Elastic (NYSE:ESTC) Price Target Raised to $91.00 at Cantor Fitzgerald

Key Points

• Cantor Fitzgerald raised Elastic’s price target from $59 to $91 while maintaining a “neutral” rating, implying approximately 5.92% upside from the reported $85.91 price.
• Analyst sentiment remains broadly positive: Elastic has a “Moderate Buy” consensus rating, with 17 Buy and 13 Hold ratings and an average price target of $84.59.
• Elastic reported quarterly EPS of $0.61 versus the $0.56 estimate, while revenue rose 16% year over year to $450.68 million. Institutional investors own approximately 97.03% of the company, while insiders sold shares primarily to cover tax obligations.

Elastic (NYSE:ESTC - Get Free Report) had its price objective hoisted by equities researchers at Cantor Fitzgerald from $59.00 to $91.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage presently has a "neutral" rating on the stock. Cantor Fitzgerald's target price indicates a potential upside of 5.92% from the company's current price.

ESTC has been the subject of a number of other research reports. Royal Bank Of Canada upped their price target on Elastic from $70.00 to $87.00 and gave the stock an "outperform" rating in a report on Friday, August 14th. Guggenheim restated a "buy" rating and issued a $106.00 price objective on shares of Elastic in a research report on Wednesday, August 19th. William Blair assumed coverage on Elastic in a research note on Friday, May 22nd. They set an "outperform" rating for the company. Truist Financial increased their target price on Elastic from $80.00 to $100.00 and gave the company a "buy" rating in a research report on Thursday. Finally, Oppenheimer lifted their price target on shares of Elastic from $75.00 to $100.00 and gave the company an "outperform" rating in a research note on Thursday, August 13th. Seventeen research analysts have rated the stock with a Buy rating and thirteen have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $84.59.

Elastic Price Performance

NYSE:ESTC opened at $85.91 on Monday. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.68 and a quick ratio of 1.68. The company has a 50 day moving average price of $65.70 and a 200-day moving average price of $58.13. Elastic has a 1-year low of $42.05 and a 1-year high of $96.07. The firm has a market cap of $8.93 billion, a price-to-earnings ratio of 24.55, a price-to-earnings-growth ratio of 21.54 and a beta of 0.98.

Elastic (NYSE:ESTC - Get Free Report) last announced its quarterly earnings results on Thursday, May 28th. The company reported $0.61 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.56 by $0.05. Elastic had a net margin of 21.14% and a negative return on equity of 1.82%. The firm had revenue of $450.68 million for the quarter, compared to the consensus estimate of $446.66 million. During the same period in the prior year, the firm posted $0.47 earnings per share. The firm's quarterly revenue was up 16.0% compared to the same quarter last year. Elastic has set its FY 2027 guidance at 3.210-3.290 EPS and its Q1 2027 guidance at 0.570-0.590 EPS. Equities research analysts forecast that Elastic will post 0.24 EPS for the current year.

Insider Transactions at Elastic

In other Elastic news, CRO Mark Eugene Dodds sold 18,439 shares of Elastic stock in a transaction on Tuesday, June 9th. The shares were sold at an average price of $60.61, for a total transaction of $1,117,587.79. Following the sale, the executive owned 298,211 shares of the company's stock, valued at $18,074,568.71. The trade was a 5.82% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 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 business's 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 approximately $7,784,687.79. This represents a 6.88% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 110,099 shares of company stock worth $6,673,100 in the last quarter. 12.70% of the stock is owned by insiders.

Hedge Funds Weigh In On Elastic

Institutional investors have recently added to or reduced their stakes in the stock. Geneos Wealth Management Inc. acquired a new position in shares of Elastic during the 2nd quarter valued at about $31,000. Bessemer Group Inc. acquired a new stake in shares of Elastic during the 1st quarter worth about $25,000. Activest Wealth Management boosted its position in shares of Elastic by 3,181.2% during the fourth quarter. Activest Wealth Management now owns 525 shares of the company's stock worth $40,000 after buying an additional 509 shares during the period. Aster Capital Management DIFC Ltd increased its stake in Elastic by 206.1% during the 4th quarter. Aster Capital Management DIFC Ltd now owns 551 shares of the company's stock worth $42,000 after buying an additional 371 shares during the period. Finally, Basecamp Wealth Advisors LLC acquired a new stake in Elastic in the 1st quarter valued at about $28,000. Hedge funds and other institutional investors own 97.03% of the company's stock.

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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