Elastic (NYSE:ESTC) Coverage Initiated at KeyCorp

KeyCorp initiated coverage on shares of Elastic (NYSE:ESTC - Free Report) in a report issued on Tuesday morning, MarketBeat reports. The brokerage issued a sector weight rating on the stock. KeyCorp also issued estimates for Elastic's Q1 2026 earnings at ($0.21) EPS, Q2 2026 earnings at ($0.06) EPS, Q3 2026 earnings at $0.04 EPS, FY2026 earnings at ($0.22) EPS, Q2 2027 earnings at ($0.05) EPS and Q3 2027 earnings at $0.01 EPS.

A number of other equities analysts also recently commented on ESTC. UBS Group raised their price objective on shares of Elastic from $140.00 to $148.00 and gave the stock a "buy" rating in a report on Friday, February 28th. Stifel Nicolaus cut their price target on shares of Elastic from $140.00 to $112.00 and set a "buy" rating for the company in a research note on Friday, May 30th. Jefferies Financial Group lowered their price objective on Elastic from $125.00 to $110.00 and set a "buy" rating on the stock in a research note on Monday, April 7th. Morgan Stanley dropped their target price on Elastic from $140.00 to $120.00 and set an "overweight" rating for the company in a report on Wednesday, April 16th. Finally, Scotiabank decreased their price target on Elastic from $137.00 to $95.00 and set a "sector outperform" rating on the stock in a research note on Friday, May 30th. Eight investment analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $113.63.

Elastic Stock Performance

Shares of ESTC traded down $3.93 during trading hours on Tuesday, reaching $79.32. 2,595,142 shares of the company traded hands, compared to its average volume of 1,507,522. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.99 and a current ratio of 1.99. The stock's fifty day moving average is $85.02 and its 200 day moving average is $96.83. Elastic has a 1-year low of $69.00 and a 1-year high of $123.96. The stock has a market cap of $8.28 billion, a P/E ratio of 144.22 and a beta of 1.07.

Elastic (NYSE:ESTC - Get Free Report) last announced its quarterly earnings data on Thursday, May 29th. The company reported $0.47 EPS for the quarter, topping analysts' consensus estimates of $0.37 by $0.10. Elastic had a negative return on equity of 13.20% and a net margin of 4.39%. The company had revenue of $388.43 million during the quarter, compared to the consensus estimate of $380.61 million. During the same quarter last year, the company earned $0.21 EPS. The company's quarterly revenue was up 15.9% on a year-over-year basis. Equities research analysts anticipate that Elastic will post -0.77 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Ken Exner sold 6,918 shares of the firm's stock in a transaction dated Monday, June 9th. The shares were sold at an average price of $86.91, for a total value of $601,243.38. Following the transaction, the insider now owns 230,494 shares of the company's stock, valued at approximately $20,032,233.54. This trade represents a 2.91% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Ashutosh Kulkarni sold 5,000 shares of the stock in a transaction that occurred on Tuesday, March 25th. The shares were sold at an average price of $102.64, for a total transaction of $513,200.00. Following the completion of the transaction, the chief executive officer now owns 371,591 shares in the company, valued at $38,140,100.24. This represents a 1.33% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 53,413 shares of company stock valued at $4,720,774. Company insiders own 15.90% of the company's stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. SBI Securities Co. Ltd. acquired a new position in Elastic in the fourth quarter valued at about $25,000. Fourth Dimension Wealth LLC bought a new stake in shares of Elastic in the 4th quarter valued at about $26,000. Venturi Wealth Management LLC raised its position in shares of Elastic by 793.3% in the 4th quarter. Venturi Wealth Management LLC now owns 268 shares of the company's stock valued at $27,000 after acquiring an additional 238 shares during the period. Smartleaf Asset Management LLC boosted its stake in Elastic by 126.4% during the 4th quarter. Smartleaf Asset Management LLC now owns 283 shares of the company's stock worth $28,000 after acquiring an additional 158 shares during the last quarter. Finally, Cloud Capital Management LLC acquired a new stake in Elastic in the first quarter worth $25,000. 97.03% of the stock is currently owned by institutional investors.

Elastic Company Profile

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.