William Blair Begins Coverage on Elastic (NYSE:ESTC)

William Blair assumed coverage on shares of Elastic (NYSE:ESTC) in a report released on Friday. The brokerage set an “outperform” rating on the stock.

ESTC has been the topic of several other reports. DA Davidson dropped their price target on Elastic from $80.00 to $65.00 and set a “neutral” rating on the stock in a research report on Monday, March 2nd. Rothschild & Co Redburn began coverage on shares of Elastic in a research note on Thursday, April 23rd. They issued a “neutral” rating and a $49.00 price objective on the stock. Rosenblatt Securities dropped their target price on shares of Elastic from $130.00 to $110.00 and set a “buy” rating on the stock in a research report on Friday, January 30th. Truist Financial reduced their price target on shares of Elastic from $105.00 to $80.00 and set a “buy” rating for the company in a report on Friday, February 27th. Finally, Morgan Stanley decreased their price target on shares of Elastic from $80.00 to $73.00 and set an “overweight” rating on the stock in a research report on Monday, March 2nd. Eighteen investment analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Elastic has a consensus rating of “Moderate Buy” and a consensus target price of $89.80.

Elastic Stock Up 2.3%

Shares of NYSE ESTC traded up $1.23 during mid-day trading on Friday, reaching $55.07. 136,926 shares of the company traded hands, compared to its average volume of 1,983,907. Elastic has a fifty-two week low of $42.05 and a fifty-two week high of $96.07. The stock has a market cap of $5.70 billion, a PE ratio of -68.80, a price-to-earnings-growth ratio of 69.73 and a beta of 0.88. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.82 and a current ratio of 1.82. The company’s fifty day moving average is $49.99 and its two-hundred day moving average is $64.00.

Elastic (NYSE:ESTC) last issued its quarterly earnings data on Thursday, February 26th. The company reported $0.73 earnings per share for the quarter, topping analysts’ consensus estimates of $0.64 by $0.09. The business had revenue of $449.88 million during the quarter, compared to analysts’ expectations of $438.37 million. Elastic had a negative net margin of 5.04% and a negative return on equity of 2.34%. Elastic’s revenue for the quarter was up 17.7% on a year-over-year basis. During the same period in the previous year, the company earned $0.63 earnings per share. Elastic has set its FY 2026 guidance at 2.500-2.540 EPS and its Q4 2026 guidance at 0.550-0.570 EPS. On average, analysts expect that Elastic will post 0.04 earnings per share for the current year.

Insider Buying and Selling at Elastic

In related news, CAO Jane E. Bone sold 887 shares of the stock in a transaction dated Monday, March 9th. The shares were sold at an average price of $52.28, for a total transaction of $46,372.36. Following the completion of the sale, the chief accounting officer owned 42,284 shares in the company, valued at $2,210,607.52. This trade represents a 2.05% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Ken Exner sold 4,310 shares of the business’s stock in a transaction dated Monday, March 9th. The shares were sold at an average price of $52.28, for a total transaction of $225,326.80. Following the completion of the transaction, the insider owned 222,728 shares in the company, valued at approximately $11,644,219.84. This trade represents a 1.90% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 38,188 shares of company stock worth $1,996,469 over the last ninety days. Company insiders own 12.70% of the company’s stock.

Institutional Investors Weigh In On Elastic

A number of large investors have recently bought and sold shares of ESTC. Sound Income Strategies LLC bought a new position in Elastic in the 4th quarter valued at $25,000. Bessemer Group Inc. bought a new stake in shares of Elastic during the first quarter worth $25,000. Geneos Wealth Management Inc. acquired a new stake in shares of Elastic in the second quarter valued at $31,000. Activest Wealth Management raised its holdings in shares of Elastic by 3,181.3% in the fourth quarter. Activest Wealth Management now owns 525 shares of the company’s stock valued at $40,000 after buying an additional 509 shares during the last quarter. Finally, Aster Capital Management DIFC Ltd raised its holdings in shares of Elastic by 206.1% in the fourth quarter. Aster Capital Management DIFC Ltd now owns 551 shares of the company’s stock valued at $42,000 after buying an additional 371 shares during the last quarter. 97.03% of the stock is currently owned by institutional investors.

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.