Elastic (NYSE:ESTC) Price Target Raised to $120.00

Elastic (NYSE:ESTC) had its target price upped by Stifel Nicolaus from $107.00 to $120.00 in a report released on Friday,Benzinga reports. The firm currently has a buy rating on the stock.

A number of other research analysts also recently commented on ESTC. Oppenheimer upped their price objective on Elastic from $100.00 to $118.00 and gave the stock an “outperform” rating in a research note on Friday, August 28th. Wells Fargo & Company increased their target price on Elastic from $60.00 to $80.00 and gave the stock an “equal weight” rating in a research report on Tuesday, August 25th. Canaccord Genuity Group raised their target price on Elastic from $80.00 to $120.00 and gave the company a “buy” rating in a research note on Friday, August 28th. Scotiabank boosted their price target on shares of Elastic from $58.00 to $84.00 and gave the company a “sector perform” rating in a report on Friday, August 28th. Finally, TD Cowen boosted their price target on shares of Elastic from $55.00 to $70.00 and gave the company a “hold” rating in a report on Tuesday, August 25th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and twelve have assigned a Hold rating to the company. According to data from MarketBeat, Elastic presently has an average rating of “Moderate Buy” and a consensus target price of $97.92.

Elastic Stock Down 0.1%

NYSE:ESTC opened at $98.18 on Friday. The firm has a market capitalization of $10.31 billion, a PE ratio of 27.50, a price-to-earnings-growth ratio of 8.25 and a beta of 1.03. The stock has a 50 day moving average of $86.50 and a 200-day moving average of $66.29. Elastic has a 52 week low of $42.05 and a 52 week high of $108.00. The company has a current ratio of 1.81, a quick ratio of 1.81 and a debt-to-equity ratio of 0.44.

Elastic (NYSE:ESTC) last announced its quarterly earnings results 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 for the quarter, compared to analysts’ expectations of $469.75 million. Elastic had a negative return on equity of 0.35% and a net margin of 20.84%. The business’s quarterly revenue was up 15.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.60 EPS. Elastic has set its FY 2027 guidance at 3.290-3.370 EPS and its Q2 2027 guidance at 0.800-0.820 EPS. Analysts predict that Elastic will post 0.65 EPS for the current year.

Insider Buying and Selling

In other news, CTO Shay Banon sold 84,207 shares of the company’s stock in a transaction that occurred on Monday, September 14th. The shares were sold at an average price of $84.64, for a total value of $7,127,280.48. Following the completion of the sale, the chief technology officer directly owned 3,910,563 shares of the company’s stock, valued at approximately $330,990,052.32. This represents a 2.11% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Carolyn Herzog sold 5,485 shares of the stock in a transaction that occurred on Wednesday, September 9th. The shares were sold at an average price of $87.78, for a total transaction of $481,473.30. Following the completion of the transaction, the insider owned 112,954 shares of the company’s stock, valued at $9,915,102.12. This trade represents a 4.63% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last quarter, insiders sold 2,585,641 shares of company stock worth $234,551,366. Company insiders own 12.70% of the company’s stock.

Institutional Investors Weigh In On Elastic

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. 180 Wealth Advisors LLC lifted its position in Elastic by 4.6% in the second quarter. 180 Wealth Advisors LLC now owns 6,027 shares of the company’s stock worth $344,000 after purchasing an additional 263 shares during the period. HB Wealth Management LLC increased its position in shares of Elastic by 11.2% during the 1st quarter. HB Wealth Management LLC now owns 4,363 shares of the company’s stock valued at $218,000 after purchasing an additional 441 shares during the period. Bessemer Group Inc. acquired a new position in shares of Elastic during the 1st quarter valued at $25,000. Basecamp Wealth Advisors LLC acquired a new position in shares of Elastic during the 1st quarter valued at $28,000. Finally, GAMMA Investing LLC increased its position in shares of Elastic by 61.9% during the 3rd quarter. GAMMA Investing LLC now owns 1,470 shares of the company’s stock valued at $135,000 after purchasing an additional 562 shares during the period. Institutional investors own 97.03% of the company’s stock.

Elastic News Summary

Here are the key news stories impacting Elastic this week:

• Positive Sentiment: Analyst sentiment improved: Monness Crespi & Hardt upgraded Elastic from “neutral” to “buy” and set a $120 price target. Stifel Nicolaus also raised its target from $107 to $120 and assigned a “buy” rating, while Wedbush reaffirmed its “outperform” rating with a $125 target. The targets imply meaningful upside from the stock’s recent trading level.
• Positive Sentiment: AI observability product launched: Elastic introduced a private preview of Elastic nightshift AI SRE, an AI agent designed to investigate incidents across an organization’s technology stack. It uses broad telemetry and contextual data, tests multiple root-cause hypotheses, and explains its findings, potentially improving the value of Elastic’s Observability platform. Elastic Introduces Elastic nightshift AI SRE
• Positive Sentiment: Security AI expansion: Elastic announced AlertZero, a team of specialized AI agents supporting the security operations lifecycle. The launch reinforces the company’s strategy of monetizing AI across observability and cybersecurity use cases. Elastic Announces AlertZero
• Neutral Sentiment: Recent commentary highlights Elastic’s potential to benefit from AI software demand, but questions remain about customer commitments, the economics of those contracts, and the time required for AI initiatives to translate into sustained profits.
• Negative Sentiment: Insider selling may weigh on sentiment: Insider Mark Eugene Dodds sold 10,000 shares, while former CEO Steven Schuurman sold 1.5 million shares. These transactions do not necessarily indicate a change in business outlook, but their size could raise concerns about insider confidence or create additional selling pressure. Elastic insider Steven Schuurman sells shares
• Negative Sentiment: One analysis argues that AI tailwinds may not fully offset competitive pressure, underscoring execution and rivalry risks in Elastic’s markets.

About Elastic

Elastic N.V. (NYSE: ESTC) develops search, observability and security software for organizations that need to collect, analyze and act on large volumes of data. Its platform helps users search structured and unstructured information, monitor applications and infrastructure, detect security threats and build artificial intelligence-powered experiences.

The company’s principal offerings include Elasticsearch, its distributed search and analytics engine; Kibana, a visualization and data exploration interface; and Elastic Cloud, a managed cloud service for deploying Elastic products.