Elastic (NYSE:ESTC) Reaches New 1-Year Low – Here’s What Happened

Elastic N.V. (NYSE:ESTC) shares hit a new 52-week low during trading on Thursday . The stock traded as low as $66.92 and last traded at $66.7460, with a volume of 351956 shares trading hands. The stock had previously closed at $73.38.

Wall Street Analysts Forecast Growth

ESTC has been the subject of a number of research analyst reports. UBS Group lowered their price objective on shares of Elastic from $125.00 to $110.00 and set a “buy” rating for the company in a research report on Friday, November 21st. Wells Fargo & Company decreased their target price on shares of Elastic from $90.00 to $75.00 and set an “equal weight” rating on the stock in a research note on Friday, November 21st. Robert W. Baird upped their price target on shares of Elastic from $120.00 to $130.00 and gave the stock an “outperform” rating in a report on Friday, October 10th. Cantor Fitzgerald cut their price objective on Elastic from $94.00 to $85.00 and set a “neutral” rating on the stock in a report on Friday, November 21st. Finally, Canaccord Genuity Group reduced their price objective on Elastic from $120.00 to $115.00 and set a “buy” rating on the stock in a research report on Friday, November 21st. Seventeen investment analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Elastic currently has an average rating of “Moderate Buy” and a consensus target price of $105.71.

Elastic Price Performance

The stock has a market cap of $7.08 billion, a P/E ratio of -65.30, a price-to-earnings-growth ratio of 301.92 and a beta of 0.92. The business has a 50-day simple moving average of $74.43 and a 200 day simple moving average of $81.39. The company has a current ratio of 1.97, a quick ratio of 1.97 and a debt-to-equity ratio of 0.64.

Elastic (NYSE:ESTC) last issued its quarterly earnings data on Thursday, November 20th. The company reported $0.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.58 by $0.06. Elastic had a negative return on equity of 2.02% and a negative net margin of 6.79%.The company had revenue of $423.48 million during the quarter, compared to the consensus estimate of $418.27 million. During the same period last year, the company earned $0.59 earnings per share. The firm’s revenue was up 15.9% compared to the same quarter last year. Elastic has set its Q3 2026 guidance at 0.630-0.65 EPS. On average, analysts forecast that Elastic N.V. will post -0.77 earnings per share for the current year.

Elastic announced that its board has approved 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 repurchase shares of its stock through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

Insider Activity at Elastic

In other Elastic news, CEO Ashutosh Kulkarni sold 5,000 shares of the stock in a transaction dated Monday, December 15th. The stock was sold at an average price of $74.60, for a total transaction of $373,000.00. Following the completion of the sale, the chief executive officer directly owned 426,901 shares in the company, valued at approximately $31,846,814.60. This trade represents a 1.16% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Jane E. Bone sold 1,187 shares of the business’s stock in a transaction dated Friday, January 9th. The shares were sold at an average price of $80.31, for a total value of $95,327.97. Following the completion of the transaction, the chief accounting officer directly owned 43,171 shares in the company, valued at $3,467,063.01. This represents a 2.68% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 61,828 shares of company stock valued at $4,641,010 over the last 90 days. 12.70% of the stock is owned by company insiders.

Hedge Funds Weigh In On Elastic

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. AQR Capital Management LLC increased its position in Elastic by 62.5% in the 3rd quarter. AQR Capital Management LLC now owns 2,977,361 shares of the company’s stock valued at $251,557,000 after buying an additional 1,145,146 shares in the last quarter. Alyeska Investment Group L.P. grew its stake in Elastic by 490.4% in the third quarter. Alyeska Investment Group L.P. now owns 1,113,503 shares of the company’s stock valued at $94,080,000 after acquiring an additional 924,911 shares during the period. Vanguard Group Inc. increased its holdings in shares of Elastic by 7.4% during the third quarter. Vanguard Group Inc. now owns 10,206,204 shares of the company’s stock valued at $862,322,000 after acquiring an additional 705,991 shares in the last quarter. Qube Research & Technologies Ltd increased its holdings in shares of Elastic by 302.1% during the second quarter. Qube Research & Technologies Ltd now owns 932,630 shares of the company’s stock valued at $78,649,000 after acquiring an additional 700,697 shares in the last quarter. Finally, BNP Paribas Financial Markets raised its position in shares of Elastic by 305.9% during the second quarter. BNP Paribas Financial Markets now owns 832,353 shares of the company’s stock worth $70,192,000 after purchasing an additional 627,284 shares during the period. Institutional investors own 97.03% of the company’s stock.

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.