Elastic (NYSE:ESTC) Price Target Lowered to $90.00 at Wedbush

Elastic (NYSE:ESTC) had its price objective cut by Wedbush from $110.00 to $90.00 in a research report report published on Friday morning,Benzinga reports. They currently have an outperform rating on the stock.

A number of other research firms also recently weighed in on ESTC. Stifel Nicolaus decreased their price target on Elastic from $134.00 to $108.00 and set a “buy” rating on the stock in a research note on Friday. Monness Crespi & Hardt downgraded Elastic from a “buy” rating to a “neutral” rating in a research note on Friday. Weiss Ratings restated a “sell (d)” rating on shares of Elastic in a research report on Wednesday, October 8th. Wall Street Zen upgraded shares of Elastic from a “hold” rating to a “buy” rating in a research report on Saturday, October 11th. Finally, Robert W. Baird raised their target price on shares of Elastic from $120.00 to $130.00 and gave the company an “outperform” rating in a report on Friday, October 10th. Sixteen investment analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $108.71.

Elastic Stock Performance

ESTC traded down $11.92 during trading on Friday, hitting $70.16. The stock had a trading volume of 8,915,733 shares, compared to its average volume of 1,585,240. The firm has a market capitalization of $7.46 billion, a P/E 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 twelve month low of $68.78 and a twelve month high of $118.84. The company’s 50-day moving average price is $86.47 and its 200 day moving average price is $85.47.

Elastic (NYSE:ESTC) last issued its earnings results on Thursday, August 28th. The company reported ($0.08) earnings per share 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 analysts’ expectations of $397.13 million. During the same period in the previous year, the firm earned $0.35 EPS. The firm’s revenue was up 19.5% on a year-over-year basis. Elastic has set its FY 2026 guidance at 2.290-2.350 EPS. Q2 2026 guidance at 0.560-0.580 EPS. On average, equities research analysts forecast that Elastic will post -0.77 EPS for the current fiscal year.

Elastic declared that its Board of Directors has authorized a share buyback plan on Thursday, October 9th that permits the company to repurchase $0.00 in outstanding shares. This repurchase authorization permits the company to reacquire shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

Insider Activity at Elastic

In other news, CFO Navam Welihinda sold 1,256 shares of the firm’s stock in a transaction dated Monday, October 6th. The stock was sold at an average price of $84.58, for a total value of $106,232.48. Following the transaction, the chief financial officer directly owned 129,247 shares in the company, valued at $10,931,711.26. This trade represents a 0.96% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Ashutosh Kulkarni sold 5,000 shares of the business’s stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $88.12, for a total value of $440,600.00. Following the sale, the chief executive officer owned 452,314 shares of the company’s stock, valued at $39,857,909.68. The trade was a 1.09% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 352,042 shares of company stock valued at $31,087,394 over the last three months. Insiders own 12.70% of the company’s stock.

Institutional Investors Weigh In On Elastic

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

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.