Barclays Has Lowered Expectations for Elastic (NYSE:ESTC) Stock Price

Elastic (NYSE:ESTC) had its target price dropped by analysts at Barclays from $125.00 to $107.00 in a report issued on Friday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Barclays‘s price target would suggest a potential upside of 49.35% from the company’s previous close.

Several other equities research analysts have also recently issued reports on ESTC. Canaccord Genuity Group set a $115.00 price objective on Elastic in a report on Friday. Piper Sandler decreased their target price on Elastic from $125.00 to $110.00 and set an “overweight” rating on the stock in a research report on Friday. DA Davidson initiated coverage on Elastic in a research note on Friday, August 29th. They issued a “neutral” rating and a $105.00 price target on the stock. UBS Group reduced their price objective on Elastic from $125.00 to $110.00 and set a “buy” rating for the company in a research note on Friday. Finally, Wall Street Zen upgraded Elastic from a “hold” rating to a “buy” rating in a report on Saturday, October 11th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating, thirteen have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Elastic currently has an average rating of “Moderate Buy” and a consensus target price of $110.68.

Elastic Price Performance

Shares of ESTC stock traded down $10.43 during trading hours on Friday, hitting $71.65. 4,739,471 shares of the company’s stock were exchanged, compared to its average volume of 1,744,439. Elastic has a fifty-two week low of $68.78 and a fifty-two week high of $118.84. The firm has a market cap of $7.61 billion, a P/E ratio of -89.52 and a beta of 1.04. The company has a quick ratio of 2.09, a current ratio of 2.09 and a debt-to-equity ratio of 0.59. The firm has a 50 day moving average of $86.82 and a two-hundred day moving average of $85.56.

Elastic (NYSE:ESTC) last issued its quarterly earnings results on Thursday, August 28th. The company reported ($0.08) EPS for the quarter, missing the consensus estimate of $0.42 by ($0.50). The company had revenue of $415.29 million during the quarter, compared to analysts’ expectations of $397.13 million. Elastic had a negative return on equity of 1.68% and a negative net margin of 5.38%.Elastic’s revenue was up 19.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.35 EPS. Elastic has set its FY 2026 guidance at 2.290-2.350 EPS. Q2 2026 guidance at 0.560-0.580 EPS. Sell-side analysts forecast that Elastic will post -0.77 EPS for the current year.

Elastic declared that its Board of Directors has approved a share repurchase program on Thursday, October 9th that permits the company to buyback $0.00 in outstanding shares. This buyback authorization permits the company to purchase shares of its stock through open market purchases. Shares buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Insiders Place Their Bets

In other news, insider Carolyn Herzog sold 5,143 shares of the firm’s stock in a transaction that occurred on Tuesday, September 9th. The shares were sold at an average price of $90.12, for a total transaction of $463,487.16. Following the completion of the sale, the insider owned 94,677 shares in the company, valued at $8,532,291.24. This trade represents a 5.15% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Ashutosh Kulkarni sold 5,000 shares of the stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $88.12, for a total value of $440,600.00. Following the completion of the transaction, the chief executive officer owned 452,314 shares of the company’s stock, valued at $39,857,909.68. The trade was a 1.09% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 352,042 shares of company stock worth $31,087,394. 12.70% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. Achmea Investment Management B.V. increased its position in shares of Elastic by 3.1% during the third quarter. Achmea Investment Management B.V. now owns 170,200 shares of the company’s stock valued at $14,380,000 after acquiring an additional 5,146 shares during the last quarter. Ariadne Wealth Management LP purchased a new position in shares of Elastic during the 3rd quarter worth approximately $256,000. Caerus Investment Advisors LLC acquired a new stake in Elastic in the 3rd quarter valued at approximately $500,000. Captrust Financial Advisors boosted its position in shares of Elastic by 119.2% during the third quarter. Captrust Financial Advisors now owns 18,058 shares of the company’s stock worth $1,526,000 after buying an additional 9,819 shares during the period. Finally, Danske Bank A S acquired a new stake in shares of Elastic in the third quarter valued at $850,000. Hedge funds and other institutional investors own 97.03% of the company’s stock.

Elastic Company Profile

Elastic N.V., a data analytics company, delivers solutions designed to run in public or private clouds in multi-cloud environments. It primarily offers Elastic Stack, a set of software products that ingest and store data from various sources and formats, as well as performs search, analysis, and visualization on that data.