Elastic N.V. (NYSE:ESTC) Receives Average Recommendation of “Moderate Buy” from Brokerages

Shares of Elastic N.V. (NYSE:ESTC) have received an average recommendation of “Moderate Buy” from the thirty ratings firms that are currently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and eighteen have issued a buy rating on the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $79.0370.

ESTC has been the topic of several research analyst reports. Oppenheimer decreased their price target on shares of Elastic from $85.00 to $75.00 and set an “outperform” rating on the stock in a research report on Friday, May 29th. William Blair initiated coverage on shares of Elastic in a research report on Friday, May 22nd. They set an “outperform” rating for the company. Wolfe Research set a $55.00 target price on Elastic in a research report on Friday, May 29th. Jefferies Financial Group lowered their price target on Elastic from $95.00 to $75.00 and set a “buy” rating on the stock in a research note on Friday, May 29th. Finally, Canaccord Genuity Group cut their price target on Elastic from $90.00 to $80.00 and set a “buy” rating for the company in a report on Friday, May 29th.

Insiders Place Their Bets

In other Elastic news, insider Ken Exner sold 18,449 shares of the business’s stock in a transaction on Tuesday, June 9th. The shares were sold at an average price of $60.61, for a total value of $1,118,193.89. Following the sale, the insider owned 360,037 shares of the company’s stock, valued at $21,821,842.57. The trade was a 4.87% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CRO Mark Eugene Dodds sold 18,439 shares of the stock in a transaction on Tuesday, June 9th. The shares were sold at an average price of $60.61, for a total transaction of $1,117,587.79. Following the completion of the transaction, the executive owned 298,211 shares of the company’s stock, valued at approximately $18,074,568.71. This represents a 5.82% 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 a total of 110,099 shares of company stock valued at $6,673,100 in the last ninety days. 12.70% of the stock is currently owned by insiders.

Institutional Trading of Elastic

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Orion Porfolio Solutions LLC boosted its holdings in Elastic by 1.4% during the third quarter. Orion Porfolio Solutions LLC now owns 8,593 shares of the company’s stock valued at $726,000 after purchasing an additional 118 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its position in shares of Elastic by 17.3% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,159 shares of the company’s stock worth $98,000 after buying an additional 171 shares during the period. Public Employees Retirement System of Ohio boosted its stake in Elastic by 0.6% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 28,323 shares of the company’s stock valued at $2,393,000 after buying an additional 175 shares in the last quarter. California State Teachers Retirement System boosted its stake in Elastic by 0.3% in the 2nd quarter. California State Teachers Retirement System now owns 83,403 shares of the company’s stock valued at $7,033,000 after buying an additional 219 shares in the last quarter. Finally, Fieldview Capital Management LLC grew its position in Elastic by 3.5% in the third quarter. Fieldview Capital Management LLC now owns 10,280 shares of the company’s stock valued at $869,000 after acquiring an additional 345 shares during the period. Institutional investors own 97.03% of the company’s stock.

Elastic Stock Performance

Shares of ESTC stock traded up $2.05 during trading hours on Tuesday, reaching $60.59. 663,479 shares of the company’s stock were exchanged, compared to its average volume of 2,078,197. Elastic has a fifty-two week low of $42.05 and a fifty-two week high of $96.07. The stock has a market capitalization of $6.30 billion, a P/E ratio of 17.31, a P/E/G ratio of 14.92 and a beta of 1.00. The business has a fifty day moving average price of $56.14 and a 200-day moving average price of $59.29. The company has a quick ratio of 1.68, a current ratio of 1.68 and a debt-to-equity ratio of 0.45.

Elastic (NYSE:ESTC) last posted its quarterly earnings data on Thursday, May 28th. The company reported $0.61 earnings per share for the quarter, beating the consensus estimate of $0.56 by $0.05. Elastic had a negative return on equity of 1.82% and a net margin of 21.14%.The company had revenue of $450.68 million during the quarter, compared to analysts’ expectations of $446.66 million. During the same period in the prior year, the business earned $0.47 earnings per share. Elastic’s revenue for the quarter was up 16.0% compared to the same quarter last year. Elastic has set its FY 2027 guidance at 3.210-3.290 EPS and its Q1 2027 guidance at 0.570-0.590 EPS. Analysts predict that Elastic will post 0.23 EPS for the current fiscal year.

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.