Elastic N.V. (NYSE:ESTC) Receives Average Rating of "Moderate Buy" from Analysts

Key Points

• Analysts rate Elastic “Moderate Buy”: Of 30 analysts, 17 recommend buying and 13 recommend holding. The average 12-month price target is $82.19, although several firms recently lowered their targets to between $59 and $68.
• Elastic exceeded quarterly expectations: The company reported adjusted earnings of $0.61 per share versus the $0.56 consensus estimate, while revenue reached $450.68 million, up 16% year over year and above forecasts.
• Institutional ownership remains high, while insiders sold shares: Institutions and hedge funds own 97.03% of Elastic’s stock. Insiders sold 110,099 shares worth approximately $6.67 million over the past 90 days, primarily to cover tax obligations from equity awards.

Shares of Elastic N.V. (NYSE:ESTC - Get Free Report) have been assigned a consensus recommendation of "Moderate Buy" from the thirty analysts that are covering the firm, Marketbeat.com reports. Thirteen investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $82.1852.

Several analysts have recently weighed in on ESTC shares. Barclays decreased their target price on shares of Elastic from $76.00 to $68.00 and set an "overweight" rating on the stock in a research report on Friday, May 29th. DA Davidson dropped their price target on shares of Elastic from $65.00 to $60.00 and set a "neutral" rating for the company in a research report on Friday, May 29th. TD Cowen cut their price target on shares of Elastic from $65.00 to $60.00 and set a "hold" rating for the company in a research note on Tuesday, May 26th. Cantor Fitzgerald reaffirmed a "neutral" rating and set a $59.00 price objective on shares of Elastic in a report on Thursday, June 25th. Finally, Stifel Nicolaus set a $90.00 price target on Elastic in a research note on Tuesday.

Insider Activity

In other news, insider Ken Exner sold 18,449 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 $1,118,193.89. Following the sale, the insider owned 360,037 shares of the company's stock, valued at approximately $21,821,842.57. This represents a 4.87% decrease in their position. The transaction was disclosed in a document filed 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 dated Tuesday, June 9th. The stock was 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 position. 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 ninety days, insiders sold 110,099 shares of company stock valued at $6,673,100. 12.70% of the stock is owned by company insiders.

Hedge Funds Weigh In On Elastic

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ESTC. Orion Porfolio Solutions LLC boosted its stake in shares of Elastic by 1.4% during the 3rd quarter. Orion Porfolio Solutions LLC now owns 8,593 shares of the company's stock worth $726,000 after acquiring an additional 118 shares during the period. Northwestern Mutual Wealth Management Co. increased its holdings 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 acquiring an additional 171 shares during the last quarter. Public Employees Retirement System of Ohio raised its stake in Elastic by 0.6% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 28,323 shares of the company's stock valued at $2,393,000 after acquiring an additional 175 shares during the period. California State Teachers Retirement System raised its stake in Elastic by 0.3% in the 2nd quarter. California State Teachers Retirement System now owns 83,403 shares of the company's stock valued at $7,033,000 after acquiring an additional 219 shares during the period. Finally, 180 Wealth Advisors LLC lifted its holdings in Elastic by 4.6% during the 2nd quarter. 180 Wealth Advisors LLC now owns 6,027 shares of the company's stock valued at $344,000 after purchasing an additional 263 shares during the last quarter. 97.03% of the stock is currently owned by institutional investors and hedge funds.

Elastic Stock Performance

Shares of NYSE ESTC opened at $85.45 on Wednesday. The firm has a market capitalization of $8.88 billion, a price-to-earnings ratio of 24.41, a PEG ratio of 19.62 and a beta of 0.98. Elastic has a one year low of $42.05 and a one year high of $96.07. The business has a fifty day simple moving average of $64.14 and a 200 day simple moving average of $57.71. 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 posted its quarterly earnings results on Thursday, May 28th. The company reported $0.61 earnings per share for the quarter, topping analysts' consensus estimates of $0.56 by $0.05. The firm had revenue of $450.68 million for the quarter, compared to the consensus estimate of $446.66 million. Elastic had a net margin of 21.14% and a negative return on equity of 1.82%. The business's revenue was up 16.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.47 earnings per share. Elastic has set its FY 2027 guidance at 3.210-3.290 EPS and its Q1 2027 guidance at 0.570-0.590 EPS. Sell-side analysts expect that Elastic will post 0.26 EPS for the current year.

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.

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