Citigroup Lowers Elastic (NYSE:ESTC) Price Target to $115.00

Elastic (NYSE:ESTC) had its price objective decreased by equities researchers at Citigroup from $130.00 to $115.00 in a note issued to investors on Monday,Benzinga reports. The firm currently has a “buy” rating on the stock. Citigroup’s price objective would suggest a potential upside of 65.21% from the stock’s current price.

ESTC has been the topic of several other research reports. Stifel Nicolaus reduced their price target on shares of Elastic from $134.00 to $108.00 and set a “buy” rating on the stock in a research report on Friday, November 21st. Scotiabank decreased their target price on shares of Elastic from $90.00 to $76.00 and set a “sector perform” rating on the stock in a research report on Friday. Cantor Fitzgerald lowered their price target on shares of Elastic from $94.00 to $85.00 and set a “neutral” rating for the company in a report on Friday, November 21st. Barclays reduced their price objective on Elastic from $125.00 to $107.00 and set an “overweight” rating on the stock in a research note on Friday, November 21st. Finally, Royal Bank Of Canada decreased their price objective on Elastic from $125.00 to $115.00 and set an “outperform” rating on the stock in a research report on Friday, November 21st. Seventeen research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $107.25.

Elastic Trading Up 0.8%

Shares of ESTC stock opened at $69.61 on Monday. The company has a current ratio of 2.09, a quick ratio of 2.09 and a debt-to-equity ratio of 0.59. The stock has a market capitalization of $7.40 billion, a price-to-earnings ratio of -67.58 and a beta of 1.04. Elastic has a 12-month low of $68.10 and a 12-month high of $118.84. The stock’s 50-day moving average price is $85.75 and its 200-day moving average price is $85.26.

Elastic (NYSE:ESTC) last released its quarterly earnings results on Thursday, November 20th. The company reported $0.64 earnings per share for the quarter, beating the consensus estimate of $0.58 by $0.06. Elastic had a negative return on equity of 2.01% and a negative net margin of 6.79%.The business had revenue of $423.48 million during the quarter, compared to analysts’ expectations of $418.27 million. During the same quarter last year, the business posted $0.59 EPS. The firm’s revenue for the quarter was up 15.9% compared to the same quarter last year. Elastic has set its Q3 2026 guidance at 0.630-0.65 EPS. Equities research analysts predict that Elastic will post -0.77 EPS for the current fiscal year.

Elastic announced that its Board of Directors has initiated a stock buyback program on Thursday, October 9th that permits the company to repurchase $0.00 in shares. This repurchase authorization permits the company to reacquire shares of its stock through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its shares are undervalued.

Insider Activity

In other Elastic news, insider Ken Exner sold 6,290 shares of the company’s stock in a transaction on Tuesday, September 9th. The stock was sold at an average price of $90.12, for a total value of $566,854.80. Following the transaction, the insider owned 233,582 shares of the company’s stock, valued at $21,050,409.84. This represents a 2.62% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Carolyn Herzog sold 5,143 shares of the stock in a transaction on Tuesday, September 9th. The stock was sold at an average price of $90.12, for a total value of $463,487.16. Following the completion of the sale, the insider owned 94,677 shares in the company, valued at approximately $8,532,291.24. The trade was a 5.15% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 352,042 shares of company stock valued at $31,087,394. 12.70% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Geode Capital Management LLC increased its holdings in Elastic by 3.6% during the 2nd quarter. Geode Capital Management LLC now owns 1,569,578 shares of the company’s stock worth $132,384,000 after purchasing an additional 54,812 shares during the period. Y Intercept Hong Kong Ltd increased its stake in shares of Elastic by 147.0% during the second quarter. Y Intercept Hong Kong Ltd now owns 57,690 shares of the company’s stock valued at $4,865,000 after buying an additional 34,336 shares during the period. AXQ Capital LP bought a new stake in shares of Elastic in the second quarter valued at about $419,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in Elastic by 3.0% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 429,526 shares of the company’s stock worth $38,271,000 after acquiring an additional 12,510 shares during the period. Finally, Acadian Asset Management LLC grew its holdings in Elastic by 534.4% during the 2nd quarter. Acadian Asset Management LLC now owns 128,651 shares of the company’s stock worth $10,840,000 after acquiring an additional 108,372 shares in the last quarter. 97.03% of the stock is currently owned by institutional investors.

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.