Elastic (NYSE:ESTC) Price Target Lowered to $83.00 at Rosenblatt Securities

Elastic (NYSE:ESTC) had its price target decreased by investment analysts at Rosenblatt Securities from $90.00 to $83.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Rosenblatt Securities’ target price would indicate a potential upside of 55.05% from the stock’s current price.

A number of other research firms have also commented on ESTC. Citigroup lifted their target price on shares of Elastic from $95.00 to $104.00 and gave the stock a “buy” rating in a report on Friday, May 29th. Jefferies Financial Group dropped their target price on shares of Elastic from $95.00 to $75.00 and set a “buy” rating for the company in a research report on Friday, May 29th. Morgan Stanley cut their price target on Elastic from $80.00 to $73.00 and set an “overweight” rating on the stock in a research note on Monday, March 2nd. Cantor Fitzgerald restated a “neutral” rating and issued a $59.00 price target on shares of Elastic in a research report on Thursday. Finally, Wall Street Zen cut Elastic from a “buy” rating to a “hold” rating in a research note on Saturday, June 13th. Eighteen equities research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $79.04.

Elastic Stock Down 8.8%

Shares of NYSE ESTC opened at $53.53 on Friday. The firm has a market capitalization of $5.56 billion, a PE ratio of 15.29, a price-to-earnings-growth ratio of 15.09 and a beta of 1.00. The company has a current ratio of 1.68, a quick ratio of 1.68 and a debt-to-equity ratio of 0.45. Elastic has a 1 year low of $42.05 and a 1 year high of $96.07. The firm’s 50-day moving average is $54.79 and its 200-day moving average is $60.21.

Elastic (NYSE:ESTC) last issued its quarterly earnings results on Thursday, May 28th. The company reported $0.61 EPS for the quarter, topping the consensus estimate of $0.56 by $0.05. The company had revenue of $450.68 million during the quarter, compared to analysts’ expectations of $446.66 million. Elastic had a net margin of 21.14% and a negative return on equity of 1.82%. Elastic’s revenue was up 16.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.47 EPS. Elastic has set its FY 2027 guidance at 3.210-3.290 EPS and its Q1 2027 guidance at 0.570-0.590 EPS. Equities analysts expect that Elastic will post 0.23 EPS for the current year.

Insider Buying and Selling at Elastic

In related news, CRO Mark Eugene Dodds sold 18,439 shares of the business’s stock in a transaction that occurred on Tuesday, June 9th. The shares were sold at an average price of $60.61, for a total transaction of $1,117,587.79. Following the completion of the transaction, the executive owned 298,211 shares in the company, valued at approximately $18,074,568.71. The trade was a 5.82% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Navam Welihinda sold 12,961 shares of the company’s stock in a transaction that occurred on Tuesday, June 9th. The shares were sold at an average price of $60.61, for a total transaction of $785,566.21. Following the completion of the sale, the chief financial officer directly owned 209,254 shares of the company’s stock, valued at $12,682,884.94. The trade was a 5.83% 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 have sold 110,099 shares of company stock worth $6,673,100 over the last ninety days. 12.70% of the stock is owned by corporate insiders.

Institutional Trading of Elastic

A number of large investors have recently made changes to their positions in ESTC. J. Safra Sarasin Holding AG grew its position in shares of Elastic by 43.0% in the 4th 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 period. Cinctive Capital Management LP acquired a new stake in Elastic during the 3rd quarter worth approximately $13,608,000. Connor Clark & Lunn Investment Management Ltd. lifted its stake in Elastic by 50.8% in the third 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 in the last quarter. Thematics Asset Management lifted its stake in Elastic by 10.2% in the third 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 in the last quarter. Finally, Citigroup Inc. raised its holdings in shares of Elastic by 89.0% during the third quarter. Citigroup Inc. now owns 89,357 shares of the company’s stock worth $7,550,000 after acquiring an additional 42,087 shares during the period. Institutional investors own 97.03% of the company’s stock.

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.