Guggenheim Cuts Elastic (NYSE:ESTC) Price Target to $106.00

Elastic (NYSE:ESTC) had its price target cut by research analysts at Guggenheim from $116.00 to $106.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the stock. Guggenheim’s target price would suggest a potential upside of 90.13% from the stock’s previous close.

A number of other equities analysts also recently weighed in on the stock. TD Cowen reaffirmed a “hold” rating on shares of Elastic in a research note on Monday, February 23rd. Wells Fargo & Company lowered their price objective on Elastic from $75.00 to $60.00 and set an “equal weight” rating for the company in a research report on Friday, February 27th. The Goldman Sachs Group started coverage on shares of Elastic in a research note on Tuesday, April 21st. They issued a “neutral” rating and a $50.00 target price on the stock. Royal Bank Of Canada cut their price objective on shares of Elastic from $80.00 to $70.00 and set an “outperform” rating on the stock in a report on Thursday, April 16th. Finally, Oppenheimer dropped their target price on shares of Elastic from $100.00 to $85.00 and set an “outperform” rating for the company in a research report on Friday, February 27th. Seventeen research analysts have rated the stock with a Buy rating, thirteen have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $90.38.

Elastic Price Performance

ESTC traded up $1.84 during trading on Tuesday, hitting $55.75. The company’s stock had a trading volume of 133,825 shares, compared to its average volume of 1,985,904. The company has a quick ratio of 1.82, a current ratio of 1.82 and a debt-to-equity ratio of 0.72. The stock has a market capitalization of $5.77 billion, a price-to-earnings ratio of -69.60, a price-to-earnings-growth ratio of 63.83 and a beta of 0.88. The firm’s 50 day moving average price is $49.91 and its two-hundred day moving average price is $64.72. Elastic has a 12 month low of $42.05 and a 12 month high of $96.07.

Elastic (NYSE:ESTC) last announced its earnings results on Thursday, February 26th. The company reported $0.73 earnings per share for the quarter, beating analysts’ consensus estimates of $0.64 by $0.09. Elastic had a negative return on equity of 2.34% and a negative net margin of 5.04%.The company had revenue of $449.88 million during the quarter, compared to analyst estimates of $438.37 million. During the same period last year, the company posted $0.63 earnings per share. The firm’s quarterly revenue was up 17.7% compared to the same quarter last year. Elastic has set its FY 2026 guidance at 2.500-2.540 EPS and its Q4 2026 guidance at 0.550-0.570 EPS. Sell-side analysts forecast that Elastic will post 0.04 earnings per share for the current fiscal year.

Insider Buying and Selling at Elastic

In other Elastic news, insider Carolyn Herzog sold 3,989 shares of the firm’s stock in a transaction that occurred on Monday, March 9th. The shares were sold at an average price of $52.28, for a total transaction of $208,544.92. Following the sale, the insider directly owned 85,335 shares in the company, valued at approximately $4,461,313.80. This trade represents a 4.47% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CRO Mark Eugene Dodds sold 3,723 shares of the company’s stock in a transaction that occurred on Monday, March 9th. The shares were sold at an average price of $52.28, for a total transaction of $194,638.44. Following the completion of the transaction, the executive owned 152,563 shares of the company’s stock, valued at $7,975,993.64. This trade represents a 2.38% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 38,188 shares of company stock worth $1,996,469 in the last quarter. Company insiders own 12.70% of the company’s stock.

Hedge Funds Weigh In On Elastic

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. J. Safra Sarasin Holding AG raised its holdings in shares of Elastic by 43.0% in the fourth quarter. J. Safra Sarasin Holding AG now owns 189,138 shares of the company’s stock valued at $14,269,000 after purchasing an additional 56,892 shares during the last quarter. Cinctive Capital Management LP bought a new position in Elastic in the third quarter valued at $13,608,000. Thematics Asset Management increased its stake in Elastic by 10.2% in the 3rd quarter. Thematics Asset Management now owns 523,283 shares of the company’s stock valued at $44,212,000 after buying an additional 48,346 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its stake in Elastic by 50.8% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 891,279 shares of the company’s stock valued at $75,304,000 after buying an additional 300,264 shares during the last quarter. Finally, Citigroup Inc. lifted its position in Elastic by 89.0% during the 3rd quarter. Citigroup Inc. now owns 89,357 shares of the company’s stock worth $7,550,000 after buying an additional 42,087 shares in the last quarter. 97.03% of the stock is owned by institutional investors and hedge funds.

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.