Elastic (NYSE:ESTC) Earns Buy Rating from Rosenblatt Securities

Elastic (NYSE:ESTC)‘s stock had its “buy” rating restated by investment analysts at Rosenblatt Securities in a note issued to investors on Wednesday,Benzinga reports. They presently have a $83.00 price target on the stock. Rosenblatt Securities’ price target would suggest a potential upside of 3.20% from the stock’s current price.

A number of other equities analysts also recently commented on ESTC. Stifel Nicolaus set a $90.00 target price on shares of Elastic in a research note on Tuesday, August 18th. Jefferies Financial Group lifted their price target on shares of Elastic from $75.00 to $100.00 and gave the company a “buy” rating in a research note on Sunday, August 16th. UBS Group reiterated a “buy” rating and issued a $85.00 price target on shares of Elastic in a report on Friday, May 29th. Royal Bank Of Canada boosted their price target on Elastic from $70.00 to $87.00 and gave the company an “outperform” rating in a report on Friday, August 14th. Finally, Weiss Ratings upgraded Elastic from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday, July 15th. Seventeen equities research analysts have rated the stock with a Buy rating and thirteen have assigned a Hold rating to the company. According to MarketBeat.com, Elastic currently has an average rating of “Moderate Buy” and an average price target of $86.67.

Elastic Price Performance

NYSE:ESTC opened at $80.43 on Wednesday. The firm has a market capitalization of $8.36 billion, a price-to-earnings ratio of 22.98, a PEG ratio of 20.87 and a beta of 0.98. Elastic has a 1 year low of $42.05 and a 1 year high of $96.07. The business has a 50 day simple moving average of $66.52 and a 200-day simple moving average of $58.43. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.68 and a quick ratio of 1.68.

Elastic (NYSE:ESTC) last released its earnings results on Thursday, May 28th. The company reported $0.61 earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to analyst estimates of $446.66 million. During the same quarter last year, the business earned $0.47 EPS. The business’s revenue was up 16.0% on a year-over-year basis. Elastic has set its FY 2027 guidance at 3.210-3.290 EPS and its Q1 2027 guidance at 0.570-0.590 EPS. Equities analysts forecast that Elastic will post 0.24 EPS for the current year.

Insider Buying and Selling

In related news, insider Carolyn Herzog sold 9,485 shares of the company’s stock in a transaction that occurred on Tuesday, June 9th. The stock was sold at an average price of $60.61, for a total value of $574,885.85. Following the sale, the insider owned 128,439 shares in the company, valued at $7,784,687.79. This represents a 6.88% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at 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 company’s stock in a transaction on Tuesday, June 9th. The shares were sold at an average price of $60.61, for a total transaction of $1,117,587.79. Following the completion of the sale, the executive directly owned 298,211 shares in the company, valued at $18,074,568.71. This trade represents a 5.82% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 110,099 shares of company stock worth $6,673,100 over the last ninety days. Company insiders own 12.70% of the company’s stock.

Hedge Funds Weigh In On Elastic

Institutional investors have recently made changes to their positions in the company. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in shares of Elastic in the second quarter valued at approximately $319,000. California State Teachers Retirement System lifted its position in shares of Elastic by 5,082.4% during the 2nd quarter. California State Teachers Retirement System now owns 5,419,694 shares of the company’s stock valued at $309,031,000 after buying an additional 5,315,115 shares in the last quarter. Syon Capital LLC acquired a new stake in Elastic in the 2nd quarter valued at $3,300,000. denkapparat Operations GmbH acquired a new stake in Elastic in the 2nd quarter valued at $322,000. Finally, Wellington Management Group LLP purchased a new stake in Elastic in the 2nd quarter worth $41,889,000. 97.03% of the stock is owned by hedge funds and other institutional investors.

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.