Canaccord Genuity Group Forecasts Strong Price Appreciation for Elastic (NYSE:ESTC) Stock

Elastic (NYSE:ESTC) had its price target boosted by analysts at Canaccord Genuity Group from $80.00 to $120.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Canaccord Genuity Group’s target price would suggest a potential upside of 16.67% from the company’s current price.

Several other research analysts also recently commented on the stock. William Blair initiated coverage on shares of Elastic in a report on Friday, May 22nd. They issued an “outperform” rating on the stock. Wedbush decreased their price target on shares of Elastic from $74.00 to $65.00 and set an “outperform” rating for the company in a report on Friday, May 29th. Bank of America raised their price target on Elastic from $90.00 to $108.00 and gave the company a “neutral” rating in a research report on Friday. Piper Sandler reiterated an “overweight” rating on shares of Elastic in a research note on Friday. Finally, Barclays boosted their price objective on Elastic from $68.00 to $94.00 and gave the stock an “overweight” rating in a research report on Monday. Seventeen investment analysts have rated the stock with a Buy rating and thirteen have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $91.07.

Elastic Stock Performance

ESTC stock traded up $19.11 during midday trading on Friday, hitting $102.85. 2,016,851 shares of the company traded hands, compared to its average volume of 2,077,187. Elastic has a twelve month low of $42.05 and a twelve month high of $108.00. The stock has a market capitalization of $10.69 billion, a price-to-earnings ratio of 29.39, a price-to-earnings-growth ratio of 19.77 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. The business has a 50 day simple moving average of $67.44 and a 200-day simple moving average of $58.76.

Elastic (NYSE:ESTC) last issued its quarterly earnings data on Thursday, August 27th. The company reported $0.70 earnings per share for the quarter, topping analysts’ consensus estimates of $0.58 by $0.12. The business had revenue of $478.11 million during the quarter, compared to analysts’ expectations of $469.75 million. Elastic had a net margin of 21.14% and a negative return on equity of 1.82%. Elastic’s revenue for the quarter was up 15.2% on a year-over-year basis. During the same period in the previous year, the company earned $0.60 earnings per share. Elastic has set its FY 2027 guidance at 3.290-3.370 EPS and its Q2 2027 guidance at 0.800-0.820 EPS. As a group, equities research analysts predict that Elastic will post 0.24 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider Carolyn Herzog sold 9,485 shares of Elastic stock in a transaction dated Tuesday, June 9th. The stock was sold at an average price of $60.61, for a total transaction of $574,885.85. Following the sale, the insider directly owned 128,439 shares of the company’s stock, valued at $7,784,687.79. This trade represents a 6.88% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Ken Exner sold 18,449 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 value of $1,118,193.89. Following the completion of the transaction, the insider directly owned 360,037 shares of the company’s stock, valued at approximately $21,821,842.57. This trade represents a 4.87% 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 quarter. 12.70% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Elastic

Several large investors have recently modified their holdings of the stock. Orion Porfolio Solutions LLC boosted its stake in Elastic by 1.4% in the 3rd quarter. Orion Porfolio Solutions LLC now owns 8,593 shares of the company’s stock valued at $726,000 after buying an additional 118 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its stake in shares of Elastic by 17.3% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,159 shares of the company’s stock valued at $98,000 after purchasing an additional 171 shares in the last quarter. Public Employees Retirement System of Ohio grew its holdings in shares of Elastic by 0.6% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 28,323 shares of the company’s stock worth $2,393,000 after purchasing an additional 175 shares during the last quarter. California State Teachers Retirement System increased its position in shares of Elastic by 0.3% during the 2nd quarter. California State Teachers Retirement System now owns 83,403 shares of the company’s stock worth $7,033,000 after purchasing an additional 219 shares in the last quarter. Finally, 180 Wealth Advisors LLC lifted its holdings in Elastic by 4.6% during the 2nd quarter. 180 Wealth Advisors LLC now owns 6,027 shares of the company’s stock valued at $344,000 after purchasing an additional 263 shares during the last quarter. 97.03% of the stock is currently owned by institutional investors.

Elastic News Summary

Here are the key news stories impacting Elastic this week:

• Positive Sentiment: Quarterly beat: Elastic reported adjusted EPS of $0.70, exceeding the $0.58 consensus estimate, while revenue rose 15.2% year over year to $478.1 million, ahead of the approximately $469.8 million analyst forecast. Elastic quarterly earnings report
• Positive Sentiment: Raised outlook: Fiscal 2027 EPS guidance of $3.29-$3.37 is substantially above the $2.64 consensus estimate. Second-quarter EPS guidance of $0.80-$0.82 also exceeds expectations of $0.66, while projected revenue of $486-$487 million is above the $483.2 million consensus. The guidance upgrade is a major reason investors are reassessing the company’s growth and profitability outlook. Elastic fiscal 2027 results
• Positive Sentiment: Analyst support: Robert W. Baird raised its price target from $95 to $120 and assigned an “outperform” rating, implying meaningful upside from the current trading level. Rosenblatt Securities also reaffirmed its “buy” rating. Benzinga analyst update
• Neutral Sentiment: DA Davidson increased its price target from $60 to $80 but maintained a “neutral” rating. This reflects improving expectations while signaling that valuation and execution risks remain after the sharp rally. DA Davidson raises Elastic price target
• Negative Sentiment: Quiver Quantitative data shows 14 insider sales and no insider purchases over the past six months. Although these transactions may reflect scheduled or compensation-related selling, the absence of insider buying could temper enthusiasm. The stock also trades near the upper portion of its 52-week range, increasing sensitivity to any future guidance or execution disappointment.

Elastic Company Profile

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.