Elastic N.V. (NYSE:ESTC) Stock Has Average Target Price of $98.56

Key Points

• Analysts maintain a “Moderate Buy” consensus on Elastic, with 17 buys, 12 holds and one strong buy among 30 analysts. The average 12-month price target is $98.56, with recent targets ranging from $80 to $120.
• Elastic reported quarterly EPS of $0.70, exceeding the $0.58 consensus estimate, while revenue rose 15.2% year over year to $478.11 million. Shares opened at $96.97, near the average analyst target.
• Insiders sold approximately $422.9 million of stock over the past 90 days, including a $188.3 million sale by director Steven Schuurman. Institutional investors own 97.03% of Elastic’s shares.

Shares of Elastic N.V. (NYSE:ESTC - Get Free Report) have been given an average recommendation of "Moderate Buy" by the thirty research firms that are currently covering the company, Marketbeat.com reports. Twelve research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating on the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $98.56.

A number of brokerages have weighed in on ESTC. Yorkville Ives assumed coverage on Elastic in a research note on Monday, October 5th. They issued an "outperform" rating and a $115.00 target price on the stock. Guggenheim lifted their target price on shares of Elastic from $106.00 to $120.00 and gave the company a "buy" rating in a report on Friday, August 28th. Wells Fargo & Company boosted their price objective on shares of Elastic from $60.00 to $80.00 and gave the stock an "equal weight" rating in a report on Tuesday, August 25th. UBS Group raised their price target on shares of Elastic from $85.00 to $105.00 and gave the company a "buy" rating in a report on Friday, August 28th. Finally, Stifel Nicolaus raised their target price on shares of Elastic from $107.00 to $120.00 and gave the stock a "buy" rating in a report on Friday, October 9th.

Elastic Stock Down 0.3%

Shares of NYSE ESTC opened at $96.97 on Monday. The firm's 50-day moving average is $92.26 and its two-hundred day moving average is $67.47. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.81 and a quick ratio of 1.81. Elastic has a 12-month low of $42.05 and a 12-month high of $108.00. The company has a market capitalization of $10.18 billion, a PE ratio of 27.16, a price-to-earnings-growth ratio of 8.17 and a beta of 0.97.

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. 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 analyst estimates of $469.75 million. During the same quarter in the previous year, the firm posted $0.60 EPS. The firm's quarterly revenue was up 15.2% on a year-over-year basis. 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 analysts anticipate that Elastic will post 0.65 EPS for the current fiscal year.

Insider Buying and Selling at Elastic

In other news, Director Steven Schuurman sold 2,000,000 shares of the business's stock in a transaction on Monday, October 12th. The shares were sold at an average price of $94.15, for a total transaction of $188,300,000.00. Following the transaction, the director directly owned 2,504,600 shares of the company's stock, valued at approximately $235,808,090. The trade was a 44.40% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CRO Mark Dodds sold 10,000 shares of the firm's stock in a transaction on Friday, October 2nd. The stock was 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 in the company, valued at $25,787,048.04. This represents a 3.47% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 4,585,641 shares of company stock worth $422,851,366. Insiders own 12.70% of the company's stock.

Institutional Trading of Elastic

Several institutional investors have recently bought and sold shares of ESTC. First Trust Advisors LP increased its holdings in shares of Elastic by 516.1% during 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. Assenagon Asset Management S.A. boosted its stake in Elastic by 0.6% in the second quarter. Assenagon Asset Management S.A. now owns 905,241 shares of the company's stock valued at $51,617,000 after acquiring an additional 5,224 shares during the period. Bank of Nova Scotia lifted its stake in Elastic by 78.8% in the 1st quarter. Bank of Nova Scotia now owns 752,434 shares of the company's stock worth $37,614,000 after acquiring an additional 331,625 shares in the last quarter. Wellington Management Group LLP bought a new stake in Elastic in the 2nd quarter valued at $41,889,000. Finally, Quantinno Capital Management LP raised its stake in Elastic by 13.9% during the 1st quarter. Quantinno Capital Management LP now owns 468,884 shares of the company's stock worth $23,440,000 after buying an additional 57,191 shares during the period. 97.03% of the stock is owned by hedge funds and other institutional investors.

Elastic Company Profile

Elastic N.V. develops search-powered software and services for organizations worldwide. Its technology helps businesses search, analyze and act on structured and unstructured data across applications, websites, infrastructure and security environments. Elastic offers its products through cloud-based and self-managed deployment options.

The company's core platform, the Elastic Search AI Platform, is built around Elasticsearch and Kibana. Its offerings include Elastic Cloud, a managed cloud service, as well as solutions for enterprise search, observability and security.

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