Barclays Cuts Elastic (NYSE:ESTC) Price Target to $100.00

Elastic (NYSE:ESTC) had its price target decreased by equities researchers at Barclays from $107.00 to $100.00 in a report released on Monday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Barclays‘s price target suggests a potential upside of 30.43% from the stock’s current price.

A number of other research firms have also issued reports on ESTC. Cantor Fitzgerald reduced their target price on shares of Elastic from $94.00 to $85.00 and set a “neutral” rating on the stock in a report on Friday, November 21st. Needham & Company LLC reaffirmed a “hold” rating on shares of Elastic in a research report on Friday, October 10th. Stifel Nicolaus dropped their target price on Elastic from $134.00 to $108.00 and set a “buy” rating on the stock in a report on Friday, November 21st. Truist Financial decreased their price target on Elastic from $140.00 to $120.00 and set a “buy” rating for the company in a report on Wednesday, November 19th. Finally, Bank of America lowered their price objective on shares of Elastic from $111.00 to $90.00 and set a “neutral” rating for the company in a research report on Friday, November 21st. Seventeen investment analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $105.71.

Elastic Stock Performance

Shares of ESTC stock traded down $1.95 during midday trading on Monday, hitting $76.67. The company had a trading volume of 478,576 shares, compared to its average volume of 1,130,076. The stock has a market cap of $8.08 billion, a price-to-earnings ratio of -74.42, a PEG ratio of 311.82 and a beta of 0.92. The company’s 50 day simple moving average is $78.91 and its 200 day simple moving average is $82.49. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.97 and a quick ratio of 1.97. Elastic has a 52-week low of $68.10 and a 52-week high of $118.84.

Elastic (NYSE:ESTC) last announced its quarterly earnings data on Thursday, November 20th. The company reported $0.64 earnings per share for the quarter, topping analysts’ consensus estimates of $0.58 by $0.06. The firm had revenue of $423.48 million for the quarter, compared to analyst estimates of $418.27 million. Elastic had a negative return on equity of 2.02% and a negative net margin of 6.79%.Elastic’s quarterly revenue was up 15.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.59 earnings per share. Elastic has set its Q3 2026 guidance at 0.630-0.65 EPS. Research analysts anticipate that Elastic will post -0.77 earnings per share for the current fiscal year.

Elastic announced that its Board of Directors has initiated a stock repurchase plan on Thursday, October 9th that permits the company to buyback $0.00 in outstanding shares. This buyback authorization permits the company to repurchase shares of its stock through open market purchases. Shares buyback plans are generally an indication that the company’s leadership believes its shares are undervalued.

Insiders Place Their Bets

In other Elastic news, CTO Shay Banon sold 4,552 shares of Elastic stock in a transaction on Tuesday, December 9th. The shares were sold at an average price of $75.05, for a total transaction of $341,627.60. Following the completion of the sale, the chief technology officer owned 4,359,228 shares of the company’s stock, valued at $327,160,061.40. This trade represents a 0.10% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Ken Exner sold 6,544 shares of the business’s stock in a transaction on Tuesday, December 9th. The shares were sold at an average price of $75.05, for a total transaction of $491,127.20. Following the transaction, the insider owned 227,038 shares in the company, valued at approximately $17,039,201.90. This represents a 2.80% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 60,641 shares of company stock valued at $4,545,682 over the last quarter. 12.70% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Geneos Wealth Management Inc. acquired a new stake in shares of Elastic during the 2nd quarter valued at about $31,000. Huntington National Bank grew its stake in shares of Elastic by 97.5% in the 2nd quarter. Huntington National Bank now owns 468 shares of the company’s stock valued at $39,000 after purchasing an additional 231 shares during the period. Plato Investment Management Ltd acquired a new position in shares of Elastic in the 2nd quarter worth approximately $40,000. Promus Capital LLC bought a new position in shares of Elastic during the 2nd quarter worth approximately $45,000. Finally, True Wealth Design LLC lifted its position in shares of Elastic by 391.2% during the 3rd quarter. True Wealth Design LLC now owns 673 shares of the company’s stock worth $57,000 after buying an additional 536 shares during the period. 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.