Elastic (NYSE:ESTC) Reaches New 1-Year Low – Here’s What Happened

Elastic N.V. (NYSE:ESTC) shares reached a new 52-week low on Wednesday . The company traded as low as $67.96 and last traded at $68.44, with a volume of 371125 shares changing hands. The stock had previously closed at $69.57.

Analyst Ratings Changes

A number of research firms have recently commented on ESTC. Weiss Ratings restated a “sell (d)” rating on shares of Elastic in a research report on Wednesday. Wall Street Zen upgraded Elastic from a “hold” rating to a “buy” rating in a research report on Saturday, October 11th. Truist Financial cut their price objective on Elastic from $140.00 to $120.00 and set a “buy” rating for the company in a research report on Wednesday, November 19th. Guggenheim reduced their target price on Elastic from $122.00 to $116.00 and set a “buy” rating for the company in a research note on Friday, November 21st. Finally, Barclays decreased their target price on Elastic from $107.00 to $100.00 and set an “overweight” rating on the stock in a research report on Monday, January 12th. Seventeen research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $105.71.

Elastic Trading Up 0.0%

The company has a 50 day moving average of $75.26 and a 200 day moving average of $81.65. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.97 and a current ratio of 1.97. The stock has a market capitalization of $7.57 billion, a price-to-earnings ratio of -69.71, a P/E/G ratio of 292.07 and a beta of 0.92.

Elastic (NYSE:ESTC) last announced its earnings results on Thursday, November 20th. The company reported $0.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.58 by $0.06. The company had revenue of $423.48 million for the quarter, compared to analysts’ expectations of $418.27 million. Elastic had a negative net margin of 6.79% and a negative return on equity of 2.02%. The firm’s quarterly revenue was up 15.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.59 EPS. Elastic has set its Q3 2026 guidance at 0.630-0.65 EPS. On average, research analysts predict that Elastic N.V. will post -0.77 EPS for the current fiscal year.

Elastic declared that its Board of Directors has authorized a stock buyback program on Thursday, October 9th that authorizes the company to buyback $0.00 in outstanding shares. This buyback authorization authorizes the company to purchase shares of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its stock is undervalued.

Insider Transactions at Elastic

In other Elastic news, CAO Jane E. Bone sold 1,187 shares of the business’s stock in a transaction on Friday, January 9th. The stock was sold at an average price of $80.31, for a total transaction of $95,327.97. Following the transaction, the chief accounting officer owned 43,171 shares of the company’s stock, valued at approximately $3,467,063.01. The trade was a 2.68% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CTO Shay Banon sold 4,552 shares of the company’s stock in a transaction on Tuesday, December 9th. The shares were sold at an average price of $75.05, for a total value of $341,627.60. Following the completion of the sale, the chief technology officer owned 4,359,228 shares of the company’s stock, valued at approximately $327,160,061.40. The trade was a 0.10% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 61,828 shares of company stock valued at $4,641,010. 12.70% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Elastic

Several large investors have recently modified their holdings of the business. Farther Finance Advisors LLC grew its holdings in shares of Elastic by 1,599.6% during the 4th quarter. Farther Finance Advisors LLC now owns 4,164 shares of the company’s stock worth $314,000 after purchasing an additional 3,919 shares during the period. Transcend Capital Advisors LLC boosted its stake in Elastic by 84.4% during the fourth quarter. Transcend Capital Advisors LLC now owns 5,600 shares of the company’s stock worth $422,000 after buying an additional 2,563 shares during the period. Dara Capital US Inc. acquired a new stake in shares of Elastic during the fourth quarter valued at about $87,000. Sumitomo Mitsui Trust Group Inc. raised its stake in shares of Elastic by 81.5% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 9,130 shares of the company’s stock valued at $689,000 after acquiring an additional 4,100 shares during the period. Finally, Jackson Thornton Wealth Management LLC lifted its holdings in shares of Elastic by 65.0% in the 4th quarter. Jackson Thornton Wealth Management LLC now owns 5,453 shares of the company’s stock worth $412,000 after acquiring an additional 2,149 shares during the last quarter. Institutional investors and hedge funds own 97.03% of the company’s stock.

Elastic Company Profile

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.