Robert W. Baird Forecasts Strong Price Appreciation for Elastic (NYSE:ESTC) Stock

Key Points

• Robert W. Baird raised its target price for Elastic (NYSE:ESTC) from $120.00 to $130.00, indicating a potential upside of 48.60% from the last closing price.
• Several other analysts also increased their target prices, with Stifel Nicolaus setting a target at $134.00 and Mizuho at $119.00, affirming a general positive sentiment on the stock.
• Elastic recently reported a revenue increase of 19.5% year-over-year, although it missed earnings expectations, reporting ($0.08) EPS against the consensus estimate of $0.42.

Elastic (NYSE:ESTC - Get Free Report) had its target price boosted by Robert W. Baird from $120.00 to $130.00 in a report released on Friday,Benzinga reports. The brokerage presently has an "outperform" rating on the stock. Robert W. Baird's price target would indicate a potential upside of 48.60% from the company's previous close.

Other equities analysts have also issued reports about the stock. Stifel Nicolaus raised their target price on shares of Elastic from $112.00 to $134.00 and gave the stock a "buy" rating in a research report on Friday, August 29th. Mizuho raised their target price on shares of Elastic from $100.00 to $119.00 and gave the stock an "outperform" rating in a research report on Friday, August 29th. Royal Bank Of Canada raised their target price on shares of Elastic from $106.00 to $125.00 and gave the stock an "outperform" rating in a research report on Friday, August 29th. Scotiabank set a $90.00 target price on shares of Elastic and gave the stock a "sector perform" rating in a research report on Monday. Finally, Canaccord Genuity Group lifted their price objective on shares of Elastic from $110.00 to $120.00 and gave the company a "buy" rating in a report on Friday, August 29th. One analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $119.00.

Elastic Price Performance

Shares of ESTC traded up $5.93 during midday trading on Friday, hitting $87.48. 1,751,657 shares of the company traded hands, compared to its average volume of 1,730,537. The firm has a 50 day moving average of $83.27 and a 200-day moving average of $84.68. Elastic has a 52 week low of $70.14 and a 52 week high of $118.84. The stock has a market cap of $9.30 billion, a price-to-earnings ratio of -110.33 and a beta of 1.05. The company has a debt-to-equity ratio of 0.59, a quick ratio of 2.09 and a current ratio of 2.09.

Elastic (NYSE:ESTC - Get Free Report) last released its quarterly earnings data on Thursday, August 28th. The company reported ($0.08) EPS for the quarter, missing the consensus estimate of $0.42 by ($0.50). The company had revenue of $415.29 million for the quarter, compared to the consensus estimate of $397.13 million. Elastic had a negative net margin of 5.38% and a negative return on equity of 1.68%. The firm's revenue for the quarter was up 19.5% on a year-over-year basis. During the same period last year, the company earned $0.35 EPS. Elastic has set its FY 2026 guidance at 2.290-2.350 EPS. Q2 2026 guidance at 0.560-0.580 EPS. On average, analysts forecast that Elastic will post -0.77 EPS for the current fiscal year.

Elastic announced that its board has approved a stock buyback program on Thursday, October 9th that authorizes the company to buyback $0.00 in shares. This buyback authorization authorizes the company to purchase shares of its stock through open market purchases. Stock buyback programs are typically a sign that the company's management believes its stock is undervalued.

Insider Activity at Elastic

In other Elastic news, insider Carolyn Herzog sold 5,143 shares of the company's stock in a transaction dated Tuesday, September 9th. The shares were sold at an average price of $90.12, for a total value of $463,487.16. Following the completion of the transaction, the insider owned 94,677 shares in the company, valued at approximately $8,532,291.24. This represents a 5.15% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CRO Mark Eugene Dodds sold 5,037 shares of the company's stock in a transaction dated Tuesday, September 9th. The stock was sold at an average price of $90.12, for a total transaction of $453,934.44. Following the completion of the transaction, the executive owned 167,284 shares of the company's stock, valued at approximately $15,075,634.08. This trade represents a 2.92% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 350,792 shares of company stock valued at $30,978,369 over the last ninety days. Corporate insiders own 12.70% of the company's stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of ESTC. Massachusetts Financial Services Co. MA raised its position in shares of Elastic by 5,437.6% in the first quarter. Massachusetts Financial Services Co. MA now owns 2,288,128 shares of the company's stock worth $203,872,000 after acquiring an additional 2,246,808 shares during the period. AQR Capital Management LLC increased its stake in shares of Elastic by 6,651.3% during the first quarter. AQR Capital Management LLC now owns 1,403,859 shares of the company's stock worth $122,978,000 after purchasing an additional 1,383,065 shares in the last quarter. Driehaus Capital Management LLC increased its stake in shares of Elastic by 1,450.8% during the first quarter. Driehaus Capital Management LLC now owns 880,454 shares of the company's stock worth $78,448,000 after purchasing an additional 823,680 shares in the last quarter. Qube Research & Technologies Ltd increased its stake in shares of Elastic by 302.1% during the second quarter. Qube Research & Technologies Ltd now owns 932,630 shares of the company's stock worth $78,649,000 after purchasing an additional 700,697 shares in the last quarter. Finally, BNP Paribas Financial Markets increased its stake in shares of Elastic by 305.9% during the second quarter. BNP Paribas Financial Markets now owns 832,353 shares of the company's stock worth $70,192,000 after purchasing an additional 627,284 shares in the last quarter. Institutional investors and hedge funds own 97.03% of the company's stock.

About Elastic

Elastic N.V., a data analytics company, delivers solutions designed to run in public or private clouds in multi-cloud environments. It primarily offers Elastic Stack, a set of software products that ingest and store data from various sources and formats, as well as performs search, analysis, and visualization on that data.

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