Elastic (NYSE:ESTC) Price Target Raised to $80.00

Elastic (NYSE:ESTC) had its price target boosted by DA Davidson from $60.00 to $80.00 in a research report sent to investors on Wednesday morning,Benzinga reports. They currently have a neutral rating on the stock.

Several other equities analysts have also issued reports on ESTC. Rosenblatt Securities reissued a “buy” rating and set a $83.00 target price on shares of Elastic in a research note on Wednesday. William Blair started coverage on Elastic in a research report on Friday, May 22nd. They issued an “outperform” rating for the company. Jefferies Financial Group boosted their price target on shares of Elastic from $75.00 to $100.00 and gave the stock a “buy” rating in a research note on Sunday, August 16th. Wall Street Zen cut shares of Elastic from a “buy” rating to a “hold” rating in a research report on Saturday, June 13th. Finally, UBS Group reissued a “buy” rating and issued a $85.00 price objective on shares of Elastic in a research note on Friday, May 29th. Fifteen research analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $94.12.

Elastic Stock Performance

NYSE:ESTC opened at $99.75 on Wednesday. The stock has a market capitalization of $10.37 billion, a P/E ratio of 27.94, a PEG ratio of 20.89 and a beta of 0.98. 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 has a fifty-two week low of $42.05 and a fifty-two week high of $108.00. The company has a 50 day moving average price of $68.25 and a 200 day moving average price of $59.05.

Elastic (NYSE:ESTC) last released its quarterly earnings results on Thursday, August 27th. The company reported $0.70 EPS for the quarter, topping the consensus estimate of $0.58 by $0.12. Elastic had a negative return on equity of 0.38% and a net margin of 20.84%.The business had revenue of $478.11 million during the quarter, compared to analyst estimates of $469.75 million. During the same period last year, the business posted $0.60 earnings per share. The company’s quarterly revenue was up 15.2% on a year-over-year basis. Elastic has set its FY 2027 guidance at 3.290-3.370 EPS and its Q2 2027 guidance at 0.800-0.820 EPS. Equities research analysts forecast that Elastic will post 0.24 EPS for the current year.

Insider Buying and Selling at Elastic

In related news, CEO Ashutosh Kulkarni sold 40,373 shares of the firm’s stock in a transaction that occurred on Tuesday, June 9th. The shares were sold at an average price of $60.61, for a total value of $2,447,007.53. Following the sale, the chief executive officer owned 628,752 shares of the company’s stock, valued at $38,108,658.72. This trade represents a 6.03% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Carolyn Herzog sold 9,485 shares of Elastic stock in a transaction that occurred on Tuesday, June 9th. The stock was sold at an average price of $60.61, for a total transaction of $574,885.85. Following the completion of the transaction, the insider owned 128,439 shares of the company’s stock, valued at $7,784,687.79. This represents a 6.88% decrease in their position. 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 90 days, insiders sold 110,099 shares of company stock valued at $6,673,100. 12.70% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Elastic

Several institutional investors have recently modified their holdings of the company. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in Elastic in the second quarter valued at $319,000. California State Teachers Retirement System lifted its holdings in Elastic by 5,082.4% during the 2nd quarter. California State Teachers Retirement System now owns 5,419,694 shares of the company’s stock worth $309,031,000 after buying an additional 5,315,115 shares during the last quarter. Syon Capital LLC purchased a new stake in Elastic during the 2nd quarter worth about $3,300,000. denkapparat Operations GmbH acquired a new position in shares of Elastic during the 2nd quarter worth about $322,000. Finally, Wellington Management Group LLP acquired a new position in shares of Elastic during the 2nd quarter worth about $41,889,000. 97.03% of the stock is owned by hedge funds and other institutional investors.

Key Elastic News

Here are the key news stories impacting Elastic this week:

• Positive Sentiment: Quarterly beat and raised outlook: Elastic reported adjusted EPS of $0.70 versus the consensus estimate of $0.58, while revenue reached approximately $478.1 million, up about 15% year over year and ahead of most estimates. Management guided fiscal Q2 EPS to $0.80-$0.82, compared with the $0.66 consensus, and raised fiscal 2027 EPS guidance to $3.29-$3.37 versus an expected $2.64. Elastic Tops Q1 Earnings and Revenue Estimates
• Positive Sentiment: AI and enterprise demand are supporting growth: Coverage highlights increasing AI adoption, expansion among large enterprise customers and new product investments as drivers of Elastic’s accelerating revenue outlook. The results also showed solid cash generation, with operating cash flow of roughly $132 million. Another Day, Another Software Stock Surging 20%
• Positive Sentiment: Analyst targets moved higher: Oppenheimer, Jefferies, JPMorgan, Canaccord Genuity and Robert W. Baird all raised their price targets following the earnings report. Several firms now carry targets of $118-$120, with ratings ranging from “buy” to “outperform,” reinforcing the bullish reaction. Jefferies Raises Elastic Price Target
• Neutral Sentiment: Elastic announced that proxy materials for its October 15, 2026 annual shareholder meeting are available online. The filing is routine and is unlikely to materially affect the stock. Elastic Announces Proxy Materials Availability
• Negative Sentiment: Some valuation caution remains: Morgan Stanley maintained an “equal weight” rating with a $75 target, below the current trading level. Reported insider activity also shows sales without purchases in recent months, although these transactions may reflect routine diversification.

Elastic Company Profile

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.