Elastic (NYSE:ESTC) Stock Price Target Raised at Stifel Nicolaus

Elastic (NYSE:ESTC) had its target price hoisted by equities research analysts at Stifel Nicolaus from $107.00 to $120.00 in a report released on Friday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Stifel Nicolaus’ target price indicates a potential upside of 25.86% from the company’s current price.

Several other brokerages also recently commented on ESTC. Truist Financial upped their price target on shares of Elastic from $80.00 to $100.00 and gave the company a “buy” rating in a report on Thursday, August 20th. Rosenblatt Securities reissued a “buy” rating and issued a $83.00 price objective on shares of Elastic in a research note on Wednesday, August 26th. Zacks Research raised Elastic from a “hold” rating to a “strong-buy” rating in a research note on Friday, August 28th. TD Cowen increased their price target on Elastic from $55.00 to $70.00 and gave the stock a “hold” rating in a report on Tuesday, August 25th. Finally, Morgan Stanley boosted their price objective on Elastic from $66.00 to $75.00 and gave the company an “equal weight” rating in a report on Friday, August 28th. One analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and twelve have given a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $97.92.

Elastic Stock Performance

NYSE:ESTC opened at $95.34 on Friday. The stock’s fifty day moving average is $85.85 and its 200 day moving average is $65.97. Elastic has a fifty-two week low of $42.05 and a fifty-two week high of $108.00. The firm has a market capitalization of $10.01 billion, a PE ratio of 26.71, a PEG ratio of 7.82 and a beta of 1.03. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.81 and a current ratio of 1.81.

Elastic (NYSE:ESTC) last posted its quarterly earnings data on Thursday, August 27th. The company reported $0.70 EPS for the quarter, topping the consensus estimate of $0.58 by $0.12. Elastic had a net margin of 20.84% and a negative return on equity of 0.35%. The company had revenue of $478.11 million during the quarter, compared to analyst estimates of $469.75 million. During the same period in the previous year, the firm earned $0.60 earnings per share. Elastic’s quarterly revenue was up 15.2% compared to the same quarter last year. Elastic has set its FY 2027 guidance at 3.290-3.370 EPS and its Q2 2027 guidance at 0.800-0.820 EPS. On average, sell-side analysts anticipate that Elastic will post 0.65 earnings per share for the current year.

Insiders Place Their Bets

In other news, CTO Shay Banon sold 200,000 shares of the firm’s stock in a transaction that occurred on Monday, August 31st. The shares were sold at an average price of $96.47, for a total transaction of $19,294,000.00. Following the transaction, the chief technology officer directly owned 1,854,978 shares of the company’s stock, valued at approximately $178,949,727.66. This trade represents a 9.73% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Ashutosh Kulkarni sold 29,227 shares of Elastic 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 sale, the chief executive officer directly owned 599,525 shares of the company’s stock, valued at $52,626,304.50. This represents a 4.65% decrease in their position. 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. Insiders have sold 2,585,641 shares of company stock worth $234,551,366 in the last three months. Corporate insiders own 12.70% of the company’s stock.

Institutional Investors Weigh In On Elastic

A number of institutional investors and hedge funds have recently bought and sold shares of ESTC. Bessemer Group Inc. purchased a new stake in shares of Elastic in the 1st quarter worth $25,000. Basecamp Wealth Advisors LLC purchased a new position in shares of Elastic during the first quarter valued at $28,000. Harbor Investment Advisory LLC bought a new stake in shares of Elastic in the second quarter valued at about $42,000. Root Financial Partners LLC lifted its stake in Elastic by 2,976.7% in the first quarter. Root Financial Partners LLC now owns 923 shares of the company’s stock worth $46,000 after acquiring an additional 893 shares during the period. Finally, Summit Securities Group LLC purchased a new stake in Elastic in the first quarter worth about $79,000. 97.03% of the stock is owned by institutional investors.

About Elastic

Elastic N.V. (NYSE: ESTC) develops search, observability and security software for organizations that need to collect, analyze and act on large volumes of data. Its platform helps users search structured and unstructured information, monitor applications and infrastructure, detect security threats and build artificial intelligence-powered experiences.

The company’s principal offerings include Elasticsearch, its distributed search and analytics engine; Kibana, a visualization and data exploration interface; and Elastic Cloud, a managed cloud service for deploying Elastic products.