Scotiabank Has Positive Outlook for Elastic FY2027 Earnings

Elastic N.V. (NYSE:ESTC) – Stock analysts at Scotiabank increased their FY2027 EPS estimates for Elastic in a research report issued on Thursday, September 10th. Scotiabank analyst P. Colville now anticipates that the company will post earnings of $0.70 per share for the year, up from their prior estimate of $0.21. Scotiabank currently has a “Sector Perform” rating and a $84.00 price target on the stock. The consensus estimate for Elastic’s current full-year earnings is $0.64 per share.

Elastic (NYSE:ESTC) last announced its quarterly earnings results on Thursday, August 27th. The company reported $0.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.58 by $0.12. Elastic had a negative return on equity of 0.35% and a net margin of 20.84%.The company had revenue of $478.11 million during the quarter, compared to the consensus estimate of $469.75 million. During the same period in the previous year, the business earned $0.60 EPS. Elastic’s revenue for the quarter was up 15.2% on a year-over-year basis. Elastic has set its FY 2027 guidance at 3.290-3.370 EPS and its Q2 2027 guidance at 0.800-0.820 EPS.

ESTC has been the subject of several other research reports. Weiss Ratings upgraded shares of Elastic from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday, July 15th. Cantor Fitzgerald boosted their price target on shares of Elastic from $91.00 to $100.00 and gave the company a “neutral” rating in a research report on Friday, August 28th. Oppenheimer raised their price objective on Elastic from $100.00 to $118.00 and gave the stock an “outperform” rating in a report on Friday, August 28th. Stifel Nicolaus upped their target price on Elastic from $90.00 to $107.00 and gave the company a “buy” rating in a research report on Friday, August 28th. Finally, Robert W. Baird lifted their price target on Elastic from $95.00 to $120.00 and gave the stock an “outperform” rating in a research report on Friday, August 28th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating and thirteen have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Elastic presently has a consensus rating of “Moderate Buy” and an average price target of $96.52.

Elastic Stock Performance

Shares of ESTC opened at $85.02 on Tuesday. The company has a market capitalization of $8.93 billion, a price-to-earnings ratio of 23.82, a price-to-earnings-growth ratio of 7.08 and a beta of 1.03. Elastic has a 52-week low of $42.05 and a 52-week high of $108.00. The company has a quick ratio of 1.81, a current ratio of 1.81 and a debt-to-equity ratio of 0.44. The stock has a 50 day moving average price of $75.32 and a 200 day moving average price of $61.33.

Institutional Trading of Elastic

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Sequoia Financial Advisors LLC bought a new position in Elastic during the 2nd quarter worth approximately $211,000. Engineers Gate Manager LP lifted its position in Elastic by 43.7% in the 2nd quarter. Engineers Gate Manager LP now owns 129,697 shares of the company’s stock valued at $7,395,000 after purchasing an additional 39,468 shares during the last quarter. Squarepoint Ops LLC raised its holdings in shares of Elastic by 1,139.5% during the second quarter. Squarepoint Ops LLC now owns 97,798 shares of the company’s stock valued at $5,576,000 after buying an additional 89,908 shares during the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in Elastic during the 2nd quarter worth $319,000. Finally, California State Teachers Retirement System increased its stake in Elastic by 5,082.4% during the 2nd quarter. California State Teachers Retirement System now owns 5,419,694 shares of the company’s stock valued at $309,031,000 after buying an additional 5,315,115 shares during the period. Institutional investors own 97.03% of the company’s stock.

Insider Activity

In other Elastic news, insider Carolyn Herzog sold 10,000 shares of the stock in a transaction on Tuesday, September 1st. The stock was sold at an average price of $93.67, for a total transaction of $936,700.00. Following the transaction, the insider owned 118,439 shares of the company’s stock, valued at $11,094,181.13. This represents a 7.79% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Ashutosh Kulkarni sold 29,227 shares of the business’s stock in a transaction that occurred on Wednesday, September 9th. The shares were sold at an average price of $87.78, for a total transaction 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. The trade was a 4.65% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last three months, insiders sold 991,434 shares of company stock worth $91,303,286. Corporate insiders own 12.70% 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.