Elastic's (ESTC) "Buy" Rating Reaffirmed at Rosenblatt Securities

Key Points

• Rosenblatt Securities reaffirmed its “buy” rating on Elastic and kept a $110 price target, implying roughly 101% upside from the stock’s current price.
• Other analysts have been more cautious recently, with several lowering price targets; MarketBeat shows a consensus rating of Moderate Buy and an average target price of $88.76.
• Elastic most recently beat earnings and revenue estimates, reporting $0.73 EPS on $449.88 million in revenue, while the stock was trading near $54.71 and down slightly on the day.

Elastic (NYSE:ESTC - Get Free Report)'s stock had its "buy" rating restated by research analysts at Rosenblatt Securities in a report issued on Tuesday,Benzinga reports. They currently have a $110.00 target price on the stock. Rosenblatt Securities' target price points to a potential upside of 101.05% from the company's current price.

Several other brokerages have also recently weighed in on ESTC. Piper Sandler dropped their price target on shares of Elastic from $110.00 to $85.00 and set an "overweight" rating for the company in a research report on Friday, February 27th. Royal Bank Of Canada dropped their target price on shares of Elastic from $80.00 to $70.00 and set an "outperform" rating for the company in a research report on Thursday, April 16th. DA Davidson dropped their target price on shares of Elastic from $80.00 to $65.00 and set a "neutral" rating for the company in a research report on Monday, March 2nd. Canaccord Genuity Group dropped their target price on shares of Elastic from $115.00 to $90.00 and set a "buy" rating for the company in a research report on Friday, February 27th. Finally, Oppenheimer dropped their target price on shares of Elastic from $100.00 to $85.00 and set an "outperform" rating for the company in a research report on Friday, February 27th. Eighteen analysts have rated the stock with a Buy rating, twelve have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $88.76.

Elastic Trading Down 0.2%

Shares of ESTC opened at $54.71 on Tuesday. The stock has a market capitalization of $5.66 billion, a P/E ratio of -68.39, a PEG ratio of 69.14 and a beta of 0.88. 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 firm has a fifty day simple moving average of $50.09 and a two-hundred day simple moving average of $63.51. Elastic has a twelve month low of $42.05 and a twelve month high of $96.07.

Elastic (NYSE:ESTC - Get Free Report) last announced its quarterly earnings results on Thursday, February 26th. The company reported $0.73 earnings per share for the quarter, beating the consensus estimate of $0.64 by $0.09. The business had revenue of $449.88 million during the quarter, compared to analysts' expectations of $438.37 million. Elastic had a negative net margin of 5.04% and a negative return on equity of 2.34%. The firm's revenue for the quarter was up 17.7% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.63 EPS. 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, research analysts anticipate that Elastic will post 0.04 EPS for the current year.

Insider Buying and Selling

In related news, insider Ken Exner sold 4,310 shares of the stock in a transaction dated Monday, March 9th. The shares were sold at an average price of $52.28, for a total value of $225,326.80. Following the completion of the transaction, the insider directly owned 222,728 shares in the company, valued at $11,644,219.84. This trade represents a 1.90% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Carolyn Herzog sold 3,989 shares of the stock in a transaction dated Monday, March 9th. The stock was sold at an average price of $52.28, for a total transaction of $208,544.92. Following the completion of the transaction, the insider 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 SEC filing for this sale provides additional information. Insiders sold 38,188 shares of company stock worth $1,996,469 over the last 90 days. Corporate insiders own 12.70% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. AQR Capital Management LLC increased its stake in Elastic by 153.4% during 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 in the last quarter. First Trust Advisors LP increased its stake in Elastic by 516.1% during 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 in the last quarter. Pictet Asset Management Holding SA increased its stake in Elastic by 43.2% during the 1st quarter. Pictet Asset Management Holding SA now owns 6,492,717 shares of the company's stock valued at $324,550,000 after purchasing an additional 1,958,219 shares in the last quarter. FIL Ltd increased its stake in Elastic by 36.9% during the 4th quarter. FIL Ltd now owns 3,628,748 shares of the company's stock valued at $273,753,000 after purchasing an additional 977,578 shares in the last quarter. Finally, Alyeska Investment Group L.P. increased its stake in Elastic by 490.4% during the 3rd quarter. Alyeska Investment Group L.P. now owns 1,113,503 shares of the company's stock valued at $94,080,000 after purchasing an additional 924,911 shares in the last quarter. 97.03% of the stock is currently owned by institutional investors.

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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