Elastic (NYSE:ESTC) Sets New 52-Week Low - Here's Why

Key Points

• Elastic's shares hit a new 52-week low of $46.56 (last $46.03) and fell about 4.3% as several analysts cut price targets, though the consensus remains a "Moderate Buy" with an average target of $95.25.
• The company beat quarterly expectations with $0.73 EPS and $449.9M revenue and issued FY2026 EPS guidance (2.500–2.540), but it still reports a negative net margin and has seen recent insider selling.

Elastic N.V. (NYSE:ESTC - Get Free Report)'s share price hit a new 52-week low during trading on Thursday . The company traded as low as $46.56 and last traded at $46.0250, with a volume of 49128 shares changing hands. The stock had previously closed at $48.72.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. 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. Royal Bank Of Canada dropped their target price on Elastic from $115.00 to $95.00 and set an "outperform" rating on the stock in a report on Monday, January 5th. Barclays dropped their target price on Elastic from $78.00 to $76.00 and set an "overweight" rating on the stock in a report on Friday, February 27th. Truist Financial dropped their target price on Elastic from $105.00 to $80.00 and set a "buy" rating on the stock in a report on Friday, February 27th. Finally, Canaccord Genuity Group dropped their target price on Elastic from $115.00 to $90.00 and set a "buy" rating on the stock in a report on Friday, February 27th. Seventeen research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $95.25.

Elastic Stock Down 4.3%

The company has a quick ratio of 1.82, a current ratio of 1.82 and a debt-to-equity ratio of 0.72. The company has a market capitalization of $4.82 billion, a PE ratio of -58.30, a P/E/G ratio of 65.10 and a beta of 1.03. The stock has a 50-day moving average of $55.57 and a 200 day moving average of $71.54.

Elastic (NYSE:ESTC - Get Free Report) last issued its quarterly earnings results on Thursday, February 26th. The company reported $0.73 EPS for the quarter, beating analysts' consensus estimates of $0.64 by $0.09. The company had revenue of $449.88 million during the quarter, compared to the consensus estimate of $438.37 million. Elastic had a negative return on equity of 2.34% and a negative net margin of 5.04%.Elastic's revenue was up 17.7% on a year-over-year basis. During the same period last year, the business posted $0.63 earnings per share. Elastic has set its FY 2026 guidance at 2.500-2.540 EPS and its Q4 2026 guidance at 0.550-0.570 EPS. Sell-side analysts anticipate that Elastic N.V. will post -0.77 EPS for the current year.

Insider Activity at Elastic

In related news, insider Ken Exner sold 4,310 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 transaction of $225,326.80. Following the completion of the sale, the insider directly owned 222,728 shares of the company's stock, valued at approximately $11,644,219.84. This trade represents a 1.90% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Jane E. Bone sold 887 shares of the stock in a transaction that occurred on Monday, March 9th. The shares were sold at an average price of $52.28, for a total value of $46,372.36. Following the sale, the chief accounting officer directly owned 42,284 shares of the company's stock, valued at $2,210,607.52. The trade was a 2.05% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 39,375 shares of company stock valued at $2,091,797 in the last ninety days. Insiders own 12.70% of the company's stock.

Institutional Trading of Elastic

A number of large investors have recently bought and sold shares of the company. Citigroup Inc. grew its position in shares of Elastic by 89.0% in the third quarter. Citigroup Inc. now owns 89,357 shares of the company's stock valued at $7,550,000 after purchasing an additional 42,087 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its position in shares of Elastic by 50.8% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 891,279 shares of the company's stock valued at $75,304,000 after purchasing an additional 300,264 shares in the last quarter. J. Safra Sarasin Holding AG grew its position in shares of Elastic by 43.0% in the fourth quarter. J. Safra Sarasin Holding AG now owns 189,138 shares of the company's stock valued at $14,269,000 after purchasing an additional 56,892 shares in the last quarter. Cinctive Capital Management LP purchased a new position in shares of Elastic in the third quarter valued at $13,608,000. Finally, Thematics Asset Management grew its position in shares of Elastic by 10.2% in the third quarter. Thematics Asset Management now owns 523,283 shares of the company's stock valued at $44,212,000 after purchasing an additional 48,346 shares in the last quarter. 97.03% of the stock is owned by hedge funds and other 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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