Elastic’s (ESTC) Neutral Rating Reiterated at Cantor Fitzgerald

Cantor Fitzgerald reiterated their neutral rating on shares of Elastic (NYSE:ESTC) in a research report sent to investors on Wednesday, Marketbeat Ratings reports. They currently have a $100.00 target price on the stock.

Several other research firms have also commented on ESTC. Wall Street Zen lowered Elastic from a “buy” rating to a “hold” rating in a report on Saturday, June 13th. TD Cowen raised their price target on Elastic from $55.00 to $70.00 and gave the stock a “hold” rating in a report on Tuesday, August 25th. Zacks Research upgraded Elastic from a “hold” rating to a “strong-buy” rating in a research report on Friday, August 28th. Robert W. Baird upped their price objective on Elastic from $95.00 to $120.00 and gave the stock an “outperform” rating in a research note on Friday, August 28th. Finally, Barclays increased their target price on Elastic from $68.00 to $94.00 and gave the stock an “overweight” rating in a research report on Monday, August 24th. One investment analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and thirteen have given a Hold rating to the company. According to data from MarketBeat, Elastic currently has a consensus rating of “Moderate Buy” and a consensus price target of $96.52.

Elastic Trading Down 3.7%

Elastic stock opened at $87.90 on Wednesday. Elastic has a 1 year low of $42.05 and a 1 year high of $108.00. The firm’s 50-day moving average is $80.16 and its 200-day moving average is $63.41. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.81 and a current ratio of 1.81. The company has a market cap of $9.23 billion, a P/E ratio of 24.62, a PEG ratio of 7.66 and a beta of 1.03.

Elastic (NYSE:ESTC) last announced its quarterly earnings data on Thursday, August 27th. The company reported $0.70 earnings per share for the quarter, beating analysts’ consensus estimates of $0.58 by $0.12. The business 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 for the quarter 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, equities analysts expect that Elastic will post 0.65 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider Carolyn Herzog sold 5,485 shares of the firm’s stock in a transaction that occurred on Wednesday, September 9th. The shares were sold at an average price of $87.78, for a total transaction of $481,473.30. Following the completion of the sale, the insider directly owned 112,954 shares in the company, valued at approximately $9,915,102.12. This trade represents a 4.63% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Ashutosh Kulkarni sold 29,227 shares of Elastic stock in a transaction that occurred on Wednesday, September 9th. The stock was sold at an average price of $87.78, for a total transaction of $2,565,546.06. Following the completion of the transaction, the chief executive officer owned 599,525 shares in the company, valued at approximately $52,626,304.50. This trade represents a 4.65% 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. Over the last three months, insiders sold 1,075,641 shares of company stock worth $98,430,566. Company insiders own 12.70% of the company’s stock.

Institutional Investors Weigh In On Elastic

Large investors have recently modified their holdings of the stock. Pictet Asset Management Holding SA grew 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 purchasing an additional 1,958,219 shares in the last quarter. First Trust Advisors LP lifted 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 purchasing an additional 2,201,140 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Elastic by 2.9% in the fourth 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 in the last quarter. Temasek Holdings Private Ltd boosted its position 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 during the period. Finally, Panagora Asset Management Inc. boosted its position in shares of Elastic by 12.5% in the fourth quarter. Panagora Asset Management Inc. now owns 1,031,378 shares of the company’s stock worth $77,807,000 after buying an additional 114,965 shares during the period. 97.03% of the stock is owned by institutional investors.

About Elastic

Elastic N.V. develops search, observability and security software for organizations that need to find, analyze and act on data. Its core technology, Elasticsearch, is a distributed search and analytics engine that can process structured and unstructured information from applications, websites, logs and other sources.

The company offers its platform through Elastic Cloud, a managed cloud service available across major public-cloud environments, as well as through self-managed deployments.