Elastic (NYSE:ESTC) Price Target Raised to $120.00

Elastic (NYSE:ESTC) had its price objective lifted by Jefferies Financial Group from $100.00 to $120.00 in a research report report published on Friday morning,Benzinga reports. The firm currently has a buy rating on the stock.

ESTC has been the topic of a number of other research reports. JPMorgan Chase & Co. upped their target price on shares of Elastic from $93.00 to $105.00 and gave the company an “overweight” rating in a research report on Friday. Truist Financial lifted their price target on shares of Elastic from $80.00 to $100.00 and gave the company a “buy” rating in a research report on Thursday, August 20th. Rosenblatt Securities reissued a “buy” rating and issued a $83.00 price target on shares of Elastic in a research note on Wednesday, August 26th. Piper Sandler upped their price objective on shares of Elastic from $85.00 to $130.00 and gave the stock an “overweight” rating in a report on Friday. Finally, Wall Street Zen cut shares of Elastic from a “buy” rating to a “hold” rating in a research report on Saturday, June 13th. Fifteen equities research analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $94.12.

Elastic Stock Down 0.2%

ESTC stock opened at $99.75 on Friday. The company has a market cap of $10.37 billion, a price-to-earnings ratio of 27.94, a PEG ratio of 23.93 and a beta of 0.98. The company has a current ratio of 1.68, a quick ratio of 1.68 and a debt-to-equity ratio of 0.45. Elastic has a 12 month low of $42.05 and a 12 month high of $108.00. The firm has a 50-day moving average of $68.25 and a two-hundred day moving average of $59.03.

Elastic (NYSE:ESTC) last issued its earnings results on Thursday, August 27th. The company reported $0.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.58 by $0.12. Elastic had a negative return on equity of 0.38% and a net margin of 20.84%.The business had revenue of $478.11 million during the quarter, compared to the consensus estimate of $469.75 million. During the same period last year, the company earned $0.60 EPS. The company’s revenue for the quarter was up 15.2% on a year-over-year basis. Elastic has set its FY 2027 guidance at 3.290-3.370 EPS and its Q2 2027 guidance at 0.800-0.820 EPS. As a group, analysts forecast that Elastic will post 0.25 earnings per share for the current fiscal year.

Insider Activity at Elastic

In related news, insider Ken Exner sold 18,449 shares of the business’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 $1,118,193.89. Following the completion of the transaction, the insider owned 360,037 shares in the company, valued at approximately $21,821,842.57. The trade was a 4.87% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through 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 company’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 transaction, the chief financial officer directly owned 209,254 shares of the company’s stock, valued at approximately $12,682,884.94. This represents a 5.83% 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 have sold a total of 110,099 shares of company stock worth $6,673,100 over the last ninety days. 12.70% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Elastic

A number of institutional investors have recently modified their holdings of ESTC. Amundi increased its holdings in shares of Elastic by 37.2% during the 1st quarter. Amundi now owns 296,604 shares of the company’s stock worth $14,827,000 after buying an additional 80,441 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Elastic by 2.9% in the fourth quarter. Geode Capital Management LLC now owns 1,724,508 shares of the company’s stock valued at $130,124,000 after acquiring an additional 49,198 shares during the last quarter. California State Teachers Retirement System boosted its holdings in Elastic by 21.8% in the first quarter. California State Teachers Retirement System now owns 104,579 shares of the company’s stock valued at $5,228,000 after acquiring an additional 18,716 shares during the last quarter. Temasek Holdings Private Ltd boosted its holdings in Elastic by 9.3% in the fourth quarter. Temasek Holdings Private Ltd now owns 1,294,465 shares of the company’s stock valued at $97,654,000 after acquiring an additional 109,608 shares during the last quarter. Finally, Legal & General Group Plc grew its position in Elastic by 15.6% during the fourth quarter. Legal & General Group Plc now owns 396,595 shares of the company’s stock valued at $29,919,000 after acquiring an additional 53,523 shares during the period. 97.03% of the stock is owned by institutional investors and hedge funds.

Key Elastic News

Here are the key news stories impacting Elastic this week:

• Positive Sentiment: Quarterly beat and raised outlook: Elastic reported adjusted EPS of $0.70 versus the consensus estimate of $0.58, while revenue reached approximately $478.1 million, up about 15% year over year and ahead of most estimates. Management guided fiscal Q2 EPS to $0.80-$0.82, compared with the $0.66 consensus, and raised fiscal 2027 EPS guidance to $3.29-$3.37 versus an expected $2.64. Elastic Tops Q1 Earnings and Revenue Estimates
• Positive Sentiment: AI and enterprise demand are supporting growth: Coverage highlights increasing AI adoption, expansion among large enterprise customers and new product investments as drivers of Elastic’s accelerating revenue outlook. The results also showed solid cash generation, with operating cash flow of roughly $132 million. Another Day, Another Software Stock Surging 20%
• Positive Sentiment: Analyst targets moved higher: Oppenheimer, Jefferies, JPMorgan, Canaccord Genuity and Robert W. Baird all raised their price targets following the earnings report. Several firms now carry targets of $118-$120, with ratings ranging from “buy” to “outperform,” reinforcing the bullish reaction. Jefferies Raises Elastic Price Target
• Neutral Sentiment: Elastic announced that proxy materials for its October 15, 2026 annual shareholder meeting are available online. The filing is routine and is unlikely to materially affect the stock. Elastic Announces Proxy Materials Availability
• Negative Sentiment: Some valuation caution remains: Morgan Stanley maintained an “equal weight” rating with a $75 target, below the current trading level. Reported insider activity also shows sales without purchases in recent months, although these transactions may reflect routine diversification.

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.