Brokerages Set Elastic N.V. (NYSE:ESTC) Target Price at $80.04

Shares of Elastic N.V. (NYSE:ESTC) have earned a consensus recommendation of “Moderate Buy” from the thirty analysts that are covering the company, Marketbeat reports. Two investment analysts have rated the stock with a sell recommendation, ten have issued a hold recommendation and eighteen have issued a buy recommendation on the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $80.0370.

Several equities analysts have commented on ESTC shares. DA Davidson cut their price objective on Elastic from $65.00 to $60.00 and set a “neutral” rating on the stock in a research report on Friday, May 29th. Wedbush cut their price objective on Elastic from $74.00 to $65.00 and set an “outperform” rating on the stock in a research report on Friday, May 29th. Zacks Research downgraded Elastic from a “hold” rating to a “strong sell” rating in a research report on Thursday, May 28th. Guggenheim cut their price objective on Elastic from $116.00 to $106.00 and set a “buy” rating on the stock in a research report on Tuesday, May 19th. Finally, William Blair started coverage on Elastic in a research report on Friday, May 22nd. They issued an “outperform” rating on the stock.

Elastic News Summary

Here are the key news stories impacting Elastic this week:

• Positive Sentiment: Elastic’s presentation at Rosenblatt’s 6th Annual Age of AI Technology Summit kept its AI-related growth narrative in focus, which may help support sentiment around the company’s product momentum and long-term opportunity. Elastic N.V. Presents at Rosenblatt 6th Annual Age of AI Technology Summit Transcript
• Neutral Sentiment: Elastic reported a strong latest quarter, beating EPS and revenue expectations and raising forward guidance, which continues to provide a fundamental backdrop for the stock.
• Neutral Sentiment: Institutional ownership remains high, suggesting continued support from large investors despite recent volatility.
• Negative Sentiment: Multiple top insiders, including CEO Ashutosh Kulkarni, CFO Navam Welihinda, CTO Shay Banon, CRO Mark Eugene Dodds, CAO Jane Bone, and other executives, sold shares on June 9. The company says these were tied to tax withholding on equity vesting, but the size and breadth of the sales can still weigh on investor sentiment. Elastic Insider Buying and Selling Alert
• Negative Sentiment: Elastic also disclosed a new risk around regulatory hurdles and budget pressures in government contracting, which could make public-sector revenue less predictable if procurement slows or spending tightens. Government Contract Risks Cloud Elastic Revenue Outlook

Elastic Price Performance

Shares of Elastic stock opened at $60.25 on Friday. The stock has a market cap of $6.26 billion, a price-to-earnings ratio of 17.22, a price-to-earnings-growth ratio of 20.10 and a beta of 1.00. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.82 and a current ratio of 1.68. The stock has a 50 day moving average price of $52.59 and a 200-day moving average price of $61.10. Elastic has a one year low of $42.05 and a one year high of $96.07.

Elastic (NYSE:ESTC) last issued its quarterly earnings results on Thursday, May 28th. The company reported $0.61 EPS for the quarter, beating the consensus estimate of $0.56 by $0.05. The company had revenue of $450.68 million for the quarter, compared to the consensus estimate of $446.66 million. Elastic had a net margin of 21.14% and a negative return on equity of 1.82%. The firm’s revenue was up 16.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.47 EPS. Elastic has set its FY 2027 guidance at 3.210-3.290 EPS and its Q1 2027 guidance at 0.570-0.590 EPS. Equities analysts expect that Elastic will post 0.18 EPS for the current year.

Insider Buying and Selling

In related news, CFO Navam Welihinda sold 12,961 shares of the stock in a transaction that occurred on Tuesday, June 9th. The stock was sold at an average price of $60.61, for a total value of $785,566.21. Following the transaction, the chief financial officer owned 209,254 shares of the company’s stock, valued at $12,682,884.94. This represents a 5.83% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Ashutosh Kulkarni sold 40,373 shares of the stock in a transaction that occurred on Tuesday, June 9th. The stock was sold at an average price of $60.61, for a total value of $2,447,007.53. Following the completion of the transaction, the chief executive officer directly owned 628,752 shares in the company, valued at approximately $38,108,658.72. This trade represents a 6.03% 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 have sold 110,099 shares of company stock valued at $6,673,100 over the last 90 days. 12.70% of the stock is owned by insiders.

Hedge Funds Weigh In On Elastic

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

About Elastic

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.