Elastic (NYSE:ESTC) Price Target Raised to $105.00

Elastic (NYSE:ESTC) had its price target boosted by research analysts at JPMorgan Chase & Co. from $93.00 to $105.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s target price would indicate a potential upside of 6.29% from the company’s current price.

ESTC has been the subject of a number of other research reports. Truist Financial lifted their target price on Elastic from $80.00 to $100.00 and gave the stock a “buy” rating in a report on Thursday, August 20th. DA Davidson increased their price objective on Elastic from $60.00 to $80.00 and gave the company a “neutral” rating in a research report on Wednesday. Piper Sandler reiterated an “overweight” rating on shares of Elastic in a report on Friday. Rosenblatt Securities reissued a “buy” rating and issued a $83.00 target price on shares of Elastic in a research report on Wednesday. Finally, Royal Bank Of Canada upped their target price on shares of Elastic from $70.00 to $87.00 and gave the company an “outperform” rating in a research note on Friday, August 14th. Seventeen research analysts have rated the stock with a Buy rating and thirteen have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $92.59.

Elastic Stock Up 18.0%

Shares of NYSE ESTC traded up $15.05 during midday trading on Friday, hitting $98.79. The stock had a trading volume of 4,279,548 shares, compared to its average volume of 2,090,462. The business’s 50 day moving average is $67.44 and its 200-day moving average is $58.76. Elastic has a 52 week low of $42.05 and a 52 week high of $108.00. The company has a quick ratio of 1.68, a current ratio of 1.68 and a debt-to-equity ratio of 0.45. The company has a market cap of $10.27 billion, a P/E ratio of 28.23, a PEG ratio of 19.77 and a beta of 0.98.

Elastic (NYSE:ESTC) last announced its quarterly earnings results on Thursday, August 27th. The company reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.58 by $0.12. Elastic had a net margin of 21.14% and a negative return on equity of 1.82%. The company had revenue of $478.11 million during the quarter, compared to the consensus estimate of $469.75 million. During the same quarter last year, the firm earned $0.60 earnings per share. The firm’s quarterly revenue was up 15.2% compared to the same quarter last year. Elastic has set its FY 2027 guidance at 3.290-3.370 EPS and its Q2 2027 guidance at 0.800-0.820 EPS. As a group, analysts predict that Elastic will post 0.24 EPS for the current year.

Insider Buying and Selling

In other Elastic news, CEO Ashutosh Kulkarni sold 40,373 shares of the business’s stock in a transaction dated Tuesday, June 9th. The stock was sold at an average price of $60.61, for a total transaction of $2,447,007.53. Following the completion of the sale, the chief executive officer directly owned 628,752 shares in the company, valued at $38,108,658.72. The trade was a 6.03% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Navam Welihinda sold 12,961 shares of the company’s stock in a transaction dated Tuesday, June 9th. The shares were sold at an average price of $60.61, for a total transaction of $785,566.21. Following the sale, the chief financial officer directly owned 209,254 shares of the company’s stock, valued at $12,682,884.94. The trade was a 5.83% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 110,099 shares of company stock valued at $6,673,100 in the last 90 days. Insiders own 12.70% of the company’s stock.

Hedge Funds Weigh In On Elastic

Institutional investors and hedge funds have recently made changes to their positions in the business. AQR Capital Management LLC grew its position in Elastic by 153.4% during the fourth quarter. AQR Capital Management LLC now owns 7,545,081 shares of the company’s stock valued at $569,201,000 after buying an additional 4,567,720 shares during the period. Pictet Asset Management Holding SA increased its holdings in Elastic by 43.2% during the first quarter. Pictet Asset Management Holding SA now owns 6,492,717 shares of the company’s stock valued at $324,550,000 after buying an additional 1,958,219 shares during the last quarter. California State Teachers Retirement System raised its position in Elastic by 5,082.4% in the second quarter. California State Teachers Retirement System now owns 5,419,694 shares of the company’s stock worth $309,031,000 after acquiring an additional 5,315,115 shares during the period. FIL Ltd raised its position in Elastic by 36.9% in the fourth 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 period. Finally, First Trust Advisors LP boosted its stake in shares of Elastic by 516.1% during the 1st quarter. First Trust Advisors LP now owns 2,627,636 shares of the company’s stock worth $131,356,000 after acquiring an additional 2,201,140 shares during the last quarter. Hedge funds and other institutional investors own 97.03% of the company’s stock.

Key Stories Impacting Elastic

Here are the key news stories impacting Elastic this week:

• Positive Sentiment: Quarterly beat: Elastic reported adjusted EPS of $0.70, exceeding the $0.58 consensus estimate, while revenue rose 15.2% year over year to $478.1 million, ahead of the approximately $469.8 million analyst forecast. Elastic quarterly earnings report
• Positive Sentiment: Raised outlook: Fiscal 2027 EPS guidance of $3.29-$3.37 is substantially above the $2.64 consensus estimate. Second-quarter EPS guidance of $0.80-$0.82 also exceeds expectations of $0.66, while projected revenue of $486-$487 million is above the $483.2 million consensus. The guidance upgrade is a major reason investors are reassessing the company’s growth and profitability outlook. Elastic fiscal 2027 results
• Positive Sentiment: Analyst support: Robert W. Baird raised its price target from $95 to $120 and assigned an “outperform” rating, implying meaningful upside from the current trading level. Rosenblatt Securities also reaffirmed its “buy” rating. Benzinga analyst update
• Neutral Sentiment: DA Davidson increased its price target from $60 to $80 but maintained a “neutral” rating. This reflects improving expectations while signaling that valuation and execution risks remain after the sharp rally. DA Davidson raises Elastic price target
• Negative Sentiment: Quiver Quantitative data shows 14 insider sales and no insider purchases over the past six months. Although these transactions may reflect scheduled or compensation-related selling, the absence of insider buying could temper enthusiasm. The stock also trades near the upper portion of its 52-week range, increasing sensitivity to any future guidance or execution disappointment.

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.