Elastic (NYSE:ESTC) Earns "Neutral" Rating from Cantor Fitzgerald

Key Points

• Cantor Fitzgerald reaffirmed a “Neutral” rating on Elastic with a $100 price target, implying roughly 12% upside from the prior close. The broader analyst consensus remains “Moderate Buy,” with an average target of $96.52.
• Elastic’s latest quarterly results exceeded expectations, reporting $0.70 in adjusted EPS versus the $0.58 consensus and revenue of $478.11 million versus $469.75 million expected. Revenue increased 15.2% year over year.
• Insiders sold more than 1.07 million shares worth approximately $98.4 million over the past 90 days, while institutional investors own 97.03% of the company.

Elastic (NYSE:ESTC - Get Free Report)'s stock had its "neutral" rating reissued by Cantor Fitzgerald in a report released on Wednesday, Benzinga reports. They presently have a $100.00 price objective on the stock. Cantor Fitzgerald's price target would indicate a potential upside of 12.01% from the stock's previous close.

A number of other research analysts also recently issued reports on ESTC. Robert W. Baird boosted their price target on Elastic from $95.00 to $120.00 and gave the company an "outperform" rating in a report on Friday, August 28th. Piper Sandler reiterated a "hold" rating on shares of Elastic in a research report on Friday, August 28th. Wedbush began coverage on Elastic in a research note on Friday, September 11th. They set an "outperform" rating and a $125.00 target price on the stock. Rosenblatt Securities restated a "buy" rating and set a $83.00 target price on shares of Elastic in a report on Wednesday, August 26th. Finally, Guggenheim raised their price target on Elastic from $106.00 to $120.00 and gave the stock a "buy" rating in a research note on Friday, August 28th. One research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and thirteen have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $96.52.

Elastic Trading Down 0.5%

NYSE:ESTC opened at $89.28 on Wednesday. The firm has a market capitalization of $9.37 billion, a P/E ratio of 25.01, a P/E/G ratio of 7.53 and a beta of 1.03. The company has a quick ratio of 1.81, a current ratio of 1.81 and a debt-to-equity ratio of 0.44. The company has a fifty day moving average of $78.48 and a 200 day moving average of $62.71. Elastic has a 52 week low of $42.05 and a 52 week high of $108.00.

Elastic (NYSE:ESTC - Get Free Report) last announced its quarterly earnings results on Thursday, August 27th. The company reported $0.70 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.58 by $0.12. The business had revenue of $478.11 million for the quarter, compared to analyst estimates of $469.75 million. Elastic had a net margin of 20.84% and a negative return on equity of 0.35%. The company's revenue was up 15.2% on a year-over-year basis. During the same quarter last year, the firm earned $0.60 EPS. Elastic has set its FY 2027 guidance at 3.290-3.370 EPS and its Q2 2027 guidance at 0.800-0.820 EPS. On average, research analysts predict that Elastic will post 0.65 earnings per share for the current year.

Insiders Place Their Bets

In related news, CEO Ashutosh Kulkarni sold 29,227 shares of the stock in a transaction dated Wednesday, September 9th. The shares were sold at an average price of $87.78, for a total value of $2,565,546.06. Following the completion of the transaction, the chief executive officer directly owned 599,525 shares in the company, valued at $52,626,304.50. This trade represents a 4.65% decrease in their position. 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 10,000 shares of Elastic stock in a transaction dated Tuesday, September 1st. The shares were sold at an average price of $93.67, for a total transaction of $936,700.00. Following the transaction, the insider directly owned 118,439 shares of the company's stock, valued at approximately $11,094,181.13. This trade represents a 7.79% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 1,075,641 shares of company stock worth $98,430,566. 12.70% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Elastic

A number of institutional investors and hedge funds have recently made changes to their positions in ESTC. Amundi lifted its stake in shares of Elastic by 37.2% in the first quarter. Amundi now owns 296,604 shares of the company's stock worth $14,827,000 after buying an additional 80,441 shares in the last quarter. California State Teachers Retirement System grew its holdings in shares of Elastic by 21.8% during the first quarter. California State Teachers Retirement System now owns 104,579 shares of the company's stock valued at $5,228,000 after buying an additional 18,716 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Elastic by 2.9% during the fourth quarter. Geode Capital Management LLC now owns 1,724,508 shares of the company's stock valued at $130,124,000 after acquiring an additional 49,198 shares in the last quarter. Temasek Holdings Private Ltd raised its holdings in Elastic by 9.3% in the 4th quarter. Temasek Holdings Private Ltd now owns 1,294,465 shares of the company's stock worth $97,654,000 after acquiring an additional 109,608 shares during the last quarter. Finally, ING Groep NV raised its holdings in Elastic by 20.5% in the 4th quarter. ING Groep NV now owns 444,800 shares of the company's stock worth $33,556,000 after acquiring an additional 75,700 shares during the last quarter. Institutional investors own 97.03% of the company's stock.

About Elastic

Elastic N.V. develops search, observability and security software for organizations that need to find, analyze and act on data. Its core technology, Elasticsearch, is a distributed search and analytics engine that can process structured and unstructured information from applications, websites, logs and other sources.

The company offers its platform through Elastic Cloud, a managed cloud service available across major public-cloud environments, as well as through self-managed deployments.

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