Elastic (NYSE:ESTC) Given New $59.00 Price Target at Cantor Fitzgerald

Elastic (NYSE:ESTC) had its price target decreased by equities researchers at Cantor Fitzgerald from $66.00 to $59.00 in a note issued to investors on Tuesday,Benzinga reports. The firm presently has a “neutral” rating on the stock. Cantor Fitzgerald’s price objective indicates a potential upside of 7.84% from the stock’s current price.

Several other brokerages also recently weighed in on ESTC. DA Davidson decreased their target price on shares of Elastic from $80.00 to $65.00 and set a “neutral” rating for the company in a research note on Monday, March 2nd. William Blair assumed coverage on shares of Elastic in a research note on Friday. They set an “outperform” rating for the company. Barclays decreased their target price on shares of Elastic from $78.00 to $76.00 and set an “overweight” rating for the company in a research note on Friday, February 27th. Piper Sandler decreased their target price on shares of Elastic from $110.00 to $85.00 and set an “overweight” rating for the company in a research note on Friday, February 27th. Finally, Royal Bank Of Canada decreased their target price on shares of Elastic from $80.00 to $70.00 and set an “outperform” rating for the company in a research note on Thursday, April 16th. Eighteen research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $88.76.

Elastic Price Performance

Shares of ESTC opened at $54.71 on Tuesday. Elastic has a fifty-two week low of $42.05 and a fifty-two week high of $96.07. The company has a market capitalization of $5.66 billion, a price-to-earnings ratio of -68.39, a price-to-earnings-growth ratio of 69.14 and a beta of 0.88. The firm has a 50-day simple moving average of $50.09 and a 200-day simple moving average of $63.51. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.82 and a current ratio of 1.82.

Elastic (NYSE:ESTC) last announced its earnings results on Thursday, February 26th. The company reported $0.73 earnings per share for the quarter, topping the consensus estimate of $0.64 by $0.09. Elastic had a negative net margin of 5.04% and a negative return on equity of 2.34%. The business had revenue of $449.88 million during the quarter, compared to the consensus estimate of $438.37 million. During the same quarter in the prior year, the firm earned $0.63 earnings per share. The business’s quarterly revenue was up 17.7% compared to the same quarter last year. Elastic has set its FY 2026 guidance at 2.500-2.540 EPS and its Q4 2026 guidance at 0.550-0.570 EPS. On average, equities research analysts anticipate that Elastic will post 0.04 earnings per share for the current year.

Insider Activity at Elastic

In other news, insider Carolyn Herzog sold 3,989 shares of Elastic stock in a transaction that occurred on Monday, March 9th. The shares were sold at an average price of $52.28, for a total transaction of $208,544.92. Following the completion of the sale, the insider directly owned 85,335 shares in the company, valued at approximately $4,461,313.80. This trade represents a 4.47% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Ken Exner sold 4,310 shares of Elastic stock in a transaction that occurred on Monday, March 9th. The shares were sold at an average price of $52.28, for a total transaction of $225,326.80. Following the sale, the insider owned 222,728 shares of the company’s stock, valued at approximately $11,644,219.84. The trade was a 1.90% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 38,188 shares of company stock worth $1,996,469. 12.70% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Elastic

Hedge funds and other institutional investors have recently modified their holdings of the stock. J. Safra Sarasin Holding AG raised its position in shares of Elastic by 43.0% during the 4th quarter. J. Safra Sarasin Holding AG now owns 189,138 shares of the company’s stock worth $14,269,000 after purchasing an additional 56,892 shares during the last quarter. Cinctive Capital Management LP acquired a new position in shares of Elastic during the 3rd quarter worth approximately $13,608,000. Thematics Asset Management raised its position in shares of Elastic by 10.2% during the 3rd quarter. Thematics Asset Management now owns 523,283 shares of the company’s stock worth $44,212,000 after purchasing an additional 48,346 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its position in shares of Elastic by 50.8% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 891,279 shares of the company’s stock worth $75,304,000 after purchasing an additional 300,264 shares during the last quarter. Finally, Citigroup Inc. raised its position in shares of Elastic by 89.0% during the 3rd quarter. Citigroup Inc. now owns 89,357 shares of the company’s stock worth $7,550,000 after purchasing an additional 42,087 shares during the last quarter. 97.03% of the stock is currently owned by institutional investors and hedge funds.

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.