What is Scotiabank's Estimate for Elastic FY2027 Earnings?

Key Points

• Scotiabank raised its FY2027 EPS estimate for Elastic to $0.70, up from $0.21, while maintaining a “Sector Perform” rating and an $84 price target.
• Elastic’s latest quarterly results exceeded expectations, with EPS of $0.70 versus the $0.58 consensus and revenue of $478.11 million, up 15.2% year over year.
• Analyst sentiment remains broadly positive, with a “Moderate Buy” consensus rating and an average price target of $96.52, although insiders have sold about $91.3 million of stock over the past 90 days.

Elastic N.V. (NYSE:ESTC - Free Report) - Research analysts at Scotiabank boosted their FY2027 earnings per share estimates for shares of Elastic in a report issued on Thursday, September 10th. Scotiabank analyst P. Colville now forecasts that the company will post earnings per share of $0.70 for the year, up from their previous forecast of $0.21. Scotiabank currently has a "Sector Perform" rating and a $84.00 target price on the stock. The consensus estimate for Elastic's current full-year earnings is $0.64 per share.

Other analysts have also issued research reports about the company. Weiss Ratings raised Elastic from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Wednesday, July 15th. Needham & Company LLC restated a "hold" rating on shares of Elastic in a research note on Friday, August 28th. Robert W. Baird upped their price target on shares of Elastic from $95.00 to $120.00 and gave the stock an "outperform" rating in a research note on Friday, August 28th. Wedbush assumed coverage on shares of Elastic in a report on Friday. They set an "outperform" rating and a $125.00 price objective for the company. Finally, Wall Street Zen lowered shares of Elastic from a "buy" rating to a "hold" rating in a research report on Saturday, June 13th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating and thirteen have given a Hold rating to the stock. Based on data from MarketBeat, Elastic presently has an average rating of "Moderate Buy" and a consensus price target of $96.52.

Elastic Price Performance

Elastic stock opened at $85.02 on Tuesday. The company has a quick ratio of 1.81, a current ratio of 1.81 and a debt-to-equity ratio of 0.44. The business has a 50-day simple moving average of $75.32 and a 200 day simple moving average of $61.33. The stock has a market cap of $8.93 billion, a price-to-earnings ratio of 23.82, a PEG ratio of 7.08 and a beta of 1.03. Elastic has a 52 week low of $42.05 and a 52 week high of $108.00.

Elastic (NYSE:ESTC - Get Free Report) last issued its earnings results on Thursday, August 27th. The company reported $0.70 earnings per share for the quarter, topping analysts' consensus estimates of $0.58 by $0.12. Elastic had a net margin of 20.84% and a negative return on equity of 0.35%. The firm had revenue of $478.11 million during the quarter, compared to analyst estimates of $469.75 million. During the same quarter last year, the business earned $0.60 earnings per share. The company's quarterly revenue was up 15.2% on a year-over-year basis. Elastic has set its FY 2027 guidance at 3.290-3.370 EPS and its Q2 2027 guidance at 0.800-0.820 EPS.

Insider Activity

In other news, CRO Mark Dodds sold 9,673 shares of the stock in a transaction that occurred on Wednesday, September 9th. The shares were sold at an average price of $87.78, for a total transaction of $849,095.94. Following the transaction, the executive directly owned 288,538 shares in the company, valued at approximately $25,327,865.64. This trade represents a 3.24% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CTO Shay Banon sold 200,000 shares of the business's stock in a transaction dated Monday, August 31st. The stock was sold at an average price of $96.47, for a total transaction of $19,294,000.00. Following the completion of the transaction, the chief technology officer owned 1,854,978 shares of the company's stock, valued at $178,949,727.66. This represents a 9.73% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 991,434 shares of company stock valued at $91,303,286. 12.70% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. California State Teachers Retirement System raised its position in shares of Elastic by 5,082.4% in the second quarter. California State Teachers Retirement System now owns 5,419,694 shares of the company's stock valued at $309,031,000 after buying an additional 5,315,115 shares during the last quarter. First Trust Advisors LP grew its holdings in shares of Elastic by 516.1% during the 1st quarter. First Trust Advisors LP now owns 2,627,636 shares of the company's stock worth $131,356,000 after purchasing an additional 2,201,140 shares during the period. Pictet Asset Management Holding SA increased its position in shares of Elastic by 43.2% during the first quarter. Pictet Asset Management Holding SA now owns 6,492,717 shares of the company's stock valued at $324,550,000 after acquiring an additional 1,958,219 shares during the last quarter. Wellington Management Group LLP acquired a new stake in Elastic in the 2nd quarter valued at approximately $41,889,000. Finally, Assenagon Asset Management S.A. raised its holdings in shares of Elastic by 324.7% in the 1st quarter. Assenagon Asset Management S.A. now owns 900,017 shares of the company's stock valued at $44,992,000 after buying an additional 688,091 shares during the period. 97.03% of the stock is owned by institutional investors and hedge funds.

About Elastic

Elastic N.V. develops search, observability and security software for organizations that need to find, analyze and act on data. Its core technology, Elasticsearch, is a distributed search and analytics engine that can process structured and unstructured information from applications, websites, logs and other sources.

The company offers its platform through Elastic Cloud, a managed cloud service available across major public-cloud environments, as well as through self-managed deployments.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.