Elastic (NYSE:ESTC) Price Target Raised to $100.00 at Truist Financial

Key Points

• Truist Financial raised Elastic’s price target from $80 to $100 and maintained a “buy” rating, implying 16.14% upside from the prior close.
• Analyst sentiment is broadly positive but mixed: 17 analysts rate Elastic a Buy and 13 rate it Hold, producing a “Moderate Buy” consensus rating and an average price target of $82.93.
• Elastic reported quarterly EPS of $0.61 versus expectations of $0.56, while revenue reached $450.68 million, up 16% year over year and above estimates.

Elastic (NYSE:ESTC - Get Free Report) had its price objective increased by Truist Financial from $80.00 to $100.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage currently has a "buy" rating on the stock. Truist Financial's target price would indicate a potential upside of 16.14% from the company's previous close.

Other equities research analysts have also recently issued reports about the company. Rosenblatt Securities dropped their price objective on Elastic from $90.00 to $83.00 and set a "buy" rating for the company in a research note on Friday, June 26th. DA Davidson decreased their price target on shares of Elastic from $65.00 to $60.00 and set a "neutral" rating for the company in a research note on Friday, May 29th. Royal Bank Of Canada boosted their price objective on shares of Elastic from $70.00 to $87.00 and gave the company an "outperform" rating in a research note on Friday, August 14th. Weiss Ratings raised Elastic from a "sell (d+)" rating to a "hold (c-)" rating in a report on Wednesday, July 15th. Finally, Wall Street Zen cut Elastic from a "buy" rating to a "hold" rating in a report on Saturday, June 13th. Seventeen research analysts have rated the stock with a Buy rating and thirteen have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $82.93.

Elastic Stock Performance

ESTC stock traded down $1.24 during trading on Thursday, hitting $86.10. 509,385 shares of the company traded hands, compared to its average volume of 2,064,584. The company has a market cap of $8.95 billion, a PE ratio of 24.60, a P/E/G ratio of 23.03 and a beta of 0.98. The stock's 50-day simple moving average is $64.68 and its 200 day simple moving average is $57.85. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.68 and a quick ratio of 1.68. Elastic has a 1 year low of $42.05 and a 1 year high of $96.07.

Elastic (NYSE:ESTC - Get Free Report) last posted its quarterly earnings data on Thursday, May 28th. The company reported $0.61 EPS for the quarter, beating analysts' consensus estimates of $0.56 by $0.05. The business had revenue of $450.68 million during the quarter, compared to analysts' expectations of $446.66 million. Elastic had a negative return on equity of 1.82% and a net margin of 21.14%.The business's revenue was up 16.0% compared to the same quarter last year. During the same period in the previous year, the business earned $0.47 earnings per share. Elastic has set its FY 2027 guidance at 3.210-3.290 EPS and its Q1 2027 guidance at 0.570-0.590 EPS. On average, equities analysts expect that Elastic will post 0.22 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Elastic news, CEO Ashutosh Kulkarni sold 40,373 shares of Elastic stock in a transaction dated Tuesday, June 9th. The stock was sold at an average price of $60.61, for a total transaction of $2,447,007.53. Following the transaction, the chief executive officer directly owned 628,752 shares in the company, valued at approximately $38,108,658.72. The trade was a 6.03% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Carolyn Herzog sold 9,485 shares of the stock in a transaction that occurred on Tuesday, June 9th. The stock was sold at an average price of $60.61, for a total value of $574,885.85. Following the transaction, the insider owned 128,439 shares in the company, valued at $7,784,687.79. The trade was a 6.88% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 110,099 shares of company stock worth $6,673,100 over the last ninety days. Insiders own 12.70% of the company's stock.

Institutional Trading of Elastic

A number of institutional investors have recently bought and sold shares of ESTC. AQR Capital Management LLC lifted its stake in shares of Elastic by 153.4% in the 4th quarter. AQR Capital Management LLC now owns 7,545,081 shares of the company's stock valued at $569,201,000 after purchasing an additional 4,567,720 shares during the last quarter. Pictet Asset Management Holding SA lifted its holdings in Elastic by 43.2% in the first quarter. Pictet Asset Management Holding SA now owns 6,492,717 shares of the company's stock worth $324,550,000 after acquiring an additional 1,958,219 shares during the last quarter. FIL Ltd raised its position in shares of Elastic by 36.9% during the 4th quarter. FIL Ltd now owns 3,628,748 shares of the company's stock worth $273,753,000 after buying an additional 977,578 shares in the last quarter. First Trust Advisors LP boosted its position in shares of Elastic by 516.1% in the 1st quarter. First Trust Advisors LP now owns 2,627,636 shares of the company's stock valued at $131,356,000 after purchasing an additional 2,201,140 shares during the period. Finally, Geode Capital Management LLC raised its position in Elastic by 2.9% during the fourth quarter. Geode Capital Management LLC now owns 1,724,508 shares of the company's stock valued at $130,124,000 after acquiring an additional 49,198 shares in the last quarter. 97.03% of the stock is currently owned by institutional investors and hedge funds.

Elastic Company Profile

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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