Elastic (NYSE:ESTC) Price Target Raised to $91.00

Elastic (NYSE:ESTC) had its target price increased by Cantor Fitzgerald from $59.00 to $91.00 in a research report released on Monday morning, Marketbeat Ratings reports. The firm currently has a neutral rating on the stock.

Several other research firms have also issued reports on ESTC. TD Cowen lowered their price target on shares of Elastic from $65.00 to $60.00 and set a “hold” rating on the stock in a research report on Tuesday, May 26th. 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 boosted their target price on shares of Elastic from $75.00 to $100.00 and gave the company a “buy” rating in a report on Sunday, August 16th. DA Davidson dropped their target price on Elastic from $65.00 to $60.00 and set a “neutral” rating on the stock in a research report on Friday, May 29th. Finally, William Blair began coverage on Elastic in a report on Friday, May 22nd. They issued an “outperform” rating for the company. Seventeen equities research analysts have rated the stock with a Buy rating and thirteen have issued a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $87.41.

Elastic Stock Down 1.5%

Elastic stock opened at $79.18 on Monday. Elastic has a twelve month low of $42.05 and a twelve month high of $96.07. The firm has a 50 day moving average price of $66.94 and a 200-day moving average price of $58.59. The company has a market capitalization of $8.23 billion, a P/E ratio of 22.62, a P/E/G ratio of 20.06 and a beta of 0.98. 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 (NYSE:ESTC) last released its earnings results on Thursday, May 28th. The company reported $0.61 earnings per share (EPS) for the quarter, topping 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 business had revenue of $450.68 million during the quarter, compared to the consensus estimate of $446.66 million. During the same period last year, the business posted $0.47 earnings per share. The business’s revenue for the quarter was up 16.0% on a year-over-year basis. As a group, equities analysts predict that Elastic will post 0.24 EPS for the current year.

Insider Activity at Elastic

In related news, CEO Ashutosh Kulkarni sold 40,373 shares of the firm’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 value of $2,447,007.53. Following the sale, the chief executive officer directly owned 628,752 shares of the company’s stock, valued at $38,108,658.72. This trade represents a 6.03% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Carolyn Herzog sold 9,485 shares of the stock in a transaction on Tuesday, June 9th. The stock was sold at an average price of $60.61, for a total transaction of $574,885.85. Following the completion of the transaction, the insider directly owned 128,439 shares in the company, valued at $7,784,687.79. The trade was a 6.88% decrease in their position. The disclosure for this sale is available in the SEC filing. 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 valued at $6,673,100 in the last ninety days. Insiders own 12.70% of the company’s stock.

Institutional Trading of Elastic

A number of hedge funds have recently made changes to their positions in the stock. Bessemer Group Inc. purchased a new stake in Elastic during the first quarter valued at about $25,000. Basecamp Wealth Advisors LLC bought a new stake in Elastic during the first quarter worth about $28,000. Geneos Wealth Management Inc. purchased a new position in shares of Elastic in the 2nd quarter worth about $31,000. Activest Wealth Management boosted its holdings 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 purchasing an additional 509 shares in the last quarter. Finally, Harbor Investment Advisory LLC bought a new position in shares of Elastic during the 2nd quarter valued at about $42,000. 97.03% of the stock is owned by institutional investors.

Elastic News Roundup

Here are the key news stories impacting Elastic this week:

• Positive Sentiment: Rosenblatt Securities reaffirmed its Buy rating and raised its price target to $83 from an undisclosed prior level. The target implies approximately 4.8% upside, providing near-term support for Elastic shares. Rosenblatt reiterates Buy rating on Elastic
• Positive Sentiment: Cantor Fitzgerald reportedly forecasts strong appreciation for Elastic stock, adding to the bullish analyst commentary surrounding the company. Cantor Fitzgerald forecasts strong appreciation for Elastic
• Positive Sentiment: Elastic reportedly closed an AI-related incident investigation while emphasizing a renewed observability push. Progress on AI reliability and observability could strengthen customer confidence and support demand for its platform. Elastic closes AI incident investigation and advances observability strategy
• Neutral Sentiment: DA Davidson raised its price target to $80 from $60 but maintained a Neutral rating. The new target indicates only about 1% upside, suggesting the firm views the recent rally as largely reflected in the valuation. DA Davidson raises Elastic price target
• Neutral Sentiment: Wells Fargo lifted its target to $80 from $60 while keeping an Equal Weight rating. The limited implied upside reinforces a cautious view despite the higher target. Wells Fargo raises Elastic price target
• Neutral Sentiment: Coverage of Elastic’s Russell 1000 earnings outlook highlights investor focus on upcoming results and whether AI-related demand can sustain growth. Its latest reported quarter included an EPS and revenue beat, with revenue rising 16% year over year. Elastic Russell 1000 earnings outlook
• Negative Sentiment: Recent coverage describes conflicting analyst sentiment, and multiple firms’ targets near the current trading range imply that valuation and expectations may limit further gains without stronger execution or guidance. Conflicting analyst sentiment on Elastic

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.