Elastic (NYSE:ESTC) Price Target Lowered to $110.00 at Rosenblatt Securities

Elastic (NYSE:ESTC) had its target price dropped by analysts at Rosenblatt Securities from $130.00 to $110.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Rosenblatt Securities’ price objective suggests a potential upside of 62.32% from the company’s current price.

Several other equities research analysts have also recently commented on ESTC. Stifel Nicolaus cut their target price on Elastic from $134.00 to $108.00 and set a “buy” rating on the stock in a research note on Friday, November 21st. UBS Group cut their price objective on shares of Elastic from $125.00 to $110.00 and set a “buy” rating on the stock in a research report on Friday, November 21st. Bank of America decreased their target price on shares of Elastic from $111.00 to $90.00 and set a “neutral” rating for the company in a research report on Friday, November 21st. Weiss Ratings reiterated a “sell (d)” rating on shares of Elastic in a research note on Wednesday, January 21st. Finally, Cantor Fitzgerald reduced their price objective on shares of Elastic from $94.00 to $85.00 and set a “neutral” rating for the company in a research note on Friday, November 21st. Seventeen research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $104.88.

Elastic Stock Down 7.6%

Elastic stock opened at $67.77 on Friday. Elastic has a twelve month low of $65.39 and a twelve month high of $118.84. The company has a quick ratio of 1.97, a current ratio of 1.97 and a debt-to-equity ratio of 0.64. The company has a 50 day moving average of $74.13 and a 200-day moving average of $81.29. The stock has a market capitalization of $7.14 billion, a PE ratio of -65.79, a price-to-earnings-growth ratio of 298.50 and a beta of 0.92.

Elastic (NYSE:ESTC) last announced its earnings results on Thursday, November 20th. The company reported $0.64 earnings per share for the quarter, topping analysts’ consensus estimates of $0.58 by $0.06. The firm had revenue of $423.48 million during the quarter, compared to analyst estimates of $418.27 million. Elastic had a negative net margin of 6.79% and a negative return on equity of 2.02%. The company’s revenue for the quarter was up 15.9% compared to the same quarter last year. During the same period in the prior year, the business earned $0.59 EPS. Elastic has set its Q3 2026 guidance at 0.630-0.65 EPS. On average, equities research analysts anticipate that Elastic will post -0.77 EPS for the current fiscal year.

Elastic announced that its Board of Directors has initiated a share buyback plan on Thursday, October 9th that permits the company to repurchase $0.00 in outstanding shares. This repurchase authorization permits the company to purchase shares of its stock through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its shares are undervalued.

Insider Activity

In related news, CRO Mark Eugene Dodds sold 5,800 shares of the business’s stock in a transaction that occurred on Friday, December 5th. The stock was sold at an average price of $74.60, for a total transaction of $432,680.00. Following the transaction, the executive directly owned 161,484 shares of the company’s stock, valued at approximately $12,046,706.40. The trade was a 3.47% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Ken Exner sold 6,544 shares of Elastic stock in a transaction on Tuesday, December 9th. The stock was sold at an average price of $75.05, for a total transaction of $491,127.20. Following the transaction, the insider directly owned 227,038 shares of the company’s stock, valued at approximately $17,039,201.90. This trade represents a 2.80% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 61,828 shares of company stock valued at $4,641,010. 12.70% of the stock is owned by insiders.

Institutional Trading of Elastic

A number of hedge funds have recently modified their holdings of ESTC. AXQ Capital LP acquired a new stake in Elastic in the second quarter valued at about $419,000. Geode Capital Management LLC grew its holdings in shares of Elastic by 3.6% during the 2nd quarter. Geode Capital Management LLC now owns 1,569,578 shares of the company’s stock valued at $132,384,000 after purchasing an additional 54,812 shares during the last quarter. Mackenzie Financial Corp increased its position in Elastic by 622.2% during the 2nd quarter. Mackenzie Financial Corp now owns 77,005 shares of the company’s stock worth $6,494,000 after purchasing an additional 66,342 shares in the last quarter. Panagora Asset Management Inc. lifted its stake in Elastic by 102.3% in the 2nd quarter. Panagora Asset Management Inc. now owns 464,268 shares of the company’s stock valued at $39,152,000 after purchasing an additional 234,735 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd boosted its position in Elastic by 147.0% in the second quarter. Y Intercept Hong Kong Ltd now owns 57,690 shares of the company’s stock valued at $4,865,000 after buying an additional 34,336 shares in 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.