Elastic (NYSE:ESTC) Stock Keeps Outperform Rating at Wedbush

Elastic (NYSE:ESTC)‘s stock had its “outperform” rating restated by equities research analysts at Wedbush in a research note issued on Friday, Benzinga reports. They presently have a $125.00 price objective on the stock. Wedbush’s price objective would indicate a potential upside of 28.66% from the stock’s previous close.

Several other research firms have also recently commented on ESTC. Barclays raised their target price on Elastic from $68.00 to $94.00 and gave the company an “overweight” rating in a research report on Monday, August 24th. TD Cowen raised their price target on Elastic from $55.00 to $70.00 and gave the company a “hold” rating in a report on Tuesday, August 25th. Monness Crespi & Hardt raised shares of Elastic from a “neutral” rating to a “buy” rating and set a $120.00 price objective for the company in a report on Friday. Weiss Ratings upgraded shares of Elastic from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday, July 15th. Finally, Guggenheim raised their target price on shares of Elastic from $106.00 to $120.00 and gave the company a “buy” rating in a research note on Friday, August 28th. One analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and twelve have given a Hold rating to the stock. According to data from MarketBeat, Elastic presently has an average rating of “Moderate Buy” and a consensus target price of $97.92.

Elastic Stock Performance

ESTC traded up $1.90 during trading on Friday, reaching $97.16. 244,645 shares of the company were exchanged, compared to its average volume of 2,129,063. Elastic has a 52 week low of $42.05 and a 52 week high of $108.00. The stock has a market cap of $10.20 billion, a P/E ratio of 27.11, a PEG ratio of 7.82 and a beta of 1.03. The company has a current ratio of 1.81, a quick ratio of 1.81 and a debt-to-equity ratio of 0.44. The firm has a 50 day moving average of $85.85 and a 200 day moving average of $65.97.

Elastic (NYSE:ESTC) last released its quarterly earnings data on Thursday, August 27th. The company reported $0.70 earnings per share for the quarter, topping analysts’ consensus estimates of $0.58 by $0.12. Elastic had a net margin of 20.84% and a negative return on equity of 0.35%. The business had revenue of $478.11 million for the quarter, compared to analysts’ expectations of $469.75 million. During the same quarter last year, the company earned $0.60 EPS. The company’s revenue for the quarter was up 15.2% compared to the same quarter last year. Elastic has set its FY 2027 guidance at 3.290-3.370 EPS and its Q2 2027 guidance at 0.800-0.820 EPS. On average, sell-side analysts forecast that Elastic will post 0.65 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CRO Mark Dodds sold 10,000 shares of the firm’s stock in a transaction on Friday, October 2nd. The stock was sold at an average price of $92.58, for a total transaction of $925,800.00. Following the completion of the sale, the executive directly owned 278,538 shares of the company’s stock, valued at $25,787,048.04. This trade represents a 3.47% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Carolyn Herzog sold 5,485 shares of Elastic stock in a transaction on Wednesday, September 9th. The stock was sold at an average price of $87.78, for a total value of $481,473.30. Following the completion of the transaction, the insider owned 112,954 shares in the company, valued at $9,915,102.12. The trade was a 4.63% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last three months, insiders sold 2,585,641 shares of company stock worth $234,551,366. Company insiders own 12.70% of the company’s stock.

Hedge Funds Weigh In On Elastic

Hedge funds and other institutional investors have recently modified their holdings of the stock. Pictet Asset Management Holding SA boosted its holdings in shares of Elastic by 43.2% in the first quarter. Pictet Asset Management Holding SA now owns 6,492,717 shares of the company’s stock worth $324,550,000 after buying an additional 1,958,219 shares during the period. First Trust Advisors LP raised its holdings in shares of Elastic by 516.1% during the first quarter. First Trust Advisors LP now owns 2,627,636 shares of the company’s stock valued at $131,356,000 after acquiring an additional 2,201,140 shares during the period. Temasek Holdings Private Ltd lifted its position in shares of Elastic by 9.3% in the 4th 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 in the last quarter. Panagora Asset Management Inc. boosted its stake in Elastic by 12.5% in the 4th quarter. Panagora Asset Management Inc. now owns 1,031,378 shares of the company’s stock worth $77,807,000 after purchasing an additional 114,965 shares during the period. Finally, Assenagon Asset Management S.A. grew its position in Elastic by 0.6% during the 2nd quarter. Assenagon Asset Management S.A. now owns 905,241 shares of the company’s stock worth $51,617,000 after purchasing an additional 5,224 shares in the last quarter. Institutional investors and hedge funds own 97.03% of the company’s stock.

More Elastic News

Here are the key news stories impacting Elastic this week:

• Positive Sentiment: Elastic launched Elastic nightshift AI SRE, now in private preview. The agent continuously detects and investigates issues across an organization’s technology stack, tests multiple root-cause hypotheses, and provides full investigative context. The product could strengthen Elastic’s position in AI-powered observability and create additional enterprise demand. Elastic Launches AI SRE to Investigate Issues With Full Context
• Positive Sentiment: The company announced AlertZero, a team of specialized AI agents designed to support the security operations lifecycle. The offering expands Elastic’s AI strategy beyond search and observability into automated security workflows. Elastic Announces AlertZero
• Positive Sentiment: Wedbush reaffirmed an Outperform rating and a $125 price target. Monness Crespi & Hardt upgraded Elastic from Neutral to Buy with a $120 target, while Stifel raised its target from $107 to $120 and maintained a Buy rating. These targets imply roughly 24%–29% potential upside from recent trading levels.
• Positive Sentiment: Gartner recognized Elastic as a Leader in Enterprise AI Search, citing strong execution and vision and ranking the company first or second across every evaluated use case. The recognition may improve enterprise credibility and support sales momentum. Elastic Recognized as a Leader in the Gartner Magic Quadrant
• Neutral Sentiment: Recent analyst commentary remains divided: some see Elastic as a leading AI software beneficiary, while others argue that competitive pressure and uncertain customer economics could limit the near-term benefit of its AI investments.
• Negative Sentiment: Insiders reported sizable share sales, including Steven Schuurman’s sale of 1.5 million shares and Mark Eugene Dodds’ sale of 10,000 shares. These transactions may weigh on sentiment, although insider selling does not necessarily indicate a change in business fundamentals.

About Elastic

Elastic N.V. (NYSE: ESTC) develops search, observability and security software for organizations that need to collect, analyze and act on large volumes of data. Its platform helps users search structured and unstructured information, monitor applications and infrastructure, detect security threats and build artificial intelligence-powered experiences.

The company’s principal offerings include Elasticsearch, its distributed search and analytics engine; Kibana, a visualization and data exploration interface; and Elastic Cloud, a managed cloud service for deploying Elastic products.