Elastic (NYSE:ESTC) Price Target Lowered to $115.00 at Citigroup

Elastic (NYSE:ESTC) had its price target lowered by analysts at Citigroup from $130.00 to $115.00 in a report released on Monday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Citigroup’s price target suggests a potential upside of 64.68% from the company’s previous close.

A number of other equities research analysts also recently weighed in on the company. Cowen restated a “hold” rating on shares of Elastic in a research report on Friday, August 29th. Barclays decreased their price objective on Elastic from $125.00 to $107.00 and set an “overweight” rating on the stock in a report on Friday. Rosenblatt Securities reaffirmed a “buy” rating and issued a $130.00 target price on shares of Elastic in a research note on Wednesday, November 19th. Wall Street Zen raised shares of Elastic from a “hold” rating to a “buy” rating in a research note on Saturday, October 11th. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Elastic in a research note on Wednesday, October 8th. Seventeen equities research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $107.25.

Elastic Stock Performance

Shares of NYSE:ESTC traded down $0.21 during trading on Monday, hitting $69.83. 1,783,904 shares of the company were exchanged, compared to its average volume of 1,763,698. Elastic has a 52-week low of $68.78 and a 52-week high of $118.84. The stock has a 50 day moving average of $86.47 and a 200 day moving average of $85.49. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.09 and a quick ratio of 2.09. The company has a market cap of $7.42 billion, a PE ratio of -68.05 and a beta of 1.04.

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

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

Insider Transactions at Elastic

In related news, insider Ken Exner sold 6,290 shares of the company’s 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 $566,854.80. Following the transaction, the insider directly owned 233,582 shares of the company’s stock, valued at approximately $21,050,409.84. This represents a 2.62% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CTO Shay Banon sold 104,326 shares of the stock in a transaction on Tuesday, September 9th. The shares were sold at an average price of $90.34, for a total value of $9,424,810.84. Following the sale, the chief technology officer directly owned 4,363,780 shares in the company, valued at $394,223,885.20. This trade represents a 2.33% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 352,042 shares of company stock valued at $31,087,394. 12.70% of the stock is currently owned by insiders.

Institutional Trading of Elastic

Large investors have recently made changes to their positions in the stock. Geneos Wealth Management Inc. purchased a new position in shares of Elastic during the second quarter valued at approximately $31,000. Huntington National Bank raised its stake in Elastic by 97.5% during the 2nd quarter. Huntington National Bank now owns 468 shares of the company’s stock valued at $39,000 after buying an additional 231 shares during the last quarter. Smartleaf Asset Management LLC lifted its holdings in shares of Elastic by 53.7% during the 1st quarter. Smartleaf Asset Management LLC now owns 435 shares of the company’s stock valued at $40,000 after buying an additional 152 shares during the period. Plato Investment Management Ltd purchased a new position in Elastic in the second quarter worth about $40,000. Finally, Promus Capital LLC purchased a new stake in Elastic during the second quarter valued at approximately $45,000. 97.03% of the stock is currently 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.