Elastic (NYSE:ESTC) Announces Earnings Results

Elastic (NYSE:ESTC - Get Free Report) announced its quarterly earnings results on Thursday. The company reported $0.47 earnings per share for the quarter, beating analysts' consensus estimates of $0.37 by $0.10, RTT News reports. The firm had revenue of $388.43 million for the quarter, compared to analysts' expectations of $380.61 million. Elastic had a net margin of 4.39% and a negative return on equity of 13.20%. Elastic's revenue was up 15.9% compared to the same quarter last year. During the same period in the previous year, the company posted $0.21 earnings per share. Elastic updated its FY 2026 guidance to 2.240-2.32 EPS and its Q1 2026 guidance to 0.410-0.43 EPS.

Elastic Stock Up 2.7%

Shares of NYSE:ESTC traded up $2.20 during midday trading on Tuesday, reaching $83.90. The company had a trading volume of 3,187,084 shares, compared to its average volume of 1,494,617. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.99 and a quick ratio of 1.99. The stock's fifty day moving average price is $85.16 and its 200-day moving average price is $97.70. The stock has a market capitalization of $8.76 billion, a P/E ratio of 152.55 and a beta of 1.20. Elastic has a one year low of $69.00 and a one year high of $123.96.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on ESTC shares. Wedbush reduced their price target on shares of Elastic from $135.00 to $110.00 and set an "outperform" rating on the stock in a research report on Friday. Royal Bank of Canada reduced their target price on shares of Elastic from $119.00 to $115.00 and set an "outperform" rating on the stock in a research report on Friday. Piper Sandler reduced their target price on shares of Elastic from $135.00 to $120.00 and set an "overweight" rating on the stock in a research report on Friday. Oppenheimer reduced their target price on shares of Elastic from $140.00 to $120.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 22nd. Finally, Wells Fargo & Company reduced their target price on shares of Elastic from $150.00 to $120.00 and set an "overweight" rating on the stock in a research report on Friday. Seven investment analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $113.63.

Insider Buying and Selling

In other news, CEO Ashutosh Kulkarni sold 18,735 shares of the company's stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $90.77, for a total transaction of $1,700,575.95. Following the completion of the transaction, the chief executive officer now owns 376,591 shares in the company, valued at approximately $34,183,165.07. This represents a 4.74% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO Shay Banon sold 2,683 shares of the company's stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $90.78, for a total transaction of $243,562.74. Following the completion of the sale, the chief technology officer now directly owns 4,535,456 shares of the company's stock, valued at $411,728,695.68. The trade was a 0.06% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 32,507 shares of company stock worth $3,010,071. Insiders own 15.90% of the company's stock.

Institutional Investors Weigh In On Elastic

A hedge fund recently bought a new stake in Elastic stock. Focus Partners Wealth purchased a new stake in Elastic (NYSE:ESTC - Free Report) in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 5,549 shares of the company's stock, valued at approximately $494,000. 97.03% of the stock is owned by institutional investors and hedge funds.

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.