Elastic (NYSE:ESTC) Price Target Lowered to $115.00 at Royal Bank Of Canada

Elastic (NYSE:ESTC) had its target price cut by Royal Bank Of Canada from $125.00 to $115.00 in a research report report published on Friday morning, MarketBeat reports. They currently have an outperform rating on the stock.

ESTC has been the topic of several other reports. Cowen reiterated a “hold” rating on shares of Elastic in a research report on Friday, August 29th. Oppenheimer reiterated an “outperform” rating on shares of Elastic in a report on Friday, August 29th. Robert W. Baird boosted their price objective on shares of Elastic from $120.00 to $130.00 and gave the stock an “outperform” rating in a research note on Friday, October 10th. UBS Group raised their target price on Elastic from $95.00 to $125.00 and gave the stock a “buy” rating in a research report on Friday, August 29th. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Elastic in a report on Wednesday, October 8th. Sixteen investment analysts have rated the stock with a Buy rating, twelve have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Elastic has an average rating of “Moderate Buy” and an average price target of $108.71.

Elastic Price Performance

Shares of NYSE ESTC traded down $11.92 during mid-day trading on Friday, hitting $70.16. 8,915,733 shares of the stock traded hands, compared to its average volume of 1,585,240. The company has a market cap of $7.46 billion, a PE ratio of -68.12 and a beta of 1.04. Elastic has a twelve month low of $68.78 and a twelve month high of $118.84. 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 firm has a 50 day simple moving average of $86.47 and a two-hundred day simple moving average of $85.47.

Elastic (NYSE:ESTC) last posted its earnings results on Thursday, August 28th. The company reported ($0.08) EPS for the quarter, missing the consensus estimate of $0.42 by ($0.50). Elastic had a negative net margin of 6.79% and a negative return on equity of 2.01%. The firm had revenue of $415.29 million during the quarter, compared to the consensus estimate of $397.13 million. During the same quarter in the prior year, the business posted $0.35 earnings per share. Elastic’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. As a group, equities research analysts forecast that Elastic will post -0.77 EPS for the current fiscal year.

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

Insider Activity at Elastic

In related news, insider Carolyn Herzog sold 5,143 shares of the firm’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 transaction of $463,487.16. Following the completion of the sale, the insider owned 94,677 shares of the company’s stock, valued at $8,532,291.24. This trade represents a 5.15% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO Jane E. Bone sold 1,250 shares of the business’s stock in a transaction that occurred on Monday, October 13th. The shares were sold at an average price of $87.22, for a total value of $109,025.00. Following the completion of the transaction, the chief accounting officer directly owned 37,633 shares in the company, valued at approximately $3,282,350.26. This trade represents a 3.21% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 352,042 shares of company stock worth $31,087,394 over the last quarter. 12.70% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of ESTC. Geneos Wealth Management Inc. acquired a new stake in Elastic in the second quarter worth $31,000. Huntington National Bank boosted its position in shares of Elastic by 97.5% during the 2nd quarter. Huntington National Bank now owns 468 shares of the company’s stock worth $39,000 after purchasing an additional 231 shares in the last quarter. Smartleaf Asset Management LLC grew its stake in shares of Elastic by 53.7% in 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 bought a new stake in Elastic in the 2nd quarter valued at about $40,000. Finally, Promus Capital LLC acquired a new position in Elastic during the 2nd quarter worth approximately $45,000. 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.