Elastic (NYSE:ESTC) Posts Quarterly Earnings Results, Beats Estimates By $0.10 EPS

Elastic (NYSE:ESTC - Get Free Report) announced its quarterly earnings data on Thursday. The company reported $0.47 earnings per share for the quarter, topping analysts' consensus estimates of $0.37 by $0.10, RTT News reports. Elastic had a net margin of 4.39% and a negative return on equity of 13.20%. The company had revenue of $388.43 million during the quarter, compared to analyst estimates of $380.61 million. During the same period in the previous year, the business earned $0.21 EPS. The firm's revenue for the quarter was up 15.9% on a year-over-year basis. 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 Down 12.0%

Shares of ESTC traded down $11.08 during mid-day trading on Friday, hitting $80.95. 8,817,353 shares of the company traded hands, compared to its average volume of 1,484,527. The company has a market capitalization of $8.45 billion, a PE ratio of 147.18 and a beta of 1.20. The company has a quick ratio of 1.99, a current ratio of 1.99 and a debt-to-equity ratio of 0.70. The business has a 50 day moving average of $85.51 and a 200 day moving average of $97.68. Elastic has a 1-year low of $69.00 and a 1-year high of $123.96.

Analyst Ratings Changes

ESTC has been the topic of several analyst reports. Truist Financial dropped their price target on shares of Elastic from $145.00 to $140.00 and set a "buy" rating on the stock in a research note on Monday, March 31st. Wall Street Zen upgraded Elastic from a "hold" rating to a "buy" rating in a research report on Friday. JPMorgan Chase & Co. decreased their price target on shares of Elastic from $120.00 to $110.00 and set an "overweight" rating on the stock in a research note on Friday. Guggenheim dropped their target price on Elastic from $136.00 to $107.00 and set a "buy" rating for the company in a report on Friday. Finally, Oppenheimer reduced their price objective 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. Seven investment analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $114.67.

Insider Buying and Selling at Elastic

In other Elastic news, CEO Ashutosh Kulkarni sold 18,735 shares of the business's stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $90.77, for a total value of $1,700,575.95. Following the completion of the transaction, the chief executive officer now directly owns 376,591 shares of the company's stock, valued at approximately $34,183,165.07. The trade was a 4.74% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CTO Shay Banon sold 140,129 shares of the company's stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $106.68, for a total value of $14,948,961.72. Following the completion of the sale, the chief technology officer now owns 2,254,978 shares in the company, valued at approximately $240,561,053.04. This represents a 5.85% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 172,636 shares of company stock worth $17,959,032. 15.90% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Elastic

An institutional investor recently bought a new position in Elastic stock. Focus Partners Wealth acquired a new stake in Elastic (NYSE:ESTC - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 5,549 shares of the company's stock, valued at approximately $494,000. Institutional investors own 97.03% of the company's stock.

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.