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

Elastic (NYSE:ESTC) had its target price hoisted by Wells Fargo & Company from $60.00 to $80.00 in a research report released on Tuesday morning,Benzinga reports. They currently have an equal weight rating on the stock.

A number of other research firms have also weighed in on ESTC. TD Cowen dropped their price objective on Elastic from $65.00 to $60.00 and set a “hold” rating for the company in a research note on Tuesday, May 26th. Guggenheim restated a “buy” rating and issued a $106.00 target price on shares of Elastic in a report on Wednesday, August 19th. Royal Bank Of Canada lifted their target price on shares of Elastic from $70.00 to $87.00 and gave the stock an “outperform” rating in a research note on Friday, August 14th. DA Davidson lowered their price target on shares of Elastic from $65.00 to $60.00 and set a “neutral” rating for the company in a report on Friday, May 29th. Finally, Citigroup increased their price target on shares of Elastic from $95.00 to $104.00 and gave the company a “buy” rating in a research report on Friday, May 29th. Seventeen research analysts have rated the stock with a Buy rating and thirteen have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $87.41.

Elastic Trading Up 5.8%

NYSE ESTC opened at $83.88 on Tuesday. Elastic has a 1-year low of $42.05 and a 1-year high of $96.07. The company has a current ratio of 1.68, a quick ratio of 1.68 and a debt-to-equity ratio of 0.45. The stock has a 50-day moving average of $67.44 and a 200-day moving average of $58.76. The firm has a market cap of $8.72 billion, a PE ratio of 23.96, a price-to-earnings-growth ratio of 19.77 and a beta of 0.98.

Elastic (NYSE:ESTC) last posted its quarterly earnings results on Thursday, August 27th. The company reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.58 by $0.12. Elastic had a negative return on equity of 1.82% and a net margin of 21.14%.The business had revenue of $478.11 million for the quarter, compared to analyst estimates of $469.75 million. During the same period last year, the company earned $0.60 EPS. Elastic’s revenue for the quarter was up 15.2% compared to the same quarter last year. Elastic has set its FY 2027 guidance at 3.290-3.370 EPS and its Q2 2027 guidance at 0.800-0.820 EPS. As a group, sell-side analysts forecast that Elastic will post 0.24 EPS for the current year.

Insiders Place Their Bets

In other news, CAO Jane E. Bone sold 1,104 shares of the business’s 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 $66,913.44. Following the transaction, the chief accounting officer directly owned 53,415 shares of the company’s stock, valued at approximately $3,237,483.15. The trade was a 2.02% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CTO Shay Banon sold 9,288 shares of the company’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 $562,945.68. Following the transaction, the chief technology officer owned 4,417,140 shares of the company’s stock, valued at approximately $267,722,855.40. This represents a 0.21% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last quarter, insiders have sold 110,099 shares of company stock worth $6,673,100. Insiders own 12.70% of the company’s stock.

Institutional Trading of Elastic

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

Elastic News Roundup

Here are the key news stories impacting Elastic this week:

• Positive Sentiment: Quarterly results beat estimates: Elastic reported adjusted EPS of $0.70, above the $0.58 consensus and up from $0.60 a year earlier. Revenue rose approximately 15% year over year to $478.1 million, narrowly exceeding estimates near $469.8 million. Elastic Tops Q1 Earnings and Revenue Estimates
• Positive Sentiment: Outlook was the strongest driver: Elastic forecast second-quarter EPS of $0.80-$0.82 versus the $0.66 consensus, with revenue guidance of $486-$487 million versus expectations of $483.2 million. Full-year fiscal 2027 EPS guidance of $3.29-$3.37 was also well above the $2.64 consensus, while revenue guidance was approximately $2 billion. Elastic Earnings Report
• Positive Sentiment: Cash generation remained solid: Operating cash flow increased to $132 million, and cash and equivalents reached $881.8 million. Gross profit also rose to $356.2 million, although the company continued to report an operating loss and net loss under certain accounting measures. Elastic Stock Rises on Q1 Earnings
• Neutral Sentiment: Analyst views remain mixed: Several firms maintain neutral ratings, and the median recent price target of $71.50 is below the current trading level, though some analysts have targets as high as $104.
• Negative Sentiment: Insider selling is a risk signal: Company insiders reported 14 open-market sales and no purchases during the past six months. This may add caution after the stock’s post-earnings advance.

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.