Cantor Fitzgerald Cuts Elastic (NYSE:ESTC) Price Target to $85.00

Elastic (NYSE:ESTC) had its price objective cut by research analysts at Cantor Fitzgerald from $94.00 to $85.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Cantor Fitzgerald’s price target indicates a potential upside of 16.51% from the stock’s previous close.

ESTC has been the subject of a number of other research reports. Wall Street Zen raised shares of Elastic from a “hold” rating to a “buy” rating in a research note on Saturday, October 11th. Jefferies Financial Group raised their price target on shares of Elastic from $110.00 to $125.00 and gave the stock a “buy” rating in a research report on Friday, August 29th. Canaccord Genuity Group set a $115.00 price target on Elastic in a report on Friday. Barclays increased their price target on Elastic from $105.00 to $125.00 and gave the stock an “overweight” rating in a research report on Friday, August 29th. Finally, Rosenblatt Securities reiterated a “buy” rating and set a $130.00 price target on shares of Elastic in a research report on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, twelve have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $112.88.

Elastic Stock Down 11.1%

Shares of ESTC opened at $72.96 on Friday. 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 business has a fifty day moving average of $86.82 and a 200 day moving average of $85.56. The company has a market cap of $7.75 billion, a PE ratio of -92.05 and a beta of 1.04. Elastic has a 52-week low of $70.14 and a 52-week high of $118.84.

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

Elastic announced that its Board of Directors has authorized a stock buyback program on Thursday, October 9th that authorizes the company to buyback $0.00 in outstanding shares. This buyback authorization authorizes the company to buy shares of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its shares are undervalued.

Insider Buying and Selling

In related news, insider Ken Exner sold 6,290 shares of the business’s stock in a transaction on Tuesday, September 9th. The shares were sold at an average price of $90.12, for a total transaction of $566,854.80. Following the completion of the transaction, the insider owned 233,582 shares in the company, valued at approximately $21,050,409.84. The trade was a 2.62% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CAO Jane E. Bone sold 1,250 shares of the stock in a transaction that occurred on Monday, October 13th. The shares were sold at an average price of $87.22, for a total transaction of $109,025.00. Following the completion of the transaction, the chief accounting officer owned 37,633 shares in the company, valued at $3,282,350.26. This represents a 3.21% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 352,042 shares of company stock worth $31,087,394. Corporate insiders own 12.70% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in ESTC. Geneos Wealth Management Inc. acquired a new position in shares of Elastic during the 2nd quarter worth $31,000. Smartleaf Asset Management LLC increased its position in Elastic by 53.7% during the 1st quarter. Smartleaf Asset Management LLC now owns 435 shares of the company’s stock worth $40,000 after purchasing an additional 152 shares in the last quarter. Huntington National Bank boosted its position in Elastic by 97.5% during the second quarter. Huntington National Bank now owns 468 shares of the company’s stock worth $39,000 after acquiring an additional 231 shares during the last quarter. Plato Investment Management Ltd purchased a new position in shares of Elastic during the 2nd quarter worth $40,000. Finally, Promus Capital LLC acquired a new stake in Elastic in the 2nd quarter worth about $45,000. 97.03% of the stock is currently owned by institutional investors and hedge funds.

About Elastic

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.