Oppenheimer Raises Elastic (NYSE:ESTC) Price Target to $118.00

Key Points

• Oppenheimer raised Elastic’s price target to $118 from $100 and maintained an “outperform” rating, implying approximately 21% upside from the stock’s current price.
• Elastic shares rose 16.2% to $97.30 following a quarterly earnings beat, with EPS of $0.70 versus the $0.58 consensus and revenue up 15.2% year over year to $478.1 million.
• Analyst sentiment is broadly positive, with a consensus “Moderate Buy” rating and average price target of $94.93, while insiders have sold shares worth roughly $6.7 million over the past three months.

Elastic (NYSE:ESTC - Get Free Report) had its price target raised by Oppenheimer from $100.00 to $118.00 in a research note issued to investors on Friday,Benzinga reports. The firm currently has an "outperform" rating on the stock. Oppenheimer's target price would suggest a potential upside of 21.27% from the stock's current price.

A number of other equities research analysts have also recently commented on the company. Scotiabank decreased their price target on Elastic from $61.00 to $58.00 and set a "sector perform" rating for the company in a research note on Friday, May 29th. Morgan Stanley upped their price objective on shares of Elastic from $66.00 to $75.00 and gave the company an "equal weight" rating in a report on Friday. Stifel Nicolaus set a $107.00 price objective on shares of Elastic in a research report on Friday. Jefferies Financial Group boosted their target price on shares of Elastic from $100.00 to $120.00 and gave the stock a "buy" rating in a research report on Friday. Finally, Canaccord Genuity Group upped their price target on shares of Elastic from $80.00 to $120.00 and gave the company a "buy" rating in a research note on Friday. Seventeen analysts have rated the stock with a Buy rating and thirteen have issued a Hold rating to the company. Based on data from MarketBeat, Elastic presently has a consensus rating of "Moderate Buy" and an average price target of $94.93.

Elastic Stock Up 16.2%

NYSE ESTC traded up $13.56 on Friday, hitting $97.30. The stock had a trading volume of 4,815,722 shares, compared to its average volume of 2,099,673. The business's fifty day moving average price is $67.44 and its 200 day moving average price is $58.76. The stock has a market cap of $10.11 billion, a price-to-earnings ratio of 27.80, a price-to-earnings-growth ratio of 19.77 and a beta of 0.98. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.68 and a quick ratio of 1.68. Elastic has a 52-week low of $42.05 and a 52-week high of $108.00.

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

Insiders Place Their Bets

In other news, CRO Mark Eugene Dodds sold 18,439 shares of the stock in a transaction on Tuesday, June 9th. The shares were sold at an average price of $60.61, for a total value of $1,117,587.79. Following the sale, the executive owned 298,211 shares in the company, valued at $18,074,568.71. This represents a 5.82% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 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 the company's stock in a transaction on Tuesday, June 9th. The shares were sold at an average price of $60.61, for a total transaction of $574,885.85. Following the completion of the sale, the insider directly owned 128,439 shares in the company, valued at approximately $7,784,687.79. The trade was a 6.88% decrease in their ownership of the stock. 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. Over the last three months, insiders sold 110,099 shares of company stock worth $6,673,100. Company insiders own 12.70% of the company's stock.

Institutional Trading of Elastic

Hedge funds have recently modified their holdings of the stock. Focus Partners Wealth purchased a new position in Elastic during the first quarter valued at approximately $494,000. Northwestern Mutual Wealth Management Co. grew its stake in shares of Elastic by 17.3% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,159 shares of the company's stock worth $98,000 after purchasing an additional 171 shares during the period. Invesco Ltd. grew its stake in shares of Elastic by 11.7% during the 2nd quarter. Invesco Ltd. now owns 95,332 shares of the company's stock worth $8,039,000 after purchasing an additional 9,990 shares during the period. EverSource Wealth Advisors LLC increased its holdings in shares of Elastic by 400.0% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,110 shares of the company's stock valued at $178,000 after purchasing an additional 1,688 shares in the last quarter. Finally, Cerity Partners LLC increased its holdings in shares of Elastic by 24.7% during the 2nd quarter. Cerity Partners LLC now owns 30,545 shares of the company's stock valued at $2,576,000 after purchasing an additional 6,056 shares in the last quarter. Hedge funds and other institutional investors own 97.03% of the company's stock.

Elastic News Summary

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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