “equal weight” rating on the stock in a research note on Friday, November 21st. Royal Bank Of Canada reduced their price target on shares of Elastic from $115.00 to $95.00 and set an “outperform” rating for the company in a research report on Monday, January 5th. Finally, Truist Financial lowered their price objective on Elastic from $140.00 to $120.00 and set a “buy” rating on the stock in a research report on Wednesday, November 19th. Seventeen analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Elastic has an average rating of “Moderate Buy” and a consensus price target of $104.88.

Elastic Price Performance

Shares of NYSE ESTC opened at $65.77 on Friday. The company has a 50 day simple moving average of $74.04 and a two-hundred day simple moving average of $81.16. Elastic has a fifty-two week low of $65.39 and a fifty-two week high of $118.84. The company has a market capitalization of $6.93 billion, a price-to-earnings ratio of -63.85, a P/E/G ratio of 275.47 and a beta of 0.92. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.97 and a current ratio of 1.97.

Elastic (NYSE:ESTC) last posted its quarterly earnings results on Thursday, November 20th. The company reported $0.64 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.06. The company had revenue of $423.48 million for the quarter, compared to the consensus estimate of $418.27 million. Elastic had a negative return on equity of 2.02% and a negative net margin of 6.79%.The firm’s quarterly revenue was up 15.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.59 EPS. Elastic has set its Q3 2026 guidance at 0.630-0.65 EPS. Analysts expect that Elastic will post -0.77 EPS for the current fiscal year.

Elastic declared that its board has authorized a stock repurchase plan on Thursday, October 9th that permits the company to buyback $0.00 in outstanding shares. This buyback authorization permits the company to purchase shares of its stock through open market purchases. Shares buyback plans are generally a sign that the company’s board of directors believes its shares are undervalued.

Insider Buying and Selling

In related news, CTO Shay Banon sold 4,552 shares of Elastic stock in a transaction on Tuesday, December 9th. The stock was sold at an average price of $75.05, for a total value of $341,627.60. Following the completion of the sale, the chief technology officer owned 4,359,228 shares of the company’s stock, valued at $327,160,061.40. The trade was a 0.10% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Ashutosh Kulkarni sold 5,000 shares of the stock in a transaction dated Monday, December 15th. The shares were sold at an average price of $74.60, for a total value of $373,000.00. Following the completion of the transaction, the chief executive officer directly owned 426,901 shares in the company, valued at approximately $31,846,814.60. This represents a 1.16% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 61,828 shares of company stock valued at $4,641,010 over the last ninety days. 12.70% of the stock is owned by insiders.

Institutional Trading of Elastic

Several large investors have recently added to or reduced their stakes in ESTC. Sound Income Strategies LLC bought a new position in Elastic in the fourth quarter worth approximately $25,000. Geneos Wealth Management Inc. purchased a new stake in shares of Elastic in the 2nd quarter worth $31,000. Huntington National Bank raised its holdings in Elastic by 97.5% in the 2nd quarter. Huntington National Bank now owns 468 shares of the company’s stock worth $39,000 after purchasing an additional 231 shares during the period. Plato Investment Management Ltd purchased a new position in Elastic during the second quarter valued at $40,000. Finally, Activest Wealth Management grew its holdings in Elastic by 3,181.3% during the fourth quarter. Activest Wealth Management now owns 525 shares of the company’s stock valued at $40,000 after purchasing an additional 509 shares during the period. 97.03% of the stock is currently owned by institutional investors.

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.