Elastic N.V. (NYSE:ESTC) Receives $78.78 Average Target Price from Analysts

Elastic N.V. (NYSE:ESTC) has received an average recommendation of “Moderate Buy” from the thirty research firms that are covering the company, Marketbeat reports. Thirteen equities research analysts have rated the stock with a hold recommendation and seventeen have issued a buy recommendation on the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $78.7778.

Several brokerages have weighed in on ESTC. Oppenheimer dropped their price objective on Elastic from $85.00 to $75.00 and set an “outperform” rating for the company in a report on Friday, May 29th. Piper Sandler reiterated an “overweight” rating on shares of Elastic in a research report on Friday, June 26th. Rosenblatt Securities lowered their price target on shares of Elastic from $90.00 to $83.00 and set a “buy” rating for the company in a research report on Friday, June 26th. Zacks Research raised shares of Elastic from a “strong sell” rating to a “hold” rating in a research note on Friday, June 26th. Finally, Citigroup increased their price objective on shares of Elastic from $95.00 to $104.00 and gave the company a “buy” rating in a report on Friday, May 29th.

Insider Activity at Elastic

In other news, insider Ken Exner sold 18,449 shares of the stock in a transaction 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 transaction, the insider owned 360,037 shares of the company’s stock, valued at $21,821,842.57. This represents a 4.87% decrease in their position. The transaction 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, CRO Mark Eugene Dodds sold 18,439 shares of the firm’s stock in a transaction on Tuesday, June 9th. The stock was sold at an average price of $60.61, for a total value of $1,117,587.79. Following the completion of the transaction, the executive owned 298,211 shares in the company, valued at $18,074,568.71. This represents a 5.82% decrease in their ownership of the stock. 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 ninety days, insiders have sold 110,099 shares of company stock worth $6,673,100. 12.70% of the stock is owned by company insiders.

Hedge Funds Weigh In On Elastic

Hedge funds have recently added to or reduced their stakes in the stock. Handelsbanken Fonder AB boosted its holdings in Elastic by 6.6% during the second quarter. Handelsbanken Fonder AB now owns 27,300 shares of the company’s stock worth $1,557,000 after buying an additional 1,700 shares during the last quarter. Assenagon Asset Management S.A. increased its stake in shares of Elastic by 0.6% in the 2nd quarter. Assenagon Asset Management S.A. now owns 905,241 shares of the company’s stock valued at $51,617,000 after acquiring an additional 5,224 shares during the last quarter. 180 Wealth Advisors LLC increased its stake in shares of Elastic by 4.6% in the 2nd quarter. 180 Wealth Advisors LLC now owns 6,027 shares of the company’s stock valued at $344,000 after acquiring an additional 263 shares during the last quarter. Harbor Investment Advisory LLC acquired a new stake in shares of Elastic in the 2nd quarter valued at approximately $42,000. Finally, Basecamp Wealth Advisors LLC acquired a new stake in shares of Elastic in the 1st quarter valued at approximately $28,000. Institutional investors and hedge funds own 97.03% of the company’s stock.

Elastic Stock Up 4.2%

Shares of ESTC opened at $61.12 on Friday. The business’s fifty day moving average price is $59.54 and its two-hundred day moving average price is $57.68. The firm has a market capitalization of $6.35 billion, a price-to-earnings ratio of 17.46, a PEG ratio of 13.28 and a beta of 1.00. Elastic has a 52 week low of $42.05 and a 52 week high of $96.07. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.68 and a current ratio of 1.68.

Elastic (NYSE:ESTC) last released its earnings results on Thursday, May 28th. The company reported $0.61 earnings per share for the quarter, topping analysts’ consensus estimates of $0.56 by $0.05. Elastic had a negative return on equity of 1.82% and a net margin of 21.14%.The company had revenue of $450.68 million during the quarter, compared to the consensus estimate of $446.66 million. During the same quarter in the previous year, the company posted $0.47 earnings per share. The firm’s quarterly revenue was up 16.0% on a year-over-year basis. 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 predict that Elastic will post 0.26 earnings per share for the current year.

About Elastic

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.