Elastic (NYSE:ESTC) Price Target Raised to $100.00

Elastic (NYSE:ESTC) had its price target lifted by equities research analysts at Truist Financial from $80.00 to $100.00 in a research note issued on Thursday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Truist Financial’s target price indicates a potential upside of 16.14% from the stock’s previous close.

A number of other equities analysts have also weighed in on ESTC. DA Davidson lowered their target price on Elastic from $65.00 to $60.00 and set a “neutral” rating on the stock in a research report on Friday, May 29th. Citigroup lifted their price target on shares of Elastic from $95.00 to $104.00 and gave the company a “buy” rating in a report on Friday, May 29th. Jefferies Financial Group increased their price objective on Elastic from $75.00 to $100.00 and gave the stock a “buy” rating in a report on Sunday. Stifel Nicolaus set a $90.00 price objective on Elastic in a research note on Tuesday. Finally, Wall Street Zen cut shares of Elastic from a “buy” rating to a “hold” rating in a research note on Saturday, June 13th. Seventeen research analysts have rated the stock with a Buy rating and thirteen have issued a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $82.93.

Elastic Price Performance

Shares of NYSE:ESTC traded down $1.24 during trading on Thursday, reaching $86.10. 509,385 shares of the company traded hands, compared to its average volume of 2,064,584. Elastic has a 52 week low of $42.05 and a 52 week high of $96.07. The company’s 50 day moving average is $64.68 and its two-hundred day moving average is $57.85. 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 firm has a market capitalization of $8.95 billion, a PE ratio of 24.60, a PEG ratio of 23.03 and a beta of 0.98.

Elastic (NYSE:ESTC) last posted its earnings results on Thursday, May 28th. The company reported $0.61 EPS for the quarter, topping analysts’ consensus estimates of $0.56 by $0.05. The firm had revenue of $450.68 million during the quarter, compared to analysts’ expectations of $446.66 million. Elastic had a net margin of 21.14% and a negative return on equity of 1.82%. The business’s revenue for the quarter was up 16.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.47 earnings per share. Elastic has set its FY 2027 guidance at 3.210-3.290 EPS and its Q1 2027 guidance at 0.570-0.590 EPS. As a group, sell-side analysts predict that Elastic will post 0.22 earnings per share for the current year.

Insider Transactions at Elastic

In other news, CRO Mark Eugene Dodds sold 18,439 shares of the stock in a transaction that occurred on Tuesday, June 9th. The shares were sold at an average price of $60.61, for a total transaction of $1,117,587.79. Following the transaction, the executive directly owned 298,211 shares in the company, valued at approximately $18,074,568.71. This trade represents a 5.82% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Ken Exner sold 18,449 shares of the business’s stock in a transaction that occurred on Tuesday, June 9th. The stock was sold at an average price of $60.61, for a total transaction of $1,118,193.89. Following the completion of the transaction, the insider directly owned 360,037 shares of the company’s stock, valued at $21,821,842.57. This trade represents a 4.87% 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. In the last three months, insiders have sold 110,099 shares of company stock worth $6,673,100. Insiders own 12.70% of the company’s stock.

Institutional Trading of Elastic

Several large investors have recently made changes to their positions in the business. Amundi raised its position in shares of Elastic by 37.2% in the first quarter. Amundi now owns 296,604 shares of the company’s stock worth $14,827,000 after acquiring an additional 80,441 shares during the period. Geode Capital Management LLC raised its stake in Elastic by 2.9% in the 4th quarter. Geode Capital Management LLC now owns 1,724,508 shares of the company’s stock valued at $130,124,000 after purchasing an additional 49,198 shares during the last quarter. California State Teachers Retirement System raised its position in shares of Elastic by 21.8% in the first quarter. California State Teachers Retirement System now owns 104,579 shares of the company’s stock valued at $5,228,000 after buying an additional 18,716 shares during the last quarter. Temasek Holdings Private Ltd lifted its stake in shares of Elastic by 9.3% in the fourth quarter. Temasek Holdings Private Ltd now owns 1,294,465 shares of the company’s stock worth $97,654,000 after buying an additional 109,608 shares in the last quarter. Finally, Legal & General Group Plc raised its holdings in Elastic by 15.6% in the 4th quarter. Legal & General Group Plc now owns 396,595 shares of the company’s stock valued at $29,919,000 after acquiring an additional 53,523 shares during the last quarter. 97.03% of the stock is owned by hedge funds and other 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.