What is Scotiabank’s Estimate for Elastic FY2027 Earnings?

Elastic N.V. (NYSE:ESTC) – Stock analysts at Scotiabank upped their FY2027 earnings per share estimates for shares of Elastic in a research note issued on Friday, May 29th. Scotiabank analyst P. Colville now forecasts that the company will post earnings of $0.44 per share for the year, up from their previous estimate of $0.13. Scotiabank has a “Sector Perform” rating and a $58.00 price objective on the stock. The consensus estimate for Elastic’s current full-year earnings is $0.02 per share.

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

Several other research firms have also recently weighed in on ESTC. Stifel Nicolaus set a $65.00 price objective on shares of Elastic in a research report on Friday. Canaccord Genuity Group reduced their target price on Elastic from $90.00 to $80.00 and set a “buy” rating on the stock in a report on Friday. Wedbush cut their price target on shares of Elastic from $74.00 to $65.00 and set an “outperform” rating on the stock in a research report on Friday. Morgan Stanley decreased their price objective on shares of Elastic from $80.00 to $73.00 and set an “overweight” rating for the company in a report on Monday, March 2nd. Finally, Oppenheimer reduced their price target on shares of Elastic from $85.00 to $75.00 and set an “outperform” rating on the stock in a research report on Friday. Eighteen analysts have rated the stock with a Buy rating, eleven have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, Elastic has a consensus rating of “Moderate Buy” and an average price target of $80.04.

Elastic Trading Up 4.9%

NYSE:ESTC opened at $67.89 on Tuesday. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.82 and a quick ratio of 1.82. Elastic has a fifty-two week low of $42.05 and a fifty-two week high of $96.07. The stock’s 50-day moving average is $50.63 and its two-hundred day moving average is $62.43. The stock has a market cap of $7.03 billion, a PE ratio of 19.40, a price-to-earnings-growth ratio of 122.42 and a beta of 0.88.

Institutional Investors Weigh In On Elastic

A number of institutional investors have recently added to or reduced their stakes in ESTC. Sound Income Strategies LLC acquired a new position in shares of Elastic in the 4th quarter worth approximately $25,000. Bessemer Group Inc. bought a new position in shares of Elastic during the 1st quarter valued at approximately $25,000. Geneos Wealth Management Inc. bought a new stake in Elastic in the 2nd quarter valued at about $31,000. Activest Wealth Management lifted its stake in shares of Elastic by 3,181.3% during the 4th quarter. Activest Wealth Management now owns 525 shares of the company’s stock valued at $40,000 after buying an additional 509 shares in the last quarter. Finally, Aster Capital Management DIFC Ltd raised its stake in shares of Elastic by 206.1% during the 4th quarter. Aster Capital Management DIFC Ltd now owns 551 shares of the company’s stock valued at $42,000 after purchasing an additional 371 shares during the period. 97.03% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Elastic news, insider Ken Exner sold 4,310 shares of the 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 $225,326.80. Following the transaction, the insider owned 222,728 shares in the company, valued at $11,644,219.84. This represents a 1.90% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CTO Shay Banon sold 4,283 shares of the stock in a transaction that occurred on Monday, March 9th. The stock was sold at an average price of $52.28, for a total value of $223,915.24. Following the sale, the chief technology officer directly owned 4,354,945 shares in the company, valued at $227,676,524.60. This represents a 0.10% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 38,188 shares of company stock worth $1,996,469. 12.70% of the stock is currently owned by insiders.

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.