Elastic (NYSE:ESTC) Price Target Raised to $132.00

Elastic (NYSE:ESTC) had its target price lifted by Citigroup from $128.00 to $132.00 in a report released on Thursday,Benzinga reports. They currently have a buy rating on the stock.

Other analysts have also issued reports about the company. Canaccord Genuity Group increased their price objective on Elastic from $80.00 to $120.00 and gave the stock a “buy” rating in a report on Friday, August 28th. Wells Fargo & Company boosted their target price on Elastic from $60.00 to $80.00 and gave the company an “equal weight” rating in a research note on Tuesday, August 25th. Morgan Stanley upped their target price on Elastic from $66.00 to $75.00 and gave the stock an “equal weight” rating in a research report on Friday, August 28th. Oppenheimer raised their price target on Elastic from $100.00 to $118.00 and gave the stock an “outperform” rating in a research note on Friday, August 28th. Finally, Cantor Fitzgerald reiterated a “neutral” rating and set a $100.00 price target on shares of Elastic in a report on Wednesday, September 23rd. Seventeen research analysts have rated the stock with a Buy rating and thirteen have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $98.70.

Elastic Stock Down 0.7%

Elastic stock traded down $0.65 during trading hours on Thursday, hitting $88.41. The company had a trading volume of 1,324,244 shares, compared to its average volume of 1,799,090. The firm has a market capitalization of $9.28 billion, a P/E ratio of 24.77, a price-to-earnings-growth ratio of 7.48 and a beta of 0.97. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.81 and a quick ratio of 1.81. The firm’s fifty day moving average is $92.18 and its 200-day moving average is $68.27. Elastic has a fifty-two week low of $42.05 and a fifty-two week high of $108.00.

Elastic (NYSE:ESTC) last released its earnings results on Thursday, August 27th. The company reported $0.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.58 by $0.12. The company had revenue of $478.11 million during the quarter, compared to the consensus estimate of $469.75 million. Elastic had a net margin of 20.84% and a negative return on equity of 0.35%. The company’s revenue was up 15.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.60 EPS. Elastic has set its FY 2027 guidance at 3.290-3.370 EPS and its Q2 2027 guidance at 0.800-0.820 EPS. On average, research analysts forecast that Elastic will post 0.65 earnings per share for the current year.

Insider Transactions at Elastic

In other Elastic news, Director Steven Schuurman sold 2,000,000 shares of the business’s stock in a transaction dated Monday, October 12th. The stock was sold at an average price of $94.15, for a total value of $188,300,000.00. Following the completion of the sale, the director owned 2,504,600 shares of the company’s stock, valued at $235,808,090. The trade was a 44.40% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Jane E. Bone sold 1,542 shares of the business’s stock in a transaction dated Wednesday, September 9th. The stock was sold at an average price of $87.78, for a total value of $135,356.76. Following the completion of the sale, the chief accounting officer directly owned 47,697 shares of the company’s stock, valued at $4,186,842.66. This represents a 3.13% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 4,585,641 shares of company stock valued at $422,851,366 in the last three months. 12.70% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Capital Advisor Network LLC bought a new stake in Elastic during the third quarter worth approximately $37,000. Bessemer Group Inc. bought a new position in shares of Elastic in the first quarter valued at approximately $25,000. Signaturefd LLC raised its position in shares of Elastic by 101.6% in the third quarter. Signaturefd LLC now owns 496 shares of the company’s stock valued at $45,000 after purchasing an additional 250 shares during the period. Basecamp Wealth Advisors LLC acquired a new stake in shares of Elastic in the first quarter worth $28,000. Finally, Fortitude Family Office LLC lifted its stake in shares of Elastic by 303.7% in the third quarter. Fortitude Family Office LLC now owns 650 shares of the company’s stock worth $60,000 after buying an additional 489 shares during the last quarter. 97.03% of the stock is owned by institutional investors.

Elastic Company Profile

Elastic N.V. develops software for search, observability and security. Its products help organizations search and analyze data, monitor applications and infrastructure, and detect and respond to cybersecurity threats. The company’s offerings include the Elastic Stack—built around Elasticsearch and including Kibana, Logstash and Beats—as well as cloud-based services through Elastic Cloud. These tools can be used to work with data from a range of sources and support applications such as enterprise search, log analytics and security monitoring.