The Goldman Sachs Group Upgrades Elastic (NYSE:ESTC) to "Hold"

Key Points

• The Goldman Sachs Group upgraded Elastic from a "neutral" rating to a "hold."
• Analyst consensus shows 17 Buys, 12 Holds and 1 Sell, giving Elastic an average rating of Moderate Buy and a consensus price target of $92.44.
• Elastic posted an EPS beat ( $0.73 vs. $0.64 est.) and 17.7% revenue growth to $449.9M, and provided FY2026 EPS guidance of 2.500–2.540, even as the stock trades near $48.35, well below its one-year high.

Elastic (NYSE:ESTC - Get Free Report) was upgraded by stock analysts at The Goldman Sachs Group from a "neutral" rating to a "hold" rating in a note issued to investors on Tuesday, MarketBeat Ratings reports.

Other analysts have also recently issued reports about the company. Weiss Ratings reissued a "sell (d)" rating on shares of Elastic in a research note on Wednesday, January 21st. DA Davidson lowered their target price on Elastic from $80.00 to $65.00 and set a "neutral" rating for the company in a research note on Monday, March 2nd. Jefferies Financial Group lowered their target price on Elastic from $105.00 to $95.00 and set a "buy" rating for the company in a research note on Monday, January 5th. Royal Bank Of Canada lowered their target price on Elastic from $80.00 to $70.00 and set an "outperform" rating for the company in a research note on Thursday, April 16th. Finally, TD Cowen reissued a "hold" rating on shares of Elastic in a research note on Monday, February 23rd. Seventeen research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, Elastic currently has an average rating of "Moderate Buy" and a consensus price target of $92.44.

Elastic Stock Performance

Shares of ESTC stock opened at $48.35 on Tuesday. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.82 and a quick ratio of 1.82. The stock has a market cap of $5.00 billion, a PE ratio of -60.44, a price-to-earnings-growth ratio of 62.90 and a beta of 1.03. The stock has a 50-day moving average of $52.75 and a 200-day moving average of $68.91. Elastic has a one year low of $42.05 and a one year 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 EPS for the quarter, beating analysts' consensus estimates of $0.64 by $0.09. Elastic had a negative return on equity of 2.34% and a negative net margin of 5.04%.The company had revenue of $449.88 million during the quarter, compared to analysts' expectations of $438.37 million. During the same period in the prior year, the business posted $0.63 EPS. Elastic's revenue was up 17.7% on a year-over-year basis. Elastic has set its FY 2026 guidance at 2.500-2.540 EPS and its Q4 2026 guidance at 0.550-0.570 EPS. As a group, sell-side analysts expect that Elastic will post 0.04 earnings per share for the current year.

Insider Activity

In other Elastic news, CEO Ashutosh Kulkarni sold 17,756 shares of the company's 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 $928,283.68. Following the completion of the transaction, the chief executive officer owned 409,145 shares of the company's stock, valued at $21,390,100.60. This represents a 4.16% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CRO Mark Eugene Dodds sold 3,723 shares of the company's stock in a transaction that occurred on Monday, March 9th. The stock was sold at an average price of $52.28, for a total value of $194,638.44. Following the transaction, the executive directly owned 152,563 shares of the company's stock, valued at approximately $7,975,993.64. This trade represents a 2.38% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 38,188 shares of company stock worth $1,996,469. 12.70% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Elastic

A number of large investors have recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in Elastic by 7.4% during the 3rd quarter. Vanguard Group Inc. now owns 10,206,204 shares of the company's stock worth $862,322,000 after acquiring an additional 705,991 shares during the last quarter. AQR Capital Management LLC boosted its position in Elastic by 153.4% during the 4th quarter. AQR Capital Management LLC now owns 7,545,081 shares of the company's stock worth $569,201,000 after acquiring an additional 4,567,720 shares during the last quarter. Pictet Asset Management Holding SA boosted its position in Elastic by 3.2% during the 4th quarter. Pictet Asset Management Holding SA now owns 4,534,498 shares of the company's stock worth $342,127,000 after acquiring an additional 138,974 shares during the last quarter. FIL Ltd boosted its position in Elastic by 36.9% during the 4th quarter. FIL Ltd now owns 3,628,748 shares of the company's stock worth $273,753,000 after acquiring an additional 977,578 shares during the last quarter. Finally, Geode Capital Management LLC boosted its position in Elastic by 2.9% during the 4th quarter. Geode Capital Management LLC now owns 1,724,508 shares of the company's stock worth $130,124,000 after acquiring an additional 49,198 shares during the last quarter. Institutional investors and hedge funds own 97.03% of the company's stock.

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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