Elastic (NYSE:ESTC) Given New $106.00 Price Target at Guggenheim

Key Points

• Guggenheim cut its price target on Elastic from $116 to $106 while keeping a buy rating, implying roughly 90% upside from the prior close.
• Other analysts have also recently trimmed targets, but the stock still carries a Moderate Buy consensus with 17 buy ratings, 13 holds, and 1 sell, and an average price target of $90.38.
• Elastic recently beat earnings and revenue estimates, reporting $0.73 EPS on $449.9 million in revenue, though insider selling and the stock’s recent trading level around $55.75 suggest mixed near-term sentiment.

Elastic (NYSE:ESTC - Get Free Report) had its price objective lowered by equities research analysts at Guggenheim from $116.00 to $106.00 in a research report issued on Tuesday,Benzinga reports. The firm presently has a "buy" rating on the stock. Guggenheim's price objective would suggest a potential upside of 90.13% from the company's previous close.

A number of other equities analysts have also issued reports on the stock. Weiss Ratings reaffirmed a "sell (d)" rating on shares of Elastic in a research report on Wednesday, January 21st. Citigroup decreased their price target on shares of Elastic from $115.00 to $95.00 and set a "buy" rating on the stock in a research report on Friday, February 20th. Piper Sandler dropped their price objective on shares of Elastic from $110.00 to $85.00 and set an "overweight" rating on the stock in a report on Friday, February 27th. JPMorgan Chase & Co. reduced their target price on shares of Elastic from $113.00 to $98.00 and set an "overweight" rating for the company in a research note on Friday, February 20th. Finally, TD Cowen reissued a "hold" rating on shares of Elastic in a research report on Monday, February 23rd. Seventeen equities research analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $90.38.

Elastic Stock Performance

Shares of NYSE ESTC traded up $1.84 during trading hours on Tuesday, hitting $55.75. 133,825 shares of the company's stock were exchanged, compared to its average volume of 1,985,904. Elastic has a 1-year low of $42.05 and a 1-year high of $96.07. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.82 and a quick ratio of 1.82. The stock has a market capitalization of $5.77 billion, a price-to-earnings ratio of -69.60, a PEG ratio of 63.83 and a beta of 0.88. The company's 50-day moving average price is $49.91 and its 200-day moving average price is $64.72.

Elastic (NYSE:ESTC - Get Free Report) last released its earnings results on Thursday, February 26th. The company reported $0.73 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.64 by $0.09. Elastic had a negative return on equity of 2.34% and a negative net margin of 5.04%.The firm had revenue of $449.88 million for the quarter, compared to analyst estimates of $438.37 million. During the same quarter last year, the firm posted $0.63 EPS. The company's revenue was up 17.7% on a year-over-year basis. Elastic has set its FY 2026 guidance at 2.500-2.540 EPS and its Q4 2026 guidance at 0.550-0.570 EPS. On average, sell-side analysts expect that Elastic will post 0.04 earnings per share for the current fiscal year.

Insider Activity

In other Elastic news, CRO Mark Eugene Dodds sold 3,723 shares of Elastic stock in a transaction that occurred on Monday, March 9th. The stock was sold at an average price of $52.28, for a total transaction of $194,638.44. Following the sale, the executive directly owned 152,563 shares of the company's stock, valued at approximately $7,975,993.64. The trade was a 2.38% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Carolyn Herzog sold 3,989 shares of the stock in a transaction that occurred on Monday, March 9th. The stock was sold at an average price of $52.28, for a total value of $208,544.92. Following the completion of the transaction, the insider directly owned 85,335 shares of the company's stock, valued at approximately $4,461,313.80. The trade was a 4.47% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 38,188 shares of company stock valued at $1,996,469. 12.70% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in ESTC. Focus Partners Wealth bought a new stake in shares of Elastic in the 1st quarter worth about $494,000. Northwestern Mutual Wealth Management Co. lifted its holdings in Elastic by 17.3% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,159 shares of the company's stock valued at $98,000 after purchasing an additional 171 shares during the last quarter. Invesco Ltd. boosted its position in Elastic by 11.7% in the second quarter. Invesco Ltd. now owns 95,332 shares of the company's stock valued at $8,039,000 after buying an additional 9,990 shares in the last quarter. EverSource Wealth Advisors LLC boosted its position in Elastic by 400.0% in the second quarter. EverSource Wealth Advisors LLC now owns 2,110 shares of the company's stock valued at $178,000 after buying an additional 1,688 shares in the last quarter. Finally, Cerity Partners LLC grew its stake in Elastic by 24.7% during the second quarter. Cerity Partners LLC now owns 30,545 shares of the company's stock worth $2,576,000 after buying an additional 6,056 shares during the last quarter. 97.03% of the stock is owned by institutional investors.

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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