Elastic N.V. (NYSE:ESTC) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of Elastic N.V. (NYSE:ESTC) have earned a consensus recommendation of “Moderate Buy” from the thirty brokerages that are currently covering the company, MarketBeat Ratings reports. Thirteen research analysts have rated the stock with a hold recommendation and seventeen have issued a buy recommendation on the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $86.6667.

Several equities research analysts recently commented on ESTC shares. Royal Bank Of Canada boosted their price objective on shares of Elastic from $70.00 to $87.00 and gave the stock an “outperform” rating in a research report on Friday, August 14th. Truist Financial lifted their target price on shares of Elastic from $80.00 to $100.00 and gave the stock a “buy” rating in a research report on Thursday, August 20th. Zacks Research upgraded shares of Elastic from a “strong sell” rating to a “hold” rating in a research report on Friday, June 26th. DA Davidson dropped their price objective on shares of Elastic from $65.00 to $60.00 and set a “neutral” rating for the company in a research note on Friday, May 29th. Finally, UBS Group restated a “buy” rating and set a $85.00 price objective on shares of Elastic in a research report on Friday, May 29th.

Elastic Stock Performance

NYSE ESTC opened at $80.43 on Wednesday. The business has a 50 day moving average price of $66.52 and a 200 day moving average price of $58.43. The company has a market capitalization of $8.36 billion, a P/E ratio of 22.98, a PEG ratio of 20.87 and a beta of 0.98. Elastic has a 1-year low of $42.05 and a 1-year high of $96.07. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.68 and a quick ratio of 1.68.

Elastic (NYSE:ESTC) last posted its earnings results on Thursday, May 28th. The company reported $0.61 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 company had revenue of $450.68 million for the quarter, compared to the consensus estimate of $446.66 million. During the same period in the previous year, the business earned $0.47 earnings per share. Elastic’s quarterly revenue was up 16.0% compared to the same quarter last year. Elastic has set its FY 2027 guidance at 3.210-3.290 EPS and its Q1 2027 guidance at 0.570-0.590 EPS. Sell-side analysts expect that Elastic will post 0.24 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Ashutosh Kulkarni sold 40,373 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 $2,447,007.53. Following the sale, the chief executive officer 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 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 dated 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 transaction, the chief financial officer owned 209,254 shares in the company, valued at approximately $12,682,884.94. This trade represents a 5.83% decrease in their ownership of the stock. 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. Over the last 90 days, insiders sold 110,099 shares of company stock valued at $6,673,100. Company insiders own 12.70% of the company’s stock.

Hedge Funds Weigh In On Elastic

A number of institutional investors have recently modified their holdings of the company. Bessemer Group Inc. acquired a new stake in Elastic during the first quarter worth approximately $25,000. Basecamp Wealth Advisors LLC purchased a new position in shares of Elastic during the 1st quarter worth $28,000. Geneos Wealth Management Inc. purchased a new position in shares of Elastic during the 2nd quarter worth $31,000. Activest Wealth Management boosted its holdings in shares of Elastic by 3,181.2% during the fourth quarter. Activest Wealth Management now owns 525 shares of the company’s stock worth $40,000 after purchasing an additional 509 shares during the last quarter. Finally, Harbor Investment Advisory LLC acquired a new stake in shares of Elastic during the second quarter worth $42,000. Institutional investors and hedge funds 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.