Elastic (NYSE:ESTC) Given New $59.00 Price Target at Cantor Fitzgerald

Key Points

• Cantor Fitzgerald lowered its price target on Elastic from $66 to $59 while keeping a neutral rating, implying about 7.8% upside from the current price.
• Analyst sentiment is mixed but still leans positive overall: Elastic has 18 Buy ratings, 12 Hold ratings, and 1 Sell rating, with a MarketBeat consensus of “Moderate Buy” and an average target of $88.76.
• Elastic reported solid quarterly results, beating EPS and revenue estimates, but the company still posted negative net margin and return on equity; shares were down slightly on the day and insiders have recently been selling stock.

Elastic (NYSE:ESTC - Get Free Report) had its price objective cut by Cantor Fitzgerald from $66.00 to $59.00 in a report issued on Tuesday,Benzinga reports. The firm currently has a "neutral" rating on the stock. Cantor Fitzgerald's price target would indicate a potential upside of 7.84% from the company's current price.

Other equities analysts have also issued research reports about the company. William Blair initiated coverage on Elastic in a report on Friday. They issued an "outperform" rating on the stock. The Goldman Sachs Group initiated coverage on Elastic in a report on Tuesday, April 21st. They issued a "neutral" rating and a $50.00 target price on the stock. Citigroup dropped their target price on Elastic from $115.00 to $95.00 and set a "buy" rating on the stock in a report on Friday, February 20th. Wells Fargo & Company dropped their target price on Elastic from $75.00 to $60.00 and set an "equal weight" rating on the stock in a report on Friday, February 27th. Finally, Guggenheim dropped their target price on Elastic from $116.00 to $106.00 and set a "buy" rating on the stock in a report on Tuesday, May 19th. Eighteen analysts have rated the stock with a Buy rating, twelve have given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $88.76.

Elastic Stock Down 0.2%

Elastic stock opened at $54.71 on Tuesday. Elastic has a twelve month low of $42.05 and a twelve month high of $96.07. The stock's fifty day simple moving average is $50.09 and its 200-day simple moving average is $63.51. The company has a current ratio of 1.82, a quick ratio of 1.82 and a debt-to-equity ratio of 0.72. The firm has a market capitalization of $5.66 billion, a P/E ratio of -68.39, a P/E/G ratio of 69.14 and a beta of 0.88.

Elastic (NYSE:ESTC - Get Free Report) last posted its quarterly earnings data on Thursday, February 26th. The company reported $0.73 earnings per share for the quarter, topping 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 business had revenue of $449.88 million for the quarter, compared to analyst estimates of $438.37 million. During the same quarter in the prior year, the company earned $0.63 earnings per share. 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. As a group, equities analysts expect that Elastic will post 0.04 earnings per share for the current fiscal year.

Insider Activity at Elastic

In other Elastic news, CTO Shay Banon sold 4,283 shares of the firm's stock in a transaction dated Monday, March 9th. The stock was sold at an average price of $52.28, for a total transaction of $223,915.24. Following the transaction, the chief technology officer owned 4,354,945 shares of the company's stock, valued at approximately $227,676,524.60. This trade represents a 0.10% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Ashutosh Kulkarni sold 17,756 shares of the firm's stock in a transaction dated Monday, March 9th. The stock was sold at an average price of $52.28, for a total value of $928,283.68. Following the transaction, the chief executive officer directly owned 409,145 shares in the company, valued at approximately $21,390,100.60. The trade was a 4.16% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 38,188 shares of company stock valued at $1,996,469. Corporate insiders own 12.70% of the company's stock.

Hedge Funds Weigh In On Elastic

Several hedge funds have recently made changes to their positions in ESTC. Sound Income Strategies LLC purchased a new position in shares of Elastic during the fourth quarter worth about $25,000. Bessemer Group Inc. purchased a new position in shares of Elastic during the first quarter worth about $25,000. Geneos Wealth Management Inc. purchased a new position in shares of Elastic during the second quarter worth about $31,000. Activest Wealth Management grew its holdings in shares of Elastic by 3,181.3% during the fourth quarter. Activest Wealth Management now owns 525 shares of the company's stock worth $40,000 after purchasing an additional 509 shares during the last quarter. Finally, Aster Capital Management DIFC Ltd grew its holdings in shares of Elastic by 206.1% during the fourth quarter. Aster Capital Management DIFC Ltd now owns 551 shares of the company's stock worth $42,000 after purchasing an additional 371 shares during the last quarter. Hedge funds and other institutional investors own 97.03% of the company's stock.

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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