Elastic N.V. (NYSE:ESTC) Stock Has Consensus Price Target of $98.56

Elastic N.V. (NYSE:ESTC) has earned a consensus recommendation of “Moderate Buy” from the thirty analysts that are covering the stock, Marketbeat Ratings reports. Twelve research analysts have rated the stock with a hold recommendation, seventeen have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $98.56.

A number of brokerages have issued reports on ESTC. Morgan Stanley raised their price target on shares of Elastic from $66.00 to $75.00 and gave the stock an “equal weight” rating in a report on Friday, August 28th. Piper Sandler reaffirmed a “hold” rating on shares of Elastic in a research note on Friday, August 28th. Yorkville Ives began coverage on shares of Elastic in a report on Monday, October 5th. They set an “outperform” rating and a $115.00 target price for the company. Oppenheimer raised their target price on Elastic from $100.00 to $118.00 and gave the stock an “outperform” rating in a research note on Friday, August 28th. Finally, JPMorgan Chase & Co. raised their target price on Elastic from $93.00 to $105.00 and gave the stock an “overweight” rating in a research note on Friday, August 28th.

Elastic Stock Performance

NYSE:ESTC opened at $85.96 on Monday. 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 has a fifty-two week low of $42.05 and a fifty-two week high of $108.00. The firm has a market cap of $9.03 billion, a PE ratio of 24.08, a price-to-earnings-growth ratio of 7.23 and a beta of 0.97. The business has a 50 day moving average price of $92.84 and a 200-day moving average price of $67.87.

Elastic (NYSE:ESTC) last issued its earnings results 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 for the quarter, compared to the consensus estimate of $469.75 million. During the same period in the previous year, the firm earned $0.60 earnings per share. The firm’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. Equities research analysts predict that Elastic will post 0.65 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Steven Schuurman sold 2,000,000 shares of Elastic stock in a transaction that occurred on Monday, October 12th. The stock was sold at an average price of $94.15, for a total value of $188,300,000.00. Following the sale, the director directly owned 2,504,600 shares in the company, valued at approximately $235,808,090. This trade represents a 44.40% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CRO Mark Dodds sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, October 2nd. The shares were sold at an average price of $92.58, for a total value of $925,800.00. Following the transaction, the executive directly owned 278,538 shares in the company, valued at $25,787,048.04. This trade represents a 3.47% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 4,585,641 shares of company stock worth $422,851,366. Insiders own 12.70% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in ESTC. First Trust Advisors LP lifted its stake in shares of Elastic by 516.1% in the 1st quarter. First Trust Advisors LP now owns 2,627,636 shares of the company’s stock valued at $131,356,000 after purchasing an additional 2,201,140 shares during the period. William Blair Investment Management LLC purchased a new stake in Elastic in the third quarter worth $212,329,000. Assenagon Asset Management S.A. grew its stake in Elastic by 0.6% in the second quarter. Assenagon Asset Management S.A. now owns 905,241 shares of the company’s stock worth $51,617,000 after purchasing an additional 5,224 shares during the period. Bank of Nova Scotia raised its holdings in Elastic by 78.8% in the first quarter. Bank of Nova Scotia now owns 752,434 shares of the company’s stock worth $37,614,000 after purchasing an additional 331,625 shares in the last quarter. Finally, Wellington Management Group LLP bought a new position in Elastic in the second quarter worth $41,889,000. 97.03% of the stock is owned by hedge funds and other institutional investors.

Elastic Company Profile

Elastic N.V. develops software for search, observability and security. Its products help organizations search and analyze data, monitor applications and infrastructure, and detect and respond to cybersecurity threats.

The company’s offerings include the Elastic Stack—built around Elasticsearch and including Kibana, Logstash and Beats—as well as cloud-based services through Elastic Cloud. These tools can be used to work with data from a range of sources and support applications such as enterprise search, log analytics and security monitoring.

Founded in 2012, Elastic grew from the open-source Elasticsearch project, first released in 2010.