Elastic N.V. (NYSE:ESTC) Stock Has Average Price Target of $96.52

Key Points

• Elastic has a “Moderate Buy” consensus rating from 29 analysts, with 15 buys, 13 holds and one strong buy. The average 12-month price target is $96.52.
• Elastic exceeded quarterly expectations, reporting adjusted EPS of $0.70 versus the $0.58 consensus and revenue of $478.11 million, up 15.2% year over year.
• Insiders sold 2.59 million shares worth approximately $234.6 million during the quarter, while institutional investors and hedge funds own 97.03% of the company.

Shares of Elastic N.V. (NYSE:ESTC - Get Free Report) have been given a consensus rating of "Moderate Buy" by the twenty-nine research firms that are presently covering the stock, MarketBeat reports. Thirteen analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating on the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $96.52.

A number of research analysts have weighed in on ESTC shares. Needham & Company LLC restated a "hold" rating on shares of Elastic in a research note on Friday, August 28th. Royal Bank Of Canada upped their price objective on Elastic from $70.00 to $87.00 and gave the stock an "outperform" rating in a research note on Friday, August 14th. Truist Financial increased their price objective on Elastic from $80.00 to $100.00 and gave the company a "buy" rating in a report on Thursday, August 20th. Bank of America raised their target price on shares of Elastic from $90.00 to $108.00 and gave the company a "neutral" rating in a research note on Friday, August 28th. Finally, Weiss Ratings upgraded shares of Elastic from a "sell (d+)" rating to a "hold (c-)" rating in a report on Wednesday, July 15th.

Insider Transactions at Elastic

In other news, CAO Jane E. Bone sold 1,542 shares of the company's stock in a transaction dated Wednesday, September 9th. The shares were sold at an average price of $87.78, for a total value of $135,356.76. Following the sale, the chief accounting officer directly owned 47,697 shares of the company's stock, valued at approximately $4,186,842.66. This represents a 3.13% decrease in their position. 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, CRO Mark Dodds sold 10,000 shares of the firm's stock in a transaction dated Friday, October 2nd. The shares were sold at an average price of $92.58, for a total transaction of $925,800.00. Following the completion of the sale, the executive owned 278,538 shares of the company's stock, valued at $25,787,048.04. This trade represents a 3.47% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 2,585,641 shares of company stock valued at $234,551,366. 12.70% of the stock is owned by company insiders.

Hedge Funds Weigh In On Elastic

Institutional investors have recently bought and sold shares of the business. Bessemer Group Inc. acquired a new stake in shares of Elastic in the first quarter valued at approximately $25,000. Basecamp Wealth Advisors LLC acquired a new position in shares of Elastic during the 1st quarter worth approximately $28,000. Harbor Investment Advisory LLC acquired a new position in shares of Elastic during the 2nd quarter worth approximately $42,000. Root Financial Partners LLC raised its stake in Elastic by 2,976.7% in the 1st quarter. Root Financial Partners LLC now owns 923 shares of the company's stock valued at $46,000 after acquiring an additional 893 shares during the period. Finally, Summit Securities Group LLC bought a new stake in Elastic in the 1st quarter valued at $79,000. Institutional investors and hedge funds own 97.03% of the company's stock.

Elastic Trading Down 1.4%

Elastic stock opened at $93.30 on Thursday. The firm has a 50-day moving average of $85.23 and a 200-day moving average of $65.67. Elastic has a one year low of $42.05 and a one year high of $108.00. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.81 and a quick ratio of 1.81. The company has a market cap of $9.80 billion, a price-to-earnings ratio of 26.14, a P/E/G ratio of 7.94 and a beta of 1.03.

Elastic (NYSE:ESTC - Get Free Report) last announced its quarterly earnings data 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. Elastic had a negative return on equity of 0.35% and a net margin of 20.84%.The company had revenue of $478.11 million during the quarter, compared to analysts' expectations of $469.75 million. During the same quarter last year, the company earned $0.60 EPS. Elastic's revenue for the quarter was up 15.2% compared to the same quarter last year. 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, equities analysts expect that Elastic will post 0.65 earnings per share for the current fiscal year.

About Elastic

Elastic N.V. NYSE: ESTC develops search, observability and security software for organizations that need to collect, analyze and act on large volumes of data. Its platform helps users search structured and unstructured information, monitor applications and infrastructure, detect security threats and build artificial intelligence-powered experiences.

The company's principal offerings include Elasticsearch, its distributed search and analytics engine; Kibana, a visualization and data exploration interface; and Elastic Cloud, a managed cloud service for deploying Elastic products.

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