Elastic’s (ESTC) “Buy” Rating Reaffirmed at Rosenblatt Securities

Elastic (NYSE:ESTC)‘s stock had its “buy” rating reiterated by Rosenblatt Securities in a report issued on Tuesday,Benzinga reports. They currently have a $110.00 price target on the stock. Rosenblatt Securities’ price target would indicate a potential upside of 101.05% from the stock’s current price.

ESTC has been the subject of a number of other reports. JPMorgan Chase & Co. reduced their price target on shares of Elastic from $113.00 to $98.00 and set an “overweight” rating for the company in a research note on Friday, February 20th. DA Davidson reduced their price target 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. The Goldman Sachs Group started coverage on shares of Elastic in a research note on Tuesday, April 21st. They issued a “neutral” rating and a $50.00 price target for the company. Cantor Fitzgerald dropped their price objective on shares of Elastic from $66.00 to $59.00 and set a “neutral” rating on the stock in a report on Tuesday. Finally, Wells Fargo & Company dropped their price objective on shares of Elastic from $75.00 to $60.00 and set an “equal weight” rating on the stock in a report on Friday, February 27th. Eighteen equities research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $88.76.

Elastic Stock Performance

Shares of ESTC stock opened at $54.71 on Tuesday. The company has a 50 day moving average price of $50.09 and a 200-day moving average price of $63.51. Elastic has a 52 week low of $42.05 and a 52 week high of $96.07. The firm has a market capitalization of $5.66 billion, a PE ratio of -68.39, a P/E/G ratio of 69.14 and a beta of 0.88. The company has a quick ratio of 1.82, a current ratio of 1.82 and a debt-to-equity ratio of 0.72.

Elastic (NYSE:ESTC) last announced its quarterly earnings results on Thursday, February 26th. The company reported $0.73 EPS for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $449.88 million during the quarter, compared to analyst estimates of $438.37 million. During the same period in the previous year, the business posted $0.63 earnings per share. The business’s revenue for the quarter was up 17.7% on a year-over-year basis. Elastic has set its FY 2026 guidance at 2.500-2.540 EPS and its Q4 2026 guidance at 0.550-0.570 EPS. As a group, equities research analysts expect that Elastic will post 0.04 earnings per share for the current year.

Insider Buying and Selling at Elastic

In other Elastic news, 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 transaction, the insider owned 222,728 shares of the company’s stock, valued at $11,644,219.84. The trade was a 1.90% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Ashutosh Kulkarni sold 17,756 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 $928,283.68. Following the transaction, the chief executive officer directly owned 409,145 shares in the company, valued at $21,390,100.60. This represents a 4.16% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 38,188 shares of company stock valued at $1,996,469. 12.70% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Elastic

Several large investors have recently added to or reduced their stakes in ESTC. AQR Capital Management LLC lifted its holdings in Elastic by 153.4% during the fourth quarter. AQR Capital Management LLC now owns 7,545,081 shares of the company’s stock valued at $569,201,000 after purchasing an additional 4,567,720 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 worth $131,356,000 after buying an additional 2,201,140 shares in the last quarter. Pictet Asset Management Holding SA lifted its holdings in shares of Elastic by 43.2% in the first quarter. Pictet Asset Management Holding SA now owns 6,492,717 shares of the company’s stock worth $324,550,000 after buying an additional 1,958,219 shares in the last quarter. FIL Ltd lifted its holdings in shares of Elastic by 36.9% in the fourth quarter. FIL Ltd now owns 3,628,748 shares of the company’s stock worth $273,753,000 after buying an additional 977,578 shares in the last quarter. Finally, Alyeska Investment Group L.P. lifted its holdings in shares of Elastic by 490.4% in the third quarter. Alyeska Investment Group L.P. now owns 1,113,503 shares of the company’s stock worth $94,080,000 after buying an additional 924,911 shares in the last quarter. 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.