Cantor Fitzgerald Raises Elastic (NYSE:ESTC) Price Target to $91.00

Elastic (NYSE:ESTC) had its price target increased by stock analysts at Cantor Fitzgerald from $59.00 to $91.00 in a research note issued on Monday,Benzinga reports. The firm currently has a “neutral” rating on the stock. Cantor Fitzgerald’s price objective indicates a potential upside of 5.92% from the stock’s current price.

ESTC has been the topic of a number of other reports. Weiss Ratings raised shares of Elastic from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday, July 15th. Wedbush reduced their price target on shares of Elastic from $74.00 to $65.00 and set an “outperform” rating for the company in a research report on Friday, May 29th. Barclays reissued an “overweight” rating on shares of Elastic in a report on Monday. Wall Street Zen downgraded Elastic from a “buy” rating to a “hold” rating in a research note on Saturday, June 13th. Finally, UBS Group reiterated a “buy” rating and issued a $85.00 price objective on shares of Elastic in a research note on Friday, May 29th. Seventeen research analysts have rated the stock with a Buy rating and thirteen have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $84.59.

Elastic Stock Performance

Shares of ESTC opened at $85.91 on Monday. The stock has a 50 day moving average price of $65.70 and a 200 day moving average price of $58.13. 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 capitalization of $8.93 billion, a price-to-earnings ratio of 24.55, a price-to-earnings-growth ratio of 21.54 and a beta of 0.98. Elastic has a 52-week low of $42.05 and a 52-week high of $96.07.

Elastic (NYSE:ESTC) last announced its quarterly earnings results on Thursday, May 28th. The company reported $0.61 EPS for the quarter, beating the consensus estimate of $0.56 by $0.05. Elastic had a net margin of 21.14% and a negative return on equity of 1.82%. The company had revenue of $450.68 million for the quarter, compared to analyst estimates of $446.66 million. During the same period in the prior year, the firm posted $0.47 earnings per share. The firm’s revenue 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. Research analysts predict that Elastic will post 0.24 EPS for the current fiscal year.

Insider Activity

In other Elastic news, insider Ken Exner sold 18,449 shares of the 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 sale, the insider directly owned 360,037 shares of the company’s stock, valued at approximately $21,821,842.57. This trade represents a 4.87% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 Elastic stock in a transaction that occurred on Tuesday, June 9th. The shares were sold at an average price of $60.61, for a total value of $785,566.21. Following the completion of the transaction, the chief financial officer owned 209,254 shares in the company, valued at $12,682,884.94. This trade represents a 5.83% decrease in their ownership of the stock. 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. Over the last 90 days, insiders have sold 110,099 shares of company stock valued at $6,673,100. Insiders own 12.70% of the company’s stock.

Institutional Investors Weigh In On Elastic

Several large investors have recently modified their holdings of the stock. AQR Capital Management LLC grew its position in Elastic by 153.4% in the 4th 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 last quarter. Pictet Asset Management Holding SA raised its position in Elastic by 43.2% during the 1st quarter. Pictet Asset Management Holding SA now owns 6,492,717 shares of the company’s stock worth $324,550,000 after buying an additional 1,958,219 shares during the last quarter. California State Teachers Retirement System lifted its stake in shares of Elastic by 5,082.4% in the 2nd 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 boosted its holdings in shares of Elastic by 36.9% in the fourth quarter. FIL Ltd now owns 3,628,748 shares of the company’s stock valued at $273,753,000 after acquiring an additional 977,578 shares in the last quarter. Finally, First Trust Advisors LP boosted its holdings in shares of Elastic by 516.1% in the first quarter. First Trust Advisors LP now owns 2,627,636 shares of the company’s stock valued at $131,356,000 after acquiring an additional 2,201,140 shares in the last quarter. Hedge funds and other institutional investors own 97.03% of the company’s stock.

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.