Robert W. Baird Raises Elastic (NYSE:ESTC) Price Target to $120.00

Key Points

• Robert W. Baird raised Elastic’s price target to $120 from $95 and maintained an “outperform” rating, implying approximately 43% upside from the stock’s $83.88 price.
• Elastic reported quarterly EPS of $0.70 versus the $0.58 consensus and revenue of $478.1 million, up 15.2% year over year and above estimates. The company also issued stronger fiscal 2027 and second-quarter guidance.
• Analyst sentiment remains broadly positive, with 17 Buy and 13 Hold ratings and an average target of $87.70, while insiders have recently sold shares primarily to cover tax obligations tied to equity awards.

Elastic (NYSE:ESTC - Get Free Report) had its target price raised by Robert W. Baird from $95.00 to $120.00 in a research report issued on Friday,Benzinga reports. The brokerage currently has an "outperform" rating on the stock. Robert W. Baird's price target suggests a potential upside of 43.07% from the stock's current price.

Several other equities analysts also recently issued reports on the stock. Wall Street Zen downgraded shares of Elastic from a "buy" rating to a "hold" rating in a research note on Saturday, June 13th. Oppenheimer increased their price target on Elastic from $75.00 to $100.00 and gave the stock an "outperform" rating in a research note on Thursday, August 13th. Canaccord Genuity Group dropped their target price on Elastic from $90.00 to $80.00 and set a "buy" rating for the company in a research note on Friday, May 29th. Wolfe Research set a $55.00 price target on Elastic in a report on Friday, May 29th. Finally, Citigroup reissued a "buy" rating on shares of Elastic in a research report on Friday. Seventeen equities research analysts have rated the stock with a Buy rating and thirteen have issued a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $87.70.

Elastic Trading Up 5.8%

Elastic stock opened at $83.88 on Friday. The stock has a market cap of $8.72 billion, a PE ratio of 23.96, a P/E/G ratio of 19.77 and a beta of 0.98. The stock has a 50-day moving average price of $67.44 and a 200 day moving average price of $58.76. Elastic has a 52 week low of $42.05 and a 52 week 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.

Elastic (NYSE:ESTC - Get Free Report) last announced its earnings results on Thursday, August 27th. The company reported $0.70 earnings per share 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 the consensus estimate of $469.75 million. Elastic had a net margin of 21.14% and a negative return on equity of 1.82%. The firm's revenue for the quarter was up 15.2% on a year-over-year basis. During the same quarter in the previous year, the company 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 predict that Elastic will post 0.24 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Elastic news, CRO Mark Eugene Dodds sold 18,439 shares of the company's stock in a transaction dated 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 completion of the transaction, the executive directly owned 298,211 shares of the company's stock, valued at $18,074,568.71. This represents a 5.82% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 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 Elastic stock in a transaction dated Tuesday, June 9th. The stock was sold at an average price of $60.61, for a total value of $562,945.68. Following the sale, the chief technology officer directly owned 4,417,140 shares in the company, valued at approximately $267,722,855.40. The trade was a 0.21% 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 ninety days, insiders have sold 110,099 shares of company stock valued at $6,673,100. 12.70% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. AQR Capital Management LLC increased its holdings in Elastic by 153.4% during the 4th quarter. AQR Capital Management LLC now owns 7,545,081 shares of the company's stock worth $569,201,000 after purchasing an additional 4,567,720 shares during the last quarter. Pictet Asset Management Holding SA grew its position in shares of Elastic by 43.2% during the first quarter. Pictet Asset Management Holding SA now owns 6,492,717 shares of the company's stock worth $324,550,000 after buying an additional 1,958,219 shares in the last quarter. California State Teachers Retirement System grew its position in shares of Elastic by 5,082.4% during the second quarter. California State Teachers Retirement System now owns 5,419,694 shares of the company's stock worth $309,031,000 after buying an additional 5,315,115 shares in the last quarter. FIL Ltd increased its stake in shares of 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 buying an additional 977,578 shares during the last quarter. Finally, First Trust Advisors LP raised its holdings in Elastic by 516.1% in the first quarter. First Trust Advisors LP now owns 2,627,636 shares of the company's stock valued at $131,356,000 after acquiring an additional 2,201,140 shares in the last quarter. Hedge funds and other institutional investors own 97.03% of the company's stock.

Key Elastic News

Here are the key news stories impacting Elastic this week:

• Positive Sentiment: Earnings and revenue beat expectations: Elastic reported quarterly EPS of $0.70, above the $0.58 consensus, while revenue reached $478.1 million, up roughly 15% year over year and ahead of estimates near $470 million. Elastic Reports First Quarter Fiscal 2027 Financial Results
• Positive Sentiment: Raised outlook substantially: Fiscal 2027 EPS guidance of $3.29–$3.37 is well above the prior consensus of $2.64. Second-quarter EPS guidance of $0.80–$0.82 also exceeds the $0.66 estimate, while quarterly revenue guidance of $486–$487 million is above expectations. The upbeat outlook suggests improving operating leverage and continued demand for Elastic’s search, observability and AI software. Another Day, Another Software Stock Surging 20%
• Positive Sentiment: Cash generation remained solid: Operating cash flow increased to $132 million, and cash and equivalents rose to approximately $882 million, supporting financial flexibility as the company continues investing in growth. Elastic N.V. Stock Rises on Q1 2027 Earnings
• Positive Sentiment: Analyst support continues: Rosenblatt reaffirmed its Buy rating, and DA Davidson raised its price target to $80 from $60, reflecting improved expectations following the results. DA Davidson Raises Elastic Price Target
• Neutral Sentiment: While analyst sentiment is generally constructive, some published price targets remain below the stock’s recent trading level, suggesting valuation and expectations may become more demanding after the rally. Rosenblatt Reaffirms Buy Rating for Elastic
• Negative Sentiment: Third-party trading data indicates that Elastic insiders have recorded sales and no purchases during the past six months. This may temper enthusiasm, although the activity does not offset the immediate impact of the earnings beat and guidance increase. Elastic Insider Trading Activity

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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