Elastic (NYSE:ESTC) Sets New 52-Week Low – Here’s Why

Elastic N.V. (NYSE:ESTC) hit a new 52-week low on Thursday . The stock traded as low as $46.56 and last traded at $46.0250, with a volume of 49128 shares trading hands. The stock had previously closed at $48.72.

Wall Street Analyst Weigh In

ESTC has been the subject of several recent research reports. JPMorgan Chase & Co. reduced their price target on Elastic from $113.00 to $98.00 and set an “overweight” rating for the company in a research report on Friday, February 20th. Royal Bank Of Canada reduced their price target on Elastic from $115.00 to $95.00 and set an “outperform” rating for the company in a research report on Monday, January 5th. DA Davidson reduced their price target on Elastic from $80.00 to $65.00 and set a “neutral” rating for the company in a research report on Monday, March 2nd. Barclays reduced their price target on Elastic from $78.00 to $76.00 and set an “overweight” rating for the company in a research report on Friday, February 27th. Finally, Morgan Stanley dropped their price objective on Elastic from $80.00 to $73.00 and set an “overweight” rating for the company in a research note on Monday, March 2nd. Seventeen analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $95.25.

Elastic Stock Down 4.3%

The company has a market cap of $4.82 billion, a P/E ratio of -58.30, a price-to-earnings-growth ratio of 65.10 and a beta of 1.03. The company has a 50 day moving average of $55.57 and a 200-day moving average of $71.54. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.82 and a quick ratio of 1.82.

Elastic (NYSE:ESTC) last posted its quarterly earnings data on Thursday, February 26th. The company reported $0.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.64 by $0.09. The company had revenue of $449.88 million during the quarter, compared to analyst estimates of $438.37 million. Elastic had a negative return on equity of 2.34% and a negative net margin of 5.04%.The firm’s quarterly revenue was up 17.7% on a year-over-year basis. During the same quarter last year, the company earned $0.63 earnings per share. Elastic has set its FY 2026 guidance at 2.500-2.540 EPS and its Q4 2026 guidance at 0.550-0.570 EPS. On average, equities analysts predict that Elastic N.V. will post -0.77 earnings per share for the current year.

Insider Activity

In other Elastic news, CAO Jane E. Bone sold 887 shares of Elastic stock in a transaction dated Monday, March 9th. The stock was sold at an average price of $52.28, for a total transaction of $46,372.36. Following the completion of the sale, the chief accounting officer owned 42,284 shares of the company’s stock, valued at $2,210,607.52. The trade was a 2.05% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CRO Mark Eugene Dodds sold 3,723 shares of Elastic stock in a transaction dated Monday, March 9th. The stock was sold at an average price of $52.28, for a total value of $194,638.44. Following the sale, the executive directly owned 152,563 shares of the company’s stock, valued at approximately $7,975,993.64. This trade represents a 2.38% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 39,375 shares of company stock valued at $2,091,797. 12.70% of the stock is owned by insiders.

Hedge Funds Weigh In On Elastic

Several institutional investors and hedge funds have recently made changes to their positions in the business. Orion Porfolio Solutions LLC grew its holdings in shares of Elastic by 1.4% during the 3rd quarter. Orion Porfolio Solutions LLC now owns 8,593 shares of the company’s stock valued at $726,000 after purchasing an additional 118 shares during the last quarter. Northwestern Mutual Wealth Management Co. grew its holdings in shares of Elastic by 17.3% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,159 shares of the company’s stock valued at $98,000 after purchasing an additional 171 shares during the last quarter. Public Employees Retirement System of Ohio grew its holdings in shares of Elastic by 0.6% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 28,323 shares of the company’s stock valued at $2,393,000 after purchasing an additional 175 shares during the last quarter. Jones Financial Companies Lllp grew its holdings in shares of Elastic by 6.9% during the 3rd quarter. Jones Financial Companies Lllp now owns 3,020 shares of the company’s stock valued at $260,000 after purchasing an additional 194 shares during the last quarter. Finally, California State Teachers Retirement System grew its holdings in shares of Elastic by 0.3% during the 2nd quarter. California State Teachers Retirement System now owns 83,403 shares of the company’s stock valued at $7,033,000 after purchasing an additional 219 shares during the last quarter. Institutional investors own 97.03% of the company’s stock.

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.