Elastic (NYSE:ESTC) Earns Neutral Rating from Cantor Fitzgerald

Elastic (NYSE:ESTC)‘s stock had its “neutral” rating reiterated by research analysts at Cantor Fitzgerald in a research note issued on Thursday,Benzinga reports. They currently have a $59.00 target price on the stock. Cantor Fitzgerald’s target price would indicate a potential upside of 9.92% from the stock’s previous close.

A number of other equities analysts also recently weighed in on ESTC. Oppenheimer dropped their price target on shares of Elastic from $85.00 to $75.00 and set an “outperform” rating on the stock in a research note on Friday, May 29th. Wells Fargo & Company reduced their price objective on Elastic from $75.00 to $60.00 and set an “equal weight” rating for the company in a research report on Friday, February 27th. Wolfe Research set a $55.00 target price on Elastic in a research note on Friday, May 29th. Citigroup upped their target price on Elastic from $95.00 to $104.00 and gave the stock a “buy” rating in a research report on Friday, May 29th. Finally, TD Cowen cut their price target on Elastic from $65.00 to $60.00 and set a “hold” rating for the company in a research note on Tuesday, May 26th. Eighteen equities research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $80.04.

Elastic Stock Down 8.6%

Shares of ESTC stock traded down $5.04 during trading on Thursday, hitting $53.67. 232,199 shares of the company were exchanged, compared to its average volume of 2,075,375. The business’s 50-day simple moving average is $54.62 and its 200 day simple moving average is $60.36. Elastic has a twelve month low of $42.05 and a twelve month high of $96.07. The firm has a market capitalization of $5.58 billion, a price-to-earnings ratio of 15.32, a P/E/G ratio of 15.16 and a beta of 1.00. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.68 and a current ratio of 1.68.

Elastic (NYSE:ESTC) last released its quarterly earnings data on Thursday, May 28th. The company reported $0.61 earnings per share for the quarter, beating the consensus estimate of $0.56 by $0.05. Elastic had a net margin of 21.14% and a negative return on equity of 1.82%. The firm had revenue of $450.68 million for the quarter, compared to analyst estimates of $446.66 million. During the same quarter in the prior year, the business earned $0.47 EPS. The company’s revenue for the quarter was up 16.0% compared to the same quarter last year. Elastic has set its FY 2027 guidance at 3.210-3.290 EPS and its Q1 2027 guidance at 0.570-0.590 EPS. As a group, analysts forecast that Elastic will post 0.23 EPS for the current fiscal year.

Insider Activity

In other Elastic news, insider Carolyn Herzog sold 9,485 shares of the firm’s stock in a transaction dated Tuesday, June 9th. The stock was sold at an average price of $60.61, for a total transaction of $574,885.85. Following the transaction, the insider directly owned 128,439 shares in the company, valued at $7,784,687.79. This trade represents a 6.88% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Navam Welihinda sold 12,961 shares of the business’s stock in a transaction dated Tuesday, June 9th. The stock was sold at an average price of $60.61, for a total value of $785,566.21. Following the completion of the sale, the chief financial officer directly owned 209,254 shares of the company’s stock, valued at $12,682,884.94. This represents a 5.83% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last three months, insiders sold 110,099 shares of company stock valued at $6,673,100. Corporate insiders own 12.70% of the company’s stock.

Institutional Investors Weigh In On Elastic

A number of large investors have recently added to or reduced their stakes in ESTC. Orion Porfolio Solutions LLC grew its holdings in Elastic by 1.4% during the third quarter. Orion Porfolio Solutions LLC now owns 8,593 shares of the company’s stock valued at $726,000 after purchasing an additional 118 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of Elastic by 17.3% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,159 shares of the company’s stock worth $98,000 after buying an additional 171 shares during the period. Public Employees Retirement System of Ohio boosted its holdings in shares of Elastic by 0.6% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 28,323 shares of the company’s stock worth $2,393,000 after buying an additional 175 shares during the period. California State Teachers Retirement System grew its stake in Elastic by 0.3% in the 2nd quarter. California State Teachers Retirement System now owns 83,403 shares of the company’s stock valued at $7,033,000 after buying an additional 219 shares during the last quarter. Finally, Fieldview Capital Management LLC grew its stake in Elastic by 3.5% in the 3rd quarter. Fieldview Capital Management LLC now owns 10,280 shares of the company’s stock valued at $869,000 after buying an additional 345 shares during the last quarter. Institutional investors own 97.03% of the company’s stock.

About Elastic

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.