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

Key Points

• Elastic N.V. has received a consensus recommendation of "Moderate Buy" from 31 analysts, with an average target price of $119.00.
• The company reported a revenue of $415.29 million for the last quarter, exceeding analyst expectations but missed its earnings per share target.
• Elastic's board has authorized a stock buyback program, indicating management's belief that the stock may be undervalued.

Elastic N.V. (NYSE:ESTC - Get Free Report) has earned a consensus recommendation of "Moderate Buy" from the thirty-one analysts that are covering the firm, MarketBeat reports. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $119.00.

Several research analysts have commented on the company. Oppenheimer reaffirmed an "outperform" rating on shares of Elastic in a report on Friday, August 29th. Robert W. Baird lifted their price objective on Elastic from $120.00 to $130.00 and gave the stock an "outperform" rating in a research report on Friday, October 10th. Needham & Company LLC reissued a "hold" rating on shares of Elastic in a research report on Friday, October 10th. Mizuho lifted their price objective on Elastic from $100.00 to $119.00 and gave the stock an "outperform" rating in a research report on Friday, August 29th. Finally, Barclays lifted their price objective on Elastic from $105.00 to $125.00 and gave the stock an "overweight" rating in a research report on Friday, August 29th.

Elastic Stock Down 0.7%

Shares of ESTC opened at $86.12 on Thursday. The company has a market capitalization of $9.15 billion, a PE ratio of -107.65 and a beta of 1.05. Elastic has a 12 month low of $70.14 and a 12 month high of $118.84. The stock's 50-day moving average price is $84.43 and its two-hundred day moving average price is $84.22. The company has a current ratio of 2.09, a quick ratio of 2.09 and a debt-to-equity ratio of 0.59.

Elastic (NYSE:ESTC - Get Free Report) last announced its earnings results on Thursday, August 28th. The company reported ($0.08) EPS for the quarter, missing the consensus estimate of $0.42 by ($0.50). The company had revenue of $415.29 million for the quarter, compared to analyst estimates of $397.13 million. Elastic had a negative return on equity of 1.68% and a negative net margin of 5.38%.The firm's quarterly revenue was up 19.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.35 earnings per share. Elastic has set its FY 2026 guidance at 2.290-2.350 EPS. Q2 2026 guidance at 0.560-0.580 EPS. On average, analysts anticipate that Elastic will post -0.77 EPS for the current year.

Elastic declared that its board has authorized a stock buyback program on Thursday, October 9th that allows the company to repurchase $0.00 in shares. This repurchase authorization allows the company to purchase shares of its stock through open market purchases. Shares repurchase programs are often an indication that the company's management believes its stock is undervalued.

Insider Transactions at Elastic

In related news, insider Ken Exner sold 6,290 shares of the business's stock in a transaction dated Tuesday, September 9th. The stock was sold at an average price of $90.12, for a total value of $566,854.80. Following the completion of the sale, the insider directly owned 233,582 shares of the company's stock, valued at $21,050,409.84. The trade was a 2.62% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Carolyn Herzog sold 5,143 shares of the business's stock in a transaction dated Tuesday, September 9th. The shares were sold at an average price of $90.12, for a total value of $463,487.16. Following the completion of the sale, the insider directly owned 94,677 shares of the company's stock, valued at $8,532,291.24. The trade was a 5.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 352,042 shares of company stock worth $31,087,394. Corporate insiders own 12.70% of the company's stock.

Institutional Trading of Elastic

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ESTC. GAMMA Investing LLC increased its holdings in Elastic by 134.6% during the 1st quarter. GAMMA Investing LLC now owns 570 shares of the company's stock worth $51,000 after purchasing an additional 327 shares in the last quarter. Wealth Enhancement Advisory Services LLC bought a new stake in Elastic during the 1st quarter worth approximately $1,835,000. Janney Montgomery Scott LLC increased its holdings in Elastic by 86.7% during the 1st quarter. Janney Montgomery Scott LLC now owns 3,803 shares of the company's stock worth $339,000 after purchasing an additional 1,766 shares in the last quarter. Oppenheimer Asset Management Inc. bought a new stake in Elastic during the 1st quarter worth approximately $205,000. Finally, Lecap Asset Management Ltd. increased its holdings in Elastic by 7.5% during the 1st quarter. Lecap Asset Management Ltd. now owns 26,846 shares of the company's stock worth $2,392,000 after purchasing an additional 1,877 shares in the last quarter. 97.03% of the stock is owned by institutional investors.

About Elastic

Elastic N.V., a data analytics company, delivers solutions designed to run in public or private clouds in multi-cloud environments. It primarily offers Elastic Stack, a set of software products that ingest and store data from various sources and formats, as well as performs search, analysis, and visualization on that data.

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