Brokerages Set Elastic N.V. (NYSE:ESTC) Target Price at $78.78

Shares of Elastic N.V. (NYSE:ESTC) have been given an average recommendation of “Moderate Buy” by the thirty research firms that are presently covering the company, Marketbeat.com reports. Thirteen equities research analysts have rated the stock with a hold recommendation and seventeen have issued a buy recommendation on the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $78.7778.

A number of research firms have recently issued reports on ESTC. Guggenheim lowered their price objective on shares of Elastic from $116.00 to $106.00 and set a “buy” rating on the stock in a report on Tuesday, May 19th. Wall Street Zen cut shares of Elastic from a “buy” rating to a “hold” rating in a report on Saturday, June 13th. William Blair began coverage on shares of Elastic in a research report on Friday, May 22nd. They issued an “outperform” rating for the company. Barclays lowered their price target on shares of Elastic from $76.00 to $68.00 and set an “overweight” rating on the stock in a research note on Friday, May 29th. Finally, Zacks Research raised shares of Elastic from a “strong sell” rating to a “hold” rating in a research report on Friday, June 26th.

Insider Buying and Selling

In related news, insider Ken Exner sold 18,449 shares of the company’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 $1,118,193.89. Following the sale, the insider owned 360,037 shares in the company, valued at approximately $21,821,842.57. This represents a 4.87% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CRO Mark Eugene Dodds sold 18,439 shares of the stock in a transaction that occurred on Tuesday, June 9th. The shares were sold at an average price of $60.61, for a total value of $1,117,587.79. Following the transaction, the executive directly owned 298,211 shares of the company’s stock, valued at $18,074,568.71. This trade represents a 5.82% decrease in their ownership of the stock. 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. Insiders have sold 110,099 shares of company stock worth $6,673,100 over the last three months. Company insiders own 12.70% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. Focus Partners Wealth bought a new stake in shares of Elastic during the 1st quarter worth approximately $494,000. Northwestern Mutual Wealth Management Co. grew its stake in shares of Elastic by 17.3% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,159 shares of the company’s stock valued at $98,000 after buying an additional 171 shares in the last quarter. Invesco Ltd. grew its stake in shares of Elastic by 11.7% in the second quarter. Invesco Ltd. now owns 95,332 shares of the company’s stock valued at $8,039,000 after buying an additional 9,990 shares in the last quarter. EverSource Wealth Advisors LLC increased its holdings in Elastic by 400.0% during the second quarter. EverSource Wealth Advisors LLC now owns 2,110 shares of the company’s stock worth $178,000 after buying an additional 1,688 shares during the last quarter. Finally, Cerity Partners LLC increased its holdings in Elastic by 24.7% during the second quarter. Cerity Partners LLC now owns 30,545 shares of the company’s stock worth $2,576,000 after buying an additional 6,056 shares during the last quarter. Institutional investors and hedge funds own 97.03% of the company’s stock.

Elastic Stock Up 2.4%

NYSE:ESTC opened at $65.80 on Friday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.68 and a current ratio of 1.68. The company has a market cap of $6.84 billion, a PE ratio of 18.80, a PEG ratio of 14.54 and a beta of 1.00. Elastic has a 52-week low of $42.05 and a 52-week high of $96.07. The stock has a 50-day simple moving average of $60.32 and a 200 day simple moving average of $57.44.

Elastic (NYSE:ESTC) last released its earnings results on Thursday, May 28th. The company reported $0.61 EPS for the quarter, beating the consensus estimate of $0.56 by $0.05. Elastic had a negative return on equity of 1.82% and a net margin of 21.14%.The firm had revenue of $450.68 million for the quarter, compared to analysts’ expectations of $446.66 million. During the same quarter in the previous year, the business posted $0.47 EPS. The business’s quarterly revenue 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. On average, sell-side analysts expect that Elastic will post 0.26 EPS for the current fiscal year.

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.