Elastic (NYSE:ESTC) Price Target Raised to $75.00

Elastic (NYSE:ESTC) had its target price hoisted by analysts at Morgan Stanley from $66.00 to $75.00 in a note issued to investors on Friday,Benzinga reports. The firm currently has an “equal weight” rating on the stock. Morgan Stanley’s price objective would indicate a potential downside of 24.73% from the stock’s current price.

A number of other equities research analysts have also weighed in on the stock. Jefferies Financial Group boosted their price objective on shares of Elastic from $75.00 to $100.00 and gave the company a “buy” rating in a report on Sunday, August 16th. William Blair assumed coverage on Elastic in a research note on Friday, May 22nd. They issued an “outperform” rating for the company. Piper Sandler reaffirmed an “overweight” rating on shares of Elastic in a research report on Friday. Wedbush lowered their price target on Elastic from $74.00 to $65.00 and set an “outperform” rating for the company in a research report on Friday, May 29th. Finally, Bank of America boosted their price target on Elastic from $90.00 to $108.00 and gave the company a “neutral” rating in a research note on Friday. Seventeen analysts have rated the stock with a Buy rating and thirteen have given a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $91.41.

Elastic Stock Performance

ESTC stock traded up $15.90 during trading on Friday, reaching $99.64. The company had a trading volume of 3,376,011 shares, compared to its average volume of 2,083,755. The firm has a 50-day simple moving average of $67.44 and a 200-day simple moving average of $58.76. The company has a market cap of $10.36 billion, a price-to-earnings ratio of 28.47, a price-to-earnings-growth ratio of 19.77 and a beta of 0.98. 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 has a twelve month low of $42.05 and a twelve month high of $108.00.

Elastic (NYSE:ESTC) last issued its quarterly earnings results on Thursday, August 27th. The company reported $0.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.58 by $0.12. Elastic had a net margin of 21.14% and a negative return on equity of 1.82%. The business had revenue of $478.11 million for the quarter, compared to analyst estimates of $469.75 million. During the same quarter in the prior year, the business posted $0.60 EPS. Elastic’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. As a group, sell-side analysts expect that Elastic will post 0.24 earnings per share for the current year.

Insider Buying and Selling at Elastic

In other news, CAO Jane E. Bone sold 1,104 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 value of $66,913.44. Following the sale, the chief accounting officer directly owned 53,415 shares of the company’s stock, valued at $3,237,483.15. This represents a 2.02% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CTO Shay Banon sold 9,288 shares of the stock in a transaction on Tuesday, June 9th. The stock was sold at an average price of $60.61, for a total transaction of $562,945.68. Following the completion of the sale, the chief technology officer owned 4,417,140 shares in the company, valued at $267,722,855.40. The trade was a 0.21% decrease in their position. 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. In the last 90 days, insiders sold 110,099 shares of company stock worth $6,673,100. Corporate insiders own 12.70% of the company’s stock.

Hedge Funds Weigh In On Elastic

A number of institutional investors have recently modified their holdings of the stock. AQR Capital Management LLC boosted its stake in shares of Elastic by 153.4% in the fourth quarter. AQR Capital Management LLC now owns 7,545,081 shares of the company’s stock worth $569,201,000 after buying an additional 4,567,720 shares during the last quarter. Pictet Asset Management Holding SA raised its position in Elastic by 43.2% during the first quarter. Pictet Asset Management Holding SA now owns 6,492,717 shares of the company’s stock valued at $324,550,000 after acquiring an additional 1,958,219 shares in the last quarter. California State Teachers Retirement System raised its position in Elastic by 5,082.4% during the second quarter. California State Teachers Retirement System now owns 5,419,694 shares of the company’s stock valued at $309,031,000 after acquiring an additional 5,315,115 shares in the last quarter. FIL Ltd lifted its holdings in Elastic by 36.9% in the fourth quarter. FIL Ltd now owns 3,628,748 shares of the company’s stock valued at $273,753,000 after acquiring an additional 977,578 shares during the period. Finally, First Trust Advisors LP lifted its holdings in Elastic by 516.1% in 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. Hedge funds and other institutional investors own 97.03% of the company’s stock.

Key Elastic News

Here are the key news stories impacting Elastic this week:

• Positive Sentiment: Quarterly beat: Elastic reported adjusted EPS of $0.70, exceeding the $0.58 consensus estimate, while revenue rose 15.2% year over year to $478.1 million, ahead of the approximately $469.8 million analyst forecast. Elastic quarterly earnings report
• Positive Sentiment: Raised outlook: Fiscal 2027 EPS guidance of $3.29-$3.37 is substantially above the $2.64 consensus estimate. Second-quarter EPS guidance of $0.80-$0.82 also exceeds expectations of $0.66, while projected revenue of $486-$487 million is above the $483.2 million consensus. The guidance upgrade is a major reason investors are reassessing the company’s growth and profitability outlook. Elastic fiscal 2027 results
• Positive Sentiment: Analyst support: Robert W. Baird raised its price target from $95 to $120 and assigned an “outperform” rating, implying meaningful upside from the current trading level. Rosenblatt Securities also reaffirmed its “buy” rating. Benzinga analyst update
• Neutral Sentiment: DA Davidson increased its price target from $60 to $80 but maintained a “neutral” rating. This reflects improving expectations while signaling that valuation and execution risks remain after the sharp rally. DA Davidson raises Elastic price target
• Negative Sentiment: Quiver Quantitative data shows 14 insider sales and no insider purchases over the past six months. Although these transactions may reflect scheduled or compensation-related selling, the absence of insider buying could temper enthusiasm. The stock also trades near the upper portion of its 52-week range, increasing sensitivity to any future guidance or execution disappointment.

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.