Elastic (NYSE:ESTC) Given New $105.00 Price Target at JPMorgan Chase & Co.

Key Points

• JPMorgan raised Elastic’s price target from $93 to $105 while maintaining an “overweight” rating, implying approximately 6.3% upside from the reported share price.
• Elastic exceeded quarterly expectations, reporting $0.70 in EPS versus $0.58 expected and revenue of $478.1 million, up 15.2% year over year. Its fiscal 2027 EPS guidance of $3.29–$3.37 also topped analyst consensus.
• Analyst sentiment remains positive, with 17 Buy ratings and 13 Holds producing a “Moderate Buy” consensus and an average price target of $92.59; however, insiders have recently sold shares, primarily to cover tax obligations.

Elastic (NYSE:ESTC - Get Free Report) had its price objective upped by equities research analysts at JPMorgan Chase & Co. from $93.00 to $105.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has an "overweight" rating on the stock. JPMorgan Chase & Co.'s target price indicates a potential upside of 6.29% from the company's current price.

A number of other research firms have also issued reports on ESTC. Truist Financial boosted their price objective on Elastic from $80.00 to $100.00 and gave the company a "buy" rating in a research note on Thursday, August 20th. Oppenheimer raised their target price on Elastic from $75.00 to $100.00 and gave the stock an "outperform" rating in a research note on Thursday, August 13th. Barclays upped their price target on Elastic from $68.00 to $94.00 and gave the company an "overweight" rating in a research report on Monday. Zacks Research raised shares of Elastic from a "strong sell" rating to a "hold" rating in a report on Friday, June 26th. Finally, Wedbush cut their price objective on shares of Elastic from $74.00 to $65.00 and set an "outperform" rating for the company in a research report on Friday, May 29th. Seventeen analysts have rated the stock with a Buy rating and thirteen have assigned a Hold rating to the company's stock. According to MarketBeat.com, Elastic has a consensus rating of "Moderate Buy" and a consensus price target of $92.59.

Elastic Stock Performance

ESTC traded up $15.05 on Friday, hitting $98.79. The company's stock had a trading volume of 4,279,548 shares, compared to its average volume of 2,090,462. Elastic has a 12 month low of $42.05 and a 12 month high of $108.00. The firm has a market cap of $10.27 billion, a P/E ratio of 28.23, a price-to-earnings-growth ratio of 19.77 and a beta of 0.98. The company has a quick ratio of 1.68, a current ratio of 1.68 and a debt-to-equity ratio of 0.45. The company's 50 day simple moving average is $67.44 and its 200-day simple moving average is $58.76.

Elastic (NYSE:ESTC - Get Free Report) last issued its earnings results on Thursday, August 27th. The company reported $0.70 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.58 by $0.12. The business had revenue of $478.11 million for the quarter, compared to analysts' expectations of $469.75 million. Elastic had a net margin of 21.14% and a negative return on equity of 1.82%. The business's revenue for the quarter was up 15.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $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. Analysts forecast that Elastic will post 0.24 EPS for the current year.

Insiders Place Their Bets

In other news, CRO Mark Eugene Dodds sold 18,439 shares of the business's stock in a transaction dated Tuesday, June 9th. The stock was sold at an average price of $60.61, for a total transaction of $1,117,587.79. Following the completion of the transaction, the executive owned 298,211 shares of the company's stock, valued at approximately $18,074,568.71. The trade was a 5.82% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Ken Exner sold 18,449 shares of the company'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 $1,118,193.89. Following the completion of the transaction, the insider owned 360,037 shares in the company, valued at approximately $21,821,842.57. This trade represents a 4.87% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last three months, insiders sold 110,099 shares of company stock worth $6,673,100. 12.70% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Elastic

Several hedge funds have recently bought and sold shares of ESTC. AQR Capital Management LLC increased its holdings in shares of Elastic by 153.4% in the 4th quarter. AQR Capital Management LLC now owns 7,545,081 shares of the company's stock worth $569,201,000 after buying an additional 4,567,720 shares during the last quarter. Pictet Asset Management Holding SA lifted its holdings in shares of Elastic by 43.2% during the 1st quarter. Pictet Asset Management Holding SA now owns 6,492,717 shares of the company's stock worth $324,550,000 after acquiring an additional 1,958,219 shares during the last quarter. California State Teachers Retirement System lifted its holdings in shares of 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 acquiring an additional 5,315,115 shares during the last quarter. FIL Ltd grew its position in Elastic by 36.9% in the fourth quarter. FIL Ltd now owns 3,628,748 shares of the company's stock worth $273,753,000 after acquiring an additional 977,578 shares in the last quarter. Finally, First Trust Advisors LP grew its position in Elastic by 516.1% in the first quarter. First Trust Advisors LP now owns 2,627,636 shares of the company's stock worth $131,356,000 after acquiring an additional 2,201,140 shares in the last quarter. 97.03% of the stock is currently owned by institutional investors.

Key Elastic News

Here are the key news stories impacting Elastic this week:

• Positive Sentiment: Quarterly beat: Elastic reported adjusted EPS of $0.70, exceeding the $0.58 consensus estimate, while revenue rose 15.2% year over year to $478.1 million, ahead of the approximately $469.8 million analyst forecast. Elastic quarterly earnings report
• Positive Sentiment: Raised outlook: Fiscal 2027 EPS guidance of $3.29-$3.37 is substantially above the $2.64 consensus estimate. Second-quarter EPS guidance of $0.80-$0.82 also exceeds expectations of $0.66, while projected revenue of $486-$487 million is above the $483.2 million consensus. The guidance upgrade is a major reason investors are reassessing the company’s growth and profitability outlook. Elastic fiscal 2027 results
• Positive Sentiment: Analyst support: Robert W. Baird raised its price target from $95 to $120 and assigned an “outperform” rating, implying meaningful upside from the current trading level. Rosenblatt Securities also reaffirmed its “buy” rating. Benzinga analyst update
• Neutral Sentiment: DA Davidson increased its price target from $60 to $80 but maintained a “neutral” rating. This reflects improving expectations while signaling that valuation and execution risks remain after the sharp rally. DA Davidson raises Elastic price target
• Negative Sentiment: Quiver Quantitative data shows 14 insider sales and no insider purchases over the past six months. Although these transactions may reflect scheduled or compensation-related selling, the absence of insider buying could temper enthusiasm. The stock also trades near the upper portion of its 52-week range, increasing sensitivity to any future guidance or execution disappointment.

About Elastic

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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