Scotiabank Comments on Elastic's FY2026 Earnings (NYSE:ESTC)

Elastic (NYSE:ESTC - Free Report) - Equities research analysts at Scotiabank raised their FY2026 EPS estimates for Elastic in a research note issued on Monday, June 9th. Scotiabank analyst P. Colville now anticipates that the company will post earnings of ($0.21) per share for the year, up from their previous forecast of ($0.87). Scotiabank has a "Sector Outperform" rating and a $95.00 price objective on the stock. The consensus estimate for Elastic's current full-year earnings is ($0.77) per share.

Elastic (NYSE:ESTC - Get Free Report) last announced its earnings results on Thursday, May 29th. The company reported $0.47 earnings per share for the quarter, beating the consensus estimate of $0.37 by $0.10. The business had revenue of $388.43 million for the quarter, compared to the consensus estimate of $380.61 million. Elastic had a net margin of 4.39% and a negative return on equity of 13.20%. The business's revenue for the quarter was up 15.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.21 earnings per share.

Other analysts have also recently issued reports about the stock. Canaccord Genuity Group lowered their price target on shares of Elastic from $135.00 to $110.00 and set a "buy" rating on the stock in a report on Monday, June 2nd. Piper Sandler cut their target price on shares of Elastic from $135.00 to $120.00 and set an "overweight" rating for the company in a report on Friday, May 30th. Morgan Stanley dropped their price target on shares of Elastic from $140.00 to $120.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 16th. JPMorgan Chase & Co. lowered their target price on shares of Elastic from $120.00 to $110.00 and set an "overweight" rating on the stock in a research note on Friday, May 30th. Finally, Wedbush lowered their price target on shares of Elastic from $135.00 to $110.00 and set an "outperform" rating on the stock in a research report on Friday, May 30th. Eight research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Elastic currently has a consensus rating of "Moderate Buy" and an average target price of $113.63.

Elastic Stock Up 0.1%

Elastic stock traded up $0.12 during midday trading on Thursday, hitting $83.29. 1,142,963 shares of the company's stock were exchanged, compared to its average volume of 1,501,402. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.99 and a current ratio of 1.99. Elastic has a 12 month low of $69.00 and a 12 month high of $123.96. The firm has a 50-day moving average of $84.89 and a two-hundred day moving average of $97.05. The company has a market cap of $8.70 billion, a PE ratio of 151.44 and a beta of 1.07.

Insider Transactions at Elastic

In other news, CEO Ashutosh Kulkarni sold 5,000 shares of the stock in a transaction that occurred on Tuesday, March 25th. The stock was sold at an average price of $102.64, for a total value of $513,200.00. Following the completion of the sale, the chief executive officer now directly owns 371,591 shares of the company's stock, valued at approximately $38,140,100.24. This represents a 1.33% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Ken Exner sold 6,918 shares of the stock in a transaction on Monday, June 9th. The stock was sold at an average price of $86.91, for a total value of $601,243.38. Following the sale, the insider now directly owns 230,494 shares of the company's stock, valued at approximately $20,032,233.54. This represents a 2.91% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 53,413 shares of company stock valued at $4,720,774. 15.90% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. Acadian Asset Management LLC raised its position in Elastic by 185.2% in the first quarter. Acadian Asset Management LLC now owns 20,279 shares of the company's stock worth $1,805,000 after acquiring an additional 13,169 shares in the last quarter. Focus Partners Wealth purchased a new position in shares of Elastic in the first quarter valued at $494,000. Bayforest Capital Ltd increased its position in shares of Elastic by 542.8% in the first quarter. Bayforest Capital Ltd now owns 10,902 shares of the company's stock valued at $971,000 after buying an additional 9,206 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of Elastic by 3.0% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 429,526 shares of the company's stock valued at $38,271,000 after buying an additional 12,510 shares in the last quarter. Finally, Prostatis Group LLC purchased a new position in shares of Elastic in the first quarter valued at $325,000. Hedge funds and other institutional investors 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.