Elastic (NYSE:ESTC) Given New $118.00 Price Target at Oppenheimer

Elastic (NYSE:ESTC) had its price objective hoisted by investment analysts at Oppenheimer from $100.00 to $118.00 in a research note issued on Friday,Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Oppenheimer’s price target points to a potential upside of 21.27% from the company’s previous close.

Several other research analysts also recently weighed in on ESTC. Scotiabank reduced their target price on Elastic from $61.00 to $58.00 and set a “sector perform” rating for the company in a research note on Friday, May 29th. Morgan Stanley lifted their price target on shares of Elastic from $66.00 to $75.00 and gave the company an “equal weight” rating in a research note on Friday. Stifel Nicolaus set a $107.00 price target on shares of Elastic in a report on Friday. DA Davidson upped their price objective on shares of Elastic from $60.00 to $80.00 and gave the stock a “neutral” rating in a research report on Wednesday. Finally, Cantor Fitzgerald increased their price objective on shares of Elastic from $59.00 to $91.00 and gave the company a “neutral” rating in a report on Monday. Seventeen analysts have rated the stock with a Buy rating and thirteen have assigned a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $94.93.

Elastic Price Performance

Shares of NYSE:ESTC traded up $13.56 during trading on Friday, reaching $97.30. 4,815,722 shares of the company’s stock traded hands, compared to its average volume of 2,099,673. The company has a quick ratio of 1.68, a current ratio of 1.68 and a debt-to-equity ratio of 0.45. Elastic has a fifty-two week low of $42.05 and a fifty-two week high of $108.00. The company has a 50-day simple moving average of $67.44 and a 200-day simple moving average of $58.76. The firm has a market cap of $10.11 billion, a PE ratio of 27.80, a P/E/G ratio of 19.77 and a beta of 0.98.

Elastic (NYSE:ESTC) last released its quarterly earnings results 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. The company had revenue of $478.11 million during the quarter, compared to analysts’ expectations of $469.75 million. Elastic had a negative return on equity of 1.82% and a net margin of 21.14%.Elastic’s quarterly revenue was up 15.2% compared to the same quarter last year. During the same quarter in the prior 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. As a group, analysts predict that Elastic will post 0.24 earnings per share for the current year.

Insider Activity

In other Elastic news, CTO Shay Banon sold 9,288 shares of the firm’s stock in a transaction on Tuesday, June 9th. The stock was sold at an average price of $60.61, for a total value of $562,945.68. Following the transaction, the chief technology officer owned 4,417,140 shares in the company, valued at approximately $267,722,855.40. This trade represents a 0.21% decrease in their position. 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, CAO Jane E. Bone sold 1,104 shares of Elastic stock in a transaction on Tuesday, June 9th. The stock was sold at an average price of $60.61, for a total transaction of $66,913.44. Following the sale, the chief accounting officer directly owned 53,415 shares in the company, valued at approximately $3,237,483.15. This trade represents a 2.02% 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 sold 110,099 shares of company stock valued at $6,673,100 in the last three months. Company insiders own 12.70% of the company’s stock.

Institutional Investors Weigh In On Elastic

A number of hedge funds have recently modified their holdings of the business. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in Elastic during the 2nd quarter valued at about $319,000. California State Teachers Retirement System lifted its stake in Elastic by 5,082.4% in the 2nd quarter. California State Teachers Retirement System now owns 5,419,694 shares of the company’s stock worth $309,031,000 after purchasing an additional 5,315,115 shares in the last quarter. Syon Capital LLC purchased a new position in Elastic in the 2nd quarter worth approximately $3,300,000. denkapparat Operations GmbH acquired a new position in shares of Elastic during the 2nd quarter worth approximately $322,000. Finally, Wellington Management Group LLP acquired a new position in shares of Elastic during the 2nd quarter worth approximately $41,889,000. 97.03% of the stock is currently owned by institutional investors and hedge funds.

Elastic News Summary

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.

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.