Elastic N.V. (NYSE:ESTC) Short Interest Down 39.0% in August

Elastic N.V. (NYSE:ESTC) saw a large decline in short interest in the month of August. As of August 31st, there was short interest totaling 3,868,490 shares, a decline of 39.0% from the August 15th total of 6,338,244 shares. Based on an average daily volume of 3,656,632 shares, the short-interest ratio is presently 1.1 days. Approximately 4.2% of the company’s shares are sold short.

Elastic Stock Up 0.9%

ESTC traded up $0.74 during trading on Wednesday, reaching $85.91. The stock had a trading volume of 658,152 shares, compared to its average volume of 2,166,111. The stock’s 50 day moving average is $75.83 and its two-hundred day moving average is $61.52. The company has a current ratio of 1.81, a quick ratio of 1.81 and a debt-to-equity ratio of 0.44. The company has a market capitalization of $9.02 billion, a price-to-earnings ratio of 24.06, a P/E/G ratio of 7.15 and a beta of 1.03. Elastic has a one year low of $42.05 and a one year high of $108.00.

Elastic (NYSE:ESTC) last announced its earnings results on Thursday, August 27th. The company reported $0.70 EPS for the quarter, beating analysts’ consensus estimates of $0.58 by $0.12. The firm had revenue of $478.11 million for the quarter, compared to analysts’ expectations of $469.75 million. Elastic had a net margin of 20.84% and a negative return on equity of 0.35%. The company’s quarterly revenue was up 15.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $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. As a group, analysts expect that Elastic will post 0.65 earnings per share for the current year.

Wall Street Analysts Forecast Growth

ESTC has been the topic of a number of research analyst reports. Wolfe Research set a $55.00 price objective on shares of Elastic in a research report on Friday, May 29th. TD Cowen raised their target price on shares of Elastic from $55.00 to $70.00 and gave the stock a “hold” rating in a research report on Tuesday, August 25th. Oppenheimer lifted their target price on shares of Elastic from $100.00 to $118.00 and gave the company an “outperform” rating in a research note on Friday, August 28th. William Blair initiated coverage on shares of Elastic in a research report on Friday, May 22nd. They set an “outperform” rating on the stock. Finally, Rosenblatt Securities reissued a “buy” rating and issued a $83.00 price target on shares of Elastic in a research note on Wednesday, August 26th. One research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating and thirteen have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $96.52.

Insider Buying and Selling at Elastic

In other Elastic news, insider Carolyn Herzog sold 10,000 shares of the stock in a transaction that occurred on Tuesday, September 1st. The stock was sold at an average price of $93.67, for a total value of $936,700.00. Following the completion of the sale, the insider owned 118,439 shares in the company, valued at approximately $11,094,181.13. This trade represents a 7.79% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Ashutosh Kulkarni sold 29,227 shares of the stock in a transaction that occurred on Wednesday, September 9th. The stock was sold at an average price of $87.78, for a total value of $2,565,546.06. Following the completion of the sale, the chief executive officer owned 599,525 shares of the company’s stock, valued at approximately $52,626,304.50. This trade represents a 4.65% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 1,075,641 shares of company stock valued at $98,430,566 in the last 90 days. Insiders own 12.70% of the company’s stock.

Institutional Investors Weigh In On Elastic

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Sequoia Financial Advisors LLC purchased a new stake in Elastic during the 2nd quarter valued at $211,000. Engineers Gate Manager LP raised its stake in shares of Elastic by 43.7% in the second quarter. Engineers Gate Manager LP now owns 129,697 shares of the company’s stock worth $7,395,000 after purchasing an additional 39,468 shares during the last quarter. Squarepoint Ops LLC raised its stake in shares of Elastic by 1,139.5% in the second quarter. Squarepoint Ops LLC now owns 97,798 shares of the company’s stock worth $5,576,000 after purchasing an additional 89,908 shares during the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in shares of Elastic during the second quarter valued at $319,000. Finally, Syon Capital LLC bought a new position in shares of Elastic during the second quarter valued at $3,300,000. Hedge funds and other institutional investors own 97.03% of the company’s stock.

Elastic Company Profile

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.