Elastic (NYSE:ESTC) Price Target Raised to $100.00

Elastic (NYSE:ESTC) had its price objective lifted by Truist Financial from $80.00 to $100.00 in a research note issued to investors on Thursday morning,Benzinga reports. They currently have a buy rating on the stock.

A number of other brokerages have also issued reports on ESTC. Weiss Ratings upgraded Elastic from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday, July 15th. DA Davidson decreased their price target on shares of Elastic from $65.00 to $60.00 and set a “neutral” rating for the company in a research report on Friday, May 29th. Zacks Research upgraded shares of Elastic from a “strong sell” rating to a “hold” rating in a research note on Friday, June 26th. Jefferies Financial Group upped their price target on shares of Elastic from $75.00 to $100.00 and gave the company a “buy” rating in a report on Sunday, August 16th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Elastic from $99.00 to $80.00 and set an “overweight” rating on the stock in a research note on Wednesday, May 27th. Seventeen equities research analysts have rated the stock with a Buy rating and thirteen have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $83.41.

Elastic Trading Up 0.0%

NYSE:ESTC opened at $85.91 on Thursday. The stock has a market cap of $8.93 billion, a price-to-earnings ratio of 24.55, a price-to-earnings-growth ratio of 21.54 and a beta of 0.98. Elastic has a one year low of $42.05 and a one year high of $96.07. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.68 and a current ratio of 1.68. The business’s 50-day simple moving average is $65.70 and its 200 day simple moving average is $58.18.

Elastic (NYSE:ESTC) last issued its quarterly earnings data on Thursday, May 28th. The company reported $0.61 earnings per share for the quarter, beating analysts’ consensus estimates of $0.56 by $0.05. Elastic had a negative return on equity of 1.82% and a net margin of 21.14%.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 firm earned $0.47 EPS. Elastic’s quarterly 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. As a group, sell-side analysts predict that Elastic will post 0.24 earnings per share for the current fiscal year.

Insider Activity at Elastic

In other news, insider Ken Exner sold 18,449 shares of Elastic 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 $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. This trade represents a 4.87% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 Elastic 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 $1,117,587.79. Following the completion of the transaction, the executive owned 298,211 shares of the company’s stock, valued at approximately $18,074,568.71. The trade was a 5.82% decrease in their position. 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 quarter. 12.70% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Elastic

Hedge funds have recently added to or reduced their stakes in the business. Geneos Wealth Management Inc. bought a new stake in Elastic during the second quarter valued at $31,000. Bessemer Group Inc. bought a new position in shares of Elastic in the 1st quarter worth about $25,000. Activest Wealth Management lifted its position in shares of Elastic by 3,181.2% in the 4th quarter. Activest Wealth Management now owns 525 shares of the company’s stock worth $40,000 after buying an additional 509 shares during the last quarter. Aster Capital Management DIFC Ltd lifted its position in shares of Elastic by 206.1% in the 4th quarter. Aster Capital Management DIFC Ltd now owns 551 shares of the company’s stock worth $42,000 after buying an additional 371 shares during the last quarter. Finally, Basecamp Wealth Advisors LLC acquired a new position in shares of Elastic in the 1st quarter valued at about $28,000. Institutional investors and hedge funds own 97.03% of the company’s stock.

Key Headlines Impacting Elastic

Here are the key news stories impacting Elastic this week:

• Positive Sentiment: JPMorgan raised its price target on Elastic from $80 to $93 and upgraded its stance to “overweight,” implying further upside from the current trading level. Benzinga report on JPMorgan’s Elastic price-target increase
• Positive Sentiment: Truist also increased its target, lifting it from $80 to $100 while maintaining a “buy” rating. The higher target reflects stronger analyst confidence in Elastic’s growth prospects. Benzinga report on Truist’s Elastic price-target increase
• Positive Sentiment: Guggenheim awarded Elastic a “buy” rating, adding another favorable analyst view and reinforcing the constructive sentiment around the software company. Elastic earns Buy Rating from Guggenheim
• Positive Sentiment: A Zacks analysis characterized Elastic as a strong growth stock, highlighting its appeal to growth, value, and momentum investors. Why Elastic is a strong growth stock
• Neutral Sentiment: Elastic is scheduled to report quarterly results on Thursday. The release could provide a near-term catalyst, particularly through its outlook for cloud demand, revenue growth, and profitability. Elastic quarterly earnings announcement
• Negative Sentiment: A Zacks preview warned that first-quarter earnings are expected to decline and said Elastic may lack the usual factors associated with a likely earnings beat. This creates downside risk if results or guidance disappoint investors. Elastic earnings preview

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.