Scotiabank Has Bullish Forecast for Elastic FY2026 Earnings

Elastic (NYSE:ESTC) – Investment analysts at Scotiabank upped their FY2026 EPS estimates for Elastic in a research report issued on Monday, June 9th. Scotiabank analyst P. Colville now forecasts that the company will post earnings of ($0.21) per share for the year, up from their prior estimate of ($0.87). Scotiabank has a “Sector Outperform” rating and a $95.00 price objective on the stock. The consensus estimate for Elastic’s current full-year earnings is ($0.77) per share.

Elastic (NYSE:ESTC) last issued its earnings results on Thursday, May 29th. The company reported $0.47 earnings per share for the quarter, topping the consensus estimate of $0.37 by $0.10. The company had revenue of $388.43 million for the quarter, compared to analyst estimates of $380.61 million. Elastic had a net margin of 4.39% and a negative return on equity of 13.20%. The firm’s revenue for the quarter was up 15.9% compared to the same quarter last year. During the same period in the prior year, the business posted $0.21 earnings per share.

A number of other equities analysts also recently weighed in on the stock. Truist Financial cut their price target on shares of Elastic from $145.00 to $140.00 and set a “buy” rating on the stock in a research note on Monday, March 31st. Barclays lowered their price target on shares of Elastic from $124.00 to $105.00 and set an “overweight” rating for the company in a report on Friday, May 30th. Royal Bank of Canada decreased their price objective on shares of Elastic from $119.00 to $115.00 and set an “outperform” rating for the company in a report on Friday, May 30th. Guggenheim decreased their price objective on shares of Elastic from $136.00 to $107.00 and set a “buy” rating for the company in a report on Friday, May 30th. Finally, Stifel Nicolaus reduced their price target on shares of Elastic from $140.00 to $112.00 and set a “buy” rating on the stock in a research report on Friday, May 30th. Eight analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $113.63.

Elastic Stock Down 4.7%

ESTC stock opened at $79.32 on Thursday. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.99 and a quick ratio of 1.99. The firm has a market capitalization of $8.28 billion, a PE ratio of 144.22 and a beta of 1.07. The company’s 50 day simple moving average is $85.02 and its 200-day simple moving average is $96.83. Elastic has a 12 month low of $69.00 and a 12 month high of $123.96.

Institutional Investors Weigh In On Elastic

Institutional investors have recently added to or reduced their stakes in the business. SBI Securities Co. Ltd. purchased a new stake in shares of Elastic in the fourth quarter worth about $25,000. Cloud Capital Management LLC bought a new position in Elastic during the first quarter valued at approximately $25,000. Fourth Dimension Wealth LLC bought a new position in Elastic during the fourth quarter valued at approximately $26,000. Venturi Wealth Management LLC grew its position in Elastic by 793.3% during the fourth quarter. Venturi Wealth Management LLC now owns 268 shares of the company’s stock valued at $27,000 after acquiring an additional 238 shares during the last quarter. Finally, Smartleaf Asset Management LLC grew its holdings in shares of Elastic by 126.4% in the fourth quarter. Smartleaf Asset Management LLC now owns 283 shares of the company’s stock worth $28,000 after purchasing an additional 158 shares during the last quarter. 97.03% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, insider Ken Exner sold 6,918 shares of Elastic stock in a transaction on Monday, June 9th. The shares were sold at an average price of $86.91, for a total value of $601,243.38. Following the completion of the sale, the insider now owns 230,494 shares in the company, valued at $20,032,233.54. The trade was a 2.91% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Navam Welihinda sold 2,261 shares of the business’s stock in a transaction on Monday, June 9th. The shares were sold at an average price of $86.91, for a total transaction of $196,503.51. Following the sale, the chief financial officer now owns 133,925 shares of the company’s stock, valued at $11,639,421.75. This trade represents a 1.66% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 53,413 shares of company stock worth $4,720,774 in the last ninety days. Company insiders own 15.90% 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.