Elastic (NYSE:ESTC) Trading Up 9.7% – What’s Next?

Elastic N.V. (NYSE:ESTC) shares traded up 9.7% on Thursday . The stock traded as high as $84.54 and last traded at $84.6730. Approximately 2,536,045 shares changed hands during mid-day trading, an increase of 25% from the average daily volume of 2,027,979 shares. The stock had previously closed at $77.16.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on ESTC shares. DA Davidson dropped their price objective on shares of Elastic from $65.00 to $60.00 and set a “neutral” rating on the stock in a report on Friday, May 29th. Wall Street Zen downgraded Elastic from a “buy” rating to a “hold” rating in a research note on Saturday, June 13th. Citigroup boosted their target price on Elastic from $95.00 to $104.00 and gave the company a “buy” rating in a research report on Friday, May 29th. Wedbush dropped 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. Finally, Rothschild & Co Redburn began coverage on Elastic in a report on Thursday, April 23rd. They issued a “neutral” rating and a $49.00 price target on the stock. Seventeen investment analysts have rated the stock with a Buy rating and thirteen have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $80.33.

Elastic Stock Performance

The stock has a market cap of $8.98 billion, a price-to-earnings ratio of 24.68, a P/E/G ratio of 19.47 and a beta of 0.98. The company’s fifty day simple moving average is $63.23 and its two-hundred day simple moving average is $57.68. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.68 and a quick ratio of 1.68.

Elastic (NYSE:ESTC) last issued its quarterly earnings data on Thursday, May 28th. The company reported $0.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.56 by $0.05. The firm had revenue of $450.68 million during the quarter, compared to analysts’ expectations of $446.66 million. Elastic had a net margin of 21.14% and a negative return on equity of 1.82%. The business’s revenue was up 16.0% on a year-over-year basis. During the same period last year, the company earned $0.47 earnings per share. Elastic has set its FY 2027 guidance at 3.210-3.290 EPS and its Q1 2027 guidance at 0.570-0.590 EPS. On average, analysts forecast that Elastic N.V. will post 0.26 earnings per share for the current year.

Insider Buying and Selling at Elastic

In other news, insider Ken Exner sold 18,449 shares of the stock in a transaction that occurred on Tuesday, June 9th. The stock was sold at an average price of $60.61, for a total value of $1,118,193.89. Following the completion of the sale, the insider directly owned 360,037 shares of the company’s stock, valued at $21,821,842.57. This represents a 4.87% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Navam Welihinda sold 12,961 shares of the firm’s stock in a transaction that occurred on Tuesday, June 9th. The shares were sold at an average price of $60.61, for a total value of $785,566.21. Following the completion of the transaction, the chief financial officer owned 209,254 shares in the company, valued at $12,682,884.94. This represents a 5.83% decrease in their position. 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. In the last three months, insiders have sold 110,099 shares of company stock worth $6,673,100. 12.70% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Elastic

A number of institutional investors and hedge funds have recently bought and sold shares of ESTC. Bessemer Group Inc. purchased a new position in Elastic during the 1st quarter worth $25,000. Basecamp Wealth Advisors LLC bought a new stake in shares of Elastic in the 1st quarter worth $28,000. Geneos Wealth Management Inc. purchased a new stake in shares of Elastic in the second quarter valued at about $31,000. Activest Wealth Management raised its holdings in shares of Elastic by 3,181.2% in 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 last quarter. Finally, Harbor Investment Advisory LLC bought a new position in shares of Elastic during the second quarter valued at about $42,000. 97.03% of the stock is owned by hedge funds and other 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.