What is Scotiabank's Forecast for Elastic FY2027 Earnings?

Key Points

• Scotiabank raised its FY2027 EPS estimate for Elastic to $0.44 from $0.13, while keeping a Sector Perform rating and a $58 price target. The new forecast is still above the current consensus estimate of $0.02 per share.
• Elastic beat quarterly expectations, reporting adjusted EPS of $0.61 versus the $0.56 estimate and revenue of $450.68 million versus $446.66 million expected. Revenue rose 16% year over year, and the company issued FY2027 guidance of $3.21 to $3.29 EPS.
• Analyst sentiment remains mixed but constructive, with 18 Buy ratings among 31 analysts and an average price target of about $80.04. Elastic’s shares were also trading higher on the day, opening at $67.89.

Elastic N.V. (NYSE:ESTC - Free Report) - Stock analysts at Scotiabank lifted their FY2027 earnings per share estimates for Elastic in a research note issued to investors on Friday, May 29th. Scotiabank analyst P. Colville now expects that the company will earn $0.44 per share for the year, up from their prior forecast of $0.13. Scotiabank currently has a "Sector Perform" rating and a $58.00 target price on the stock. The consensus estimate for Elastic's current full-year earnings is $0.02 per share.

Elastic (NYSE:ESTC - Get Free Report) last announced its quarterly earnings results on Thursday, May 28th. The company reported $0.61 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.56 by $0.05. The firm had revenue of $450.68 million for the quarter, compared to the consensus estimate of $446.66 million. Elastic had a net margin of 21.14% and a negative return on equity of 2.02%. The firm's quarterly revenue was up 16.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.47 earnings per share. Elastic has set its FY 2027 guidance at 3.210-3.290 EPS and its Q1 2027 guidance at 0.570-0.590 EPS.

Other analysts have also recently issued research reports about the stock. UBS Group reissued a "buy" rating and set a $85.00 target price on shares of Elastic in a research note on Friday. Guggenheim decreased their price objective on shares of Elastic from $116.00 to $106.00 and set a "buy" rating on the stock in a report on Tuesday, May 19th. Truist Financial dropped their price objective on Elastic from $105.00 to $80.00 and set a "buy" rating for the company in a research note on Friday, February 27th. Barclays lowered their target price on Elastic from $76.00 to $68.00 and set an "overweight" rating for the company in a report on Friday. Finally, Canaccord Genuity Group lowered their price objective on shares of Elastic from $90.00 to $80.00 and set a "buy" rating for the company in a research note on Friday. Eighteen analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, Elastic has an average rating of "Moderate Buy" and an average price target of $80.04.

Elastic Trading Up 4.9%

Shares of Elastic stock opened at $67.89 on Tuesday. The firm has a 50-day simple moving average of $50.63 and a two-hundred day simple moving average of $62.43. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.82 and a current ratio of 1.82. Elastic has a fifty-two week low of $42.05 and a fifty-two week high of $96.07. The company has a market cap of $7.03 billion, a P/E ratio of 19.40, a price-to-earnings-growth ratio of 122.42 and a beta of 0.88.

Insiders Place Their Bets

In other news, CRO Mark Eugene Dodds sold 3,723 shares of the company's stock in a transaction 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 sale, the executive directly owned 152,563 shares in the company, valued at $7,975,993.64. This represents a 2.38% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Carolyn Herzog sold 3,989 shares of the company's stock in a transaction that occurred on Monday, March 9th. The shares were sold at an average price of $52.28, for a total transaction of $208,544.92. Following the transaction, the insider directly owned 85,335 shares in the company, valued at $4,461,313.80. The trade was a 4.47% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 38,188 shares of company stock valued at $1,996,469. Corporate insiders own 12.70% of the company's stock.

Institutional Trading of Elastic

Hedge funds have recently made changes to their positions in the stock. Orion Porfolio Solutions LLC grew its position in shares of Elastic by 1.4% during the 3rd quarter. Orion Porfolio Solutions LLC now owns 8,593 shares of the company's stock valued at $726,000 after buying an additional 118 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its stake in shares of Elastic by 17.3% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,159 shares of the company's stock valued at $98,000 after purchasing an additional 171 shares in the last quarter. Public Employees Retirement System of Ohio lifted its holdings in Elastic by 0.6% in the third quarter. Public Employees Retirement System of Ohio now owns 28,323 shares of the company's stock worth $2,393,000 after purchasing an additional 175 shares during the period. Jones Financial Companies Lllp grew its position in Elastic by 6.9% in the 3rd quarter. Jones Financial Companies Lllp now owns 3,020 shares of the company's stock valued at $260,000 after buying an additional 194 shares in the last quarter. Finally, California State Teachers Retirement System increased its stake in Elastic by 0.3% during the 2nd quarter. California State Teachers Retirement System now owns 83,403 shares of the company's stock valued at $7,033,000 after buying an additional 219 shares during the period. Institutional investors and hedge funds own 97.03% of the company's stock.

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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