Elastic (NYSE:ESTC) Coverage Initiated by Analysts at KeyCorp

KeyCorp began coverage on shares of Elastic (NYSE:ESTC) in a research note issued to investors on Tuesday, MarketBeat reports. The firm issued a sector weight rating on the stock. KeyCorp also issued estimates for Elastic’s Q1 2026 earnings at ($0.21) EPS, Q2 2026 earnings at ($0.06) EPS, Q3 2026 earnings at $0.04 EPS, FY2026 earnings at ($0.22) EPS, Q2 2027 earnings at ($0.05) EPS and Q3 2027 earnings at $0.01 EPS.

A number of other analysts also recently commented on ESTC. Oppenheimer decreased their price objective on shares of Elastic from $140.00 to $120.00 and set an “outperform” rating on the stock in a report on Tuesday, April 22nd. TD Securities decreased their target price on Elastic from $125.00 to $105.00 and set a “hold” rating for the company in a research report on Wednesday, May 21st. Wedbush dropped their price target on Elastic from $135.00 to $110.00 and set an “outperform” rating on the stock in a research report on Friday, May 30th. Guggenheim dropped their target price on Elastic from $136.00 to $107.00 and set a “buy” rating on the stock in a report on Friday, May 30th. Finally, Scotiabank reduced their target price on Elastic from $137.00 to $95.00 and set a “sector outperform” rating for the company in a report on Friday, May 30th. Eight analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $113.63.

Elastic Price Performance

Elastic stock opened at $83.29 on Tuesday. Elastic has a 1 year low of $69.00 and a 1 year high of $123.96. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.99 and a current ratio of 1.99. The company’s 50 day simple moving average is $84.89 and its 200-day simple moving average is $97.05. The company has a market capitalization of $8.70 billion, a price-to-earnings ratio of 151.44 and a beta of 1.07.

Elastic (NYSE:ESTC) last announced its quarterly earnings data on Thursday, May 29th. The company reported $0.47 EPS for the quarter, topping analysts’ consensus estimates of $0.37 by $0.10. Elastic had a negative return on equity of 13.20% and a net margin of 4.39%. The business had revenue of $388.43 million during the quarter, compared to the consensus estimate of $380.61 million. During the same period in the previous year, the company posted $0.21 earnings per share. The business’s revenue for the quarter was up 15.9% on a year-over-year basis. As a group, equities research analysts expect that Elastic will post -0.77 earnings per share for the current year.

Insider Buying and Selling at Elastic

In other Elastic news, insider Carolyn Herzog sold 5,702 shares of the firm’s stock in a transaction on Monday, June 9th. The shares were sold at an average price of $86.91, for a total value of $495,560.82. Following the completion of the transaction, the insider now owns 93,985 shares of the company’s stock, valued at approximately $8,168,236.35. This trade represents a 5.72% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Ashutosh Kulkarni sold 5,000 shares of the company’s stock in a transaction dated Tuesday, March 25th. The stock was sold at an average price of $102.64, for a total value of $513,200.00. Following the completion of the sale, the chief executive officer now owns 371,591 shares in the company, valued at $38,140,100.24. The trade was a 1.33% decrease in their position. The disclosure for this sale can be found here. Insiders sold 53,413 shares of company stock valued at $4,720,774 in the last 90 days. Insiders own 15.90% of the company’s stock.

Hedge Funds Weigh In On Elastic

A number of hedge funds have recently made changes to their positions in the stock. Acadian Asset Management LLC raised its holdings in shares of Elastic by 185.2% in the first quarter. Acadian Asset Management LLC now owns 20,279 shares of the company’s stock valued at $1,805,000 after buying an additional 13,169 shares during the last quarter. Focus Partners Wealth acquired a new position in Elastic in the 1st quarter valued at about $494,000. Bayforest Capital Ltd boosted its holdings in shares of Elastic by 542.8% during the first quarter. Bayforest Capital Ltd now owns 10,902 shares of the company’s stock worth $971,000 after purchasing an additional 9,206 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in Elastic by 3.0% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 429,526 shares of the company’s stock worth $38,271,000 after purchasing an additional 12,510 shares during the period. Finally, Prostatis Group LLC purchased a new position in shares of Elastic in the 1st quarter worth about $325,000. Hedge funds and other institutional investors own 97.03% of the company’s stock.

Elastic Company Profile

Elastic N.V., a data analytics company, delivers solutions designed to run in public or private clouds in multi-cloud environments. It primarily offers Elastic Stack, a set of software products that ingest and store data from various sources and formats, as well as performs search, analysis, and visualization on that data.