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

Elastic (NYSE:ESTC) had its target price hoisted by Robert W. Baird from $95.00 to $120.00 in a research note published on Friday,Benzinga reports. They currently have an outperform rating on the stock.

ESTC has been the subject of several other research reports. Bank of America lifted their price objective on Elastic from $90.00 to $108.00 and gave the stock a “neutral” rating in a report on Friday. Rosenblatt Securities reissued a “buy” rating and issued a $83.00 target price on shares of Elastic in a research report on Wednesday, August 26th. Stifel Nicolaus set a $90.00 target price on Elastic in a research report on Tuesday, August 18th. JPMorgan Chase & Co. boosted their price target on Elastic from $80.00 to $93.00 and gave the company an “overweight” rating in a research note on Friday, August 21st. Finally, UBS Group reaffirmed a “buy” rating and set a $85.00 price target on shares of Elastic in a research report on Friday, May 29th. Fifteen analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $94.12.

Elastic Stock Down 0.2%

Shares of Elastic stock opened at $99.75 on Friday. Elastic has a twelve month low of $42.05 and a twelve month high of $108.00. The company has a quick ratio of 1.68, a current ratio of 1.68 and a debt-to-equity ratio of 0.45. The company’s 50 day moving average is $68.25 and its 200 day moving average is $59.03. The company has a market cap of $10.37 billion, a price-to-earnings ratio of 27.94, a price-to-earnings-growth ratio of 23.93 and a beta of 0.98.

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

Insider Activity at Elastic

In other Elastic news, insider Carolyn Herzog sold 9,485 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 $574,885.85. Following the completion of 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 SEC, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Ken Exner sold 18,449 shares of the firm’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 $1,118,193.89. Following the completion of the transaction, the insider directly owned 360,037 shares in the company, valued at $21,821,842.57. This trade represents a 4.87% 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. Insiders sold 110,099 shares of company stock valued at $6,673,100 in the last ninety days. Corporate insiders own 12.70% of the company’s stock.

Institutional Investors Weigh In On Elastic

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ESTC. Orion Porfolio Solutions LLC grew its holdings in shares of Elastic by 1.4% during the third quarter. Orion Porfolio Solutions LLC now owns 8,593 shares of the company’s stock valued at $726,000 after buying an additional 118 shares during the last quarter. Northwestern Mutual Wealth Management Co. raised its stake in Elastic by 17.3% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,159 shares of the company’s stock worth $98,000 after acquiring an additional 171 shares during the last quarter. Public Employees Retirement System of Ohio lifted its position in Elastic by 0.6% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 28,323 shares of the company’s stock worth $2,393,000 after acquiring an additional 175 shares during the period. California State Teachers Retirement System lifted its position in Elastic by 0.3% during the 2nd quarter. California State Teachers Retirement System now owns 83,403 shares of the company’s stock worth $7,033,000 after acquiring an additional 219 shares during the period. Finally, 180 Wealth Advisors LLC lifted its position in Elastic by 4.6% during the 2nd quarter. 180 Wealth Advisors LLC now owns 6,027 shares of the company’s stock worth $344,000 after acquiring an additional 263 shares during the period. 97.03% of the stock is owned by hedge funds and other institutional investors.

Elastic News Roundup

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.

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.