Elastic (NYSE:ESTC) Earns Sector Weight Rating from Analysts at KeyCorp

KeyCorp initiated coverage on shares of Elastic (NYSE:ESTC) in a report released on Tuesday morning, MarketBeat reports. The firm issued a sector weight rating on the stock. KeyCorp also issued estimates for Elastic’s Q1 2026 earnings at ($0.21) EPS, Q2 2026 earnings at ($0.06) EPS, Q3 2026 earnings at $0.04 EPS, FY2026 earnings at ($0.22) EPS, Q2 2027 earnings at ($0.05) EPS and Q3 2027 earnings at $0.01 EPS.

A number of other equities research analysts also recently weighed in on ESTC. Robert W. Baird decreased their price target on shares of Elastic from $125.00 to $115.00 and set an “outperform” rating on the stock in a research note on Friday, May 30th. Jefferies Financial Group decreased their price target on shares of Elastic from $125.00 to $110.00 and set a “buy” rating for the company in a research note on Monday, April 7th. DA Davidson reduced their target price on Elastic from $115.00 to $75.00 and set a “neutral” rating for the company in a research note on Monday, April 14th. Wedbush cut their price objective on shares of Elastic from $135.00 to $110.00 and set an “outperform” rating for the company in a research report on Friday, May 30th. Finally, Stifel Nicolaus lowered their price objective on Elastic from $140.00 to $112.00 and set a “buy” rating for the company in a research note on Friday, May 30th. Eight investment analysts have rated the stock with a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $113.63.

Elastic Trading Up 0.1%

Shares of ESTC opened at $83.29 on Tuesday. Elastic has a fifty-two week low of $69.00 and a fifty-two week high of $123.96. The stock has a fifty day moving average of $84.89 and a two-hundred day moving average of $97.05. The company has a market capitalization of $8.70 billion, a PE ratio of 151.44 and a beta of 1.07. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.99 and a current ratio of 1.99.

Elastic (NYSE:ESTC) last released its quarterly earnings results on Thursday, May 29th. The company reported $0.47 earnings per share for the quarter, topping analysts’ consensus estimates of $0.37 by $0.10. Elastic had a net margin of 4.39% and a negative return on equity of 13.20%. The business had revenue of $388.43 million during the quarter, compared to the consensus estimate of $380.61 million. During the same quarter last year, the company earned $0.21 earnings per share. The business’s quarterly revenue was up 15.9% compared to the same quarter last year. As a group, analysts forecast that Elastic will post -0.77 EPS for the current year.

Insiders Place Their Bets

In other Elastic news, insider Ken Exner sold 6,918 shares of the stock in a transaction dated Monday, June 9th. The stock was sold at an average price of $86.91, for a total value of $601,243.38. Following the transaction, the insider now owns 230,494 shares of the company’s stock, valued at approximately $20,032,233.54. This represents a 2.91% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Navam Welihinda sold 2,261 shares of the firm’s stock in a transaction dated Monday, June 9th. The stock was sold at an average price of $86.91, for a total value of $196,503.51. Following the completion of the transaction, the chief financial officer now directly owns 133,925 shares in the company, valued at $11,639,421.75. This trade represents a 1.66% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 53,413 shares of company stock valued at $4,720,774. 15.90% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Elastic

A number of hedge funds and other institutional investors have recently modified their holdings of ESTC. Massachusetts Financial Services Co. MA lifted its position in Elastic by 5,437.6% in the first quarter. Massachusetts Financial Services Co. MA now owns 2,288,128 shares of the company’s stock worth $203,872,000 after buying an additional 2,246,808 shares during the last quarter. Sylebra Capital LLC lifted its position in shares of Elastic by 62.6% during the fourth quarter. Sylebra Capital LLC now owns 4,561,462 shares of the company’s stock valued at $451,950,000 after buying an additional 1,756,842 shares during the last quarter. AQR Capital Management LLC boosted its position in shares of Elastic by 6,651.3% in the 1st quarter. AQR Capital Management LLC now owns 1,403,859 shares of the company’s stock worth $122,978,000 after purchasing an additional 1,383,065 shares in the last quarter. Norges Bank acquired a new position in Elastic during the 4th quarter valued at approximately $102,485,000. Finally, Driehaus Capital Management LLC raised its stake in shares of Elastic by 1,450.8% in the first quarter. Driehaus Capital Management LLC now owns 880,454 shares of the company’s stock worth $78,448,000 after purchasing an additional 823,680 shares during the last quarter. Institutional investors own 97.03% of the company’s stock.

Elastic Company Profile

Elastic N.V., a data analytics company, delivers solutions designed to run in public or private clouds in multi-cloud environments. It primarily offers Elastic Stack, a set of software products that ingest and store data from various sources and formats, as well as performs search, analysis, and visualization on that data.