Elastic (NYSE:ESTC) Reaches New 12-Month Low – What’s Next?

Shares of Elastic N.V. (NYSE:ESTC) hit a new 52-week low during trading on Thursday . The company traded as low as $66.92 and last traded at $66.7460, with a volume of 351956 shares trading hands. The stock had previously closed at $73.38.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on ESTC shares. Wedbush dropped their price objective on shares of Elastic from $110.00 to $90.00 and set an “outperform” rating on the stock in a research note on Friday, November 21st. Needham & Company LLC restated a “hold” rating on shares of Elastic in a report on Friday, October 10th. Piper Sandler dropped their price target on shares of Elastic from $125.00 to $110.00 and set an “overweight” rating on the stock in a research report on Friday, November 21st. UBS Group decreased their price objective on Elastic from $125.00 to $110.00 and set a “buy” rating for the company in a report on Friday, November 21st. Finally, Citigroup cut their target price on Elastic from $130.00 to $115.00 and set a “buy” rating on the stock in a research report on Monday, November 24th. Seventeen equities research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $105.71.

Elastic Stock Down 8.5%

The stock has a 50-day moving average of $74.43 and a 200 day moving average of $81.39. The company has a market capitalization of $7.08 billion, a PE ratio of -65.30, a P/E/G ratio of 301.92 and a beta of 0.92. The company has a quick ratio of 1.97, a current ratio of 1.97 and a debt-to-equity ratio of 0.64.

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

Elastic declared that its board has authorized a stock buyback plan on Thursday, October 9th that authorizes the company to buyback $0.00 in shares. This buyback authorization authorizes the company to reacquire shares of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board believes its shares are undervalued.

Insider Buying and Selling at Elastic

In other Elastic news, CAO Jane E. Bone sold 1,187 shares of Elastic stock in a transaction dated Friday, January 9th. The shares were sold at an average price of $80.31, for a total value of $95,327.97. Following the sale, 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 sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Navam Welihinda sold 1,046 shares of the business’s stock in a transaction dated Wednesday, December 10th. The shares were sold at an average price of $74.51, for a total transaction of $77,937.46. Following the completion of the transaction, the chief financial officer owned 123,874 shares in the company, valued at approximately $9,229,851.74. The trade was a 0.84% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 61,828 shares of company stock valued at $4,641,010 in the last three months. 12.70% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Elastic

Several institutional investors and hedge funds have recently bought and sold shares of ESTC. Sound Income Strategies LLC bought a new stake in shares of Elastic in the fourth quarter valued at $25,000. Geneos Wealth Management Inc. purchased a new stake in Elastic in the 2nd quarter worth about $31,000. Huntington National Bank increased its holdings in Elastic by 97.5% in the 2nd quarter. Huntington National Bank now owns 468 shares of the company’s stock worth $39,000 after acquiring an additional 231 shares during the last quarter. Plato Investment Management Ltd bought a new stake in Elastic in the 2nd quarter valued at about $40,000. Finally, Promus Capital LLC purchased a new stake in Elastic during the second quarter valued at about $45,000. 97.03% of the stock is owned by institutional investors.

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.