Elastic (NYSE:ESTC) Price Target Lowered to $108.00 at Stifel Nicolaus

Elastic (NYSE:ESTC) had its price objective reduced by Stifel Nicolaus from $134.00 to $108.00 in a research note released on Friday morning,Benzinga reports. They currently have a buy rating on the stock.

A number of other analysts have also issued reports on ESTC. Weiss Ratings reissued a “sell (d)” rating on shares of Elastic in a research note on Wednesday, October 8th. Cowen reaffirmed a “hold” rating on shares of Elastic in a research report on Friday, August 29th. Bank of America decreased their price target on shares of Elastic from $111.00 to $90.00 and set a “neutral” rating on the stock in a report on Friday. Oppenheimer restated an “outperform” rating on shares of Elastic in a report on Friday, August 29th. Finally, Zacks Research cut Elastic from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 26th. Sixteen equities research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Elastic has a consensus rating of “Moderate Buy” and an average target price of $108.71.

Elastic Trading Down 14.5%

NYSE ESTC traded down $11.92 during mid-day trading on Friday, reaching $70.16. 8,915,733 shares of the stock were exchanged, compared to its average volume of 1,585,240. The stock has a market capitalization of $7.46 billion, a PE ratio of -68.12 and a beta of 1.04. The company has a debt-to-equity ratio of 0.59, a quick ratio of 2.09 and a current ratio of 2.09. Elastic has a 1-year low of $68.78 and a 1-year high of $118.84. The business’s fifty day simple moving average is $86.47 and its 200 day simple moving average is $85.47.

Elastic (NYSE:ESTC) last issued its quarterly earnings results on Thursday, August 28th. The company reported ($0.08) earnings per share for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.50). Elastic had a negative return on equity of 2.01% and a negative net margin of 6.79%.The business had revenue of $415.29 million for the quarter, compared to analysts’ expectations of $397.13 million. During the same period in the prior year, the company earned $0.35 EPS. The company’s revenue for the quarter was up 19.5% compared to the same quarter last year. Elastic has set its FY 2026 guidance at 2.290-2.350 EPS. Q2 2026 guidance at 0.560-0.580 EPS. On average, research analysts anticipate that Elastic will post -0.77 earnings per share for the current fiscal year.

Elastic declared that its Board of Directors has authorized a stock buyback program on Thursday, October 9th that authorizes the company to buyback $0.00 in shares. This buyback authorization authorizes the company to purchase shares of its stock through open market purchases. Shares buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.

Insider Buying and Selling at Elastic

In related news, CRO Mark Eugene Dodds sold 5,037 shares of Elastic stock in a transaction dated Tuesday, September 9th. The stock was sold at an average price of $90.12, for a total value of $453,934.44. Following the completion of the transaction, the executive directly owned 167,284 shares in the company, valued at approximately $15,075,634.08. This trade represents a 2.92% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Ashutosh Kulkarni sold 19,622 shares of Elastic stock in a transaction that occurred on Tuesday, September 9th. The stock was sold at an average price of $90.12, for a total value of $1,768,334.64. Following the completion of the transaction, the chief executive officer owned 457,314 shares of the company’s stock, valued at approximately $41,213,137.68. The trade was a 4.11% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 352,042 shares of company stock valued at $31,087,394. Corporate insiders own 12.70% of the company’s stock.

Hedge Funds Weigh In On Elastic

Several institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. grew its stake in Elastic by 7.4% during the 3rd quarter. Vanguard Group Inc. now owns 10,206,204 shares of the company’s stock worth $862,322,000 after buying an additional 705,991 shares during the last quarter. AQR Capital Management LLC grew its position in Elastic by 62.5% in the 3rd quarter. AQR Capital Management LLC now owns 2,977,361 shares of the company’s stock worth $251,557,000 after purchasing an additional 1,145,146 shares during the last quarter. Voya Investment Management LLC grew its position in Elastic by 4.7% in the 3rd quarter. Voya Investment Management LLC now owns 1,781,925 shares of the company’s stock worth $150,555,000 after purchasing an additional 79,465 shares during the last quarter. State Street Corp raised its holdings in shares of Elastic by 4.0% during the second quarter. State Street Corp now owns 1,574,525 shares of the company’s stock valued at $132,780,000 after buying an additional 59,850 shares during the last quarter. Finally, Geode Capital Management LLC raised its holdings in shares of Elastic by 3.6% during the second quarter. Geode Capital Management LLC now owns 1,569,578 shares of the company’s stock valued at $132,384,000 after buying an additional 54,812 shares during the last quarter. 97.03% of the stock is owned by institutional investors.

Elastic Company Profile

Elastic N.V., a data analytics company, delivers solutions designed to run in public or private clouds in multi-cloud environments. It primarily offers Elastic Stack, a set of software products that ingest and store data from various sources and formats, as well as performs search, analysis, and visualization on that data.