Elastic N.V. (NYSE:ESTC) Stock Now Rated “Moderate Buy” by Wall Street Brokerages

Elastic N.V. (NYSE:ESTC) has received a consensus recommendation of “Moderate Buy” from the twenty-nine ratings firms that are covering the firm, Marketbeat.com reports. Twelve investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $97.92.

A number of equities research analysts recently issued reports on ESTC shares. Rosenblatt Securities reissued a “buy” rating and issued a $83.00 price objective on shares of Elastic in a report on Wednesday, August 26th. Monness Crespi & Hardt upgraded shares of Elastic from a “neutral” rating to a “buy” rating and set a $120.00 price target for the company in a report on Friday. Scotiabank boosted their price objective on shares of Elastic from $58.00 to $84.00 and gave the company a “sector perform” rating in a report on Friday, August 28th. Bank of America upped their price target on Elastic from $90.00 to $108.00 and gave the stock a “neutral” rating in a research note on Friday, August 28th. Finally, Oppenheimer raised their price objective 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.

Elastic Stock Down 2.6%

Shares of NYSE ESTC opened at $95.64 on Thursday. The stock has a market cap of $10.04 billion, a PE ratio of 26.79, a P/E/G ratio of 8.25 and a beta of 1.03. The company has a current ratio of 1.81, a quick 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. The company has a 50-day moving average of $87.03 and a 200 day moving average of $66.61.

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

Insider Buying and Selling at Elastic

In other news, Director Steven Schuurman sold 1,500,000 shares of the company’s stock in a transaction on Monday, October 5th. The stock was sold at an average price of $90.13, for a total transaction of $135,195,000.00. Following the sale, the director owned 4,504,600 shares of the company’s stock, valued at approximately $405,999,598. This represents a 24.98% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CTO Shay Banon sold 84,207 shares of the stock in a transaction on Monday, September 14th. The shares were sold at an average price of $84.64, for a total value of $7,127,280.48. Following the completion of 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 ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 2,585,641 shares of company stock valued at $234,551,366. Insiders own 12.70% of the company’s stock.

Institutional Investors Weigh In On Elastic

Several large investors have recently bought and sold shares of the stock. 180 Wealth Advisors LLC lifted its position in shares of Elastic by 4.6% during the 2nd quarter. 180 Wealth Advisors LLC now owns 6,027 shares of the company’s stock worth $344,000 after purchasing an additional 263 shares during the last quarter. HB Wealth Management LLC grew its stake in shares of Elastic by 11.2% during the first quarter. HB Wealth Management LLC now owns 4,363 shares of the company’s stock worth $218,000 after purchasing an additional 441 shares in the last quarter. Bessemer Group Inc. purchased a new position in Elastic in the first quarter valued at $25,000. Basecamp Wealth Advisors LLC purchased a new position in Elastic in the first quarter valued at $28,000. Finally, GAMMA Investing LLC raised its stake in Elastic by 61.9% in the third quarter. GAMMA Investing LLC now owns 1,470 shares of the company’s stock valued at $135,000 after buying an additional 562 shares in the last quarter. Hedge funds and other institutional investors own 97.03% of the company’s stock.

About Elastic

Elastic N.V. (NYSE: ESTC) develops search, observability and security software for organizations that need to collect, analyze and act on large volumes of data. Its platform helps users search structured and unstructured information, monitor applications and infrastructure, detect security threats and build artificial intelligence-powered experiences.

The company’s principal offerings include Elasticsearch, its distributed search and analytics engine; Kibana, a visualization and data exploration interface; and Elastic Cloud, a managed cloud service for deploying Elastic products.