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

Elastic N.V. (NYSE:ESTC) has received an average recommendation of “Moderate Buy” from the twenty-nine research firms that are presently covering the company, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, eleven have assigned a hold recommendation and seventeen have given a buy recommendation to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $106.00.

A number of equities research analysts recently issued reports on the stock. Canaccord Genuity Group dropped their price target on shares of Elastic from $120.00 to $115.00 and set a “buy” rating on the stock in a research note on Friday, November 21st. DA Davidson reduced their price objective on shares of Elastic from $100.00 to $80.00 and set a “neutral” rating for the company in a research report on Friday, November 21st. Piper Sandler dropped their target price on shares of Elastic from $125.00 to $110.00 and set an “overweight” rating on the stock in a research report on Friday, November 21st. Morgan Stanley cut their target price on shares of Elastic from $120.00 to $110.00 and set an “overweight” rating for the company in a research note on Friday, November 21st. Finally, Citigroup reduced their price target on shares of Elastic from $130.00 to $115.00 and set a “buy” rating for the company in a research report on Monday, November 24th.

Elastic Trading Up 2.4%

Shares of Elastic stock opened at $74.33 on Tuesday. The firm has a 50-day simple moving average of $79.74 and a two-hundred day simple moving average of $82.63. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.97 and a current ratio of 1.97. Elastic has a fifty-two week low of $68.10 and a fifty-two week high of $118.84. The company has a market cap of $7.83 billion, a P/E ratio of -72.17, a price-to-earnings-growth ratio of 287.78 and a beta of 0.92.

Elastic (NYSE:ESTC) last posted its earnings results on Thursday, November 20th. The company reported $0.64 EPS for the quarter, beating analysts’ consensus estimates of $0.58 by $0.06. The firm had revenue of $423.48 million for the quarter, compared to analysts’ expectations of $418.27 million. Elastic had a negative return on equity of 2.02% and a negative net margin of 6.79%.The company’s quarterly revenue was up 15.9% on a year-over-year basis. During the same period last year, the firm earned $0.59 EPS. Elastic has set its Q3 2026 guidance at 0.630-0.65 EPS. As a group, equities analysts predict that Elastic will post -0.77 earnings per share for the current fiscal year.

Elastic announced that its board has initiated a stock buyback program on Thursday, October 9th that permits the company to repurchase $0.00 in outstanding shares. This repurchase authorization permits the company to repurchase shares of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s management believes its stock is undervalued.

Insider Activity at Elastic

In related news, CTO Shay Banon sold 4,552 shares of the business’s stock in a transaction that occurred on Tuesday, December 9th. The stock was sold at an average price of $75.05, for a total transaction of $341,627.60. Following the completion of the sale, the chief technology officer directly owned 4,359,228 shares in the company, valued at approximately $327,160,061.40. The trade was a 0.10% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Ashutosh Kulkarni sold 5,000 shares of the stock in a transaction on Monday, December 15th. The shares were sold at an average price of $74.60, for a total value of $373,000.00. Following the completion of the transaction, the chief executive officer directly owned 426,901 shares of the company’s stock, valued at approximately $31,846,814.60. This represents a 1.16% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 61,891 shares of company stock worth $4,654,707 in the last quarter. Corporate insiders own 12.70% of the company’s stock.

Institutional Investors Weigh In On Elastic

A number of hedge funds have recently modified their holdings of the business. Geneos Wealth Management Inc. purchased a new position in shares of Elastic in the second quarter worth about $31,000. Huntington National Bank grew its stake in Elastic by 97.5% during the 2nd quarter. Huntington National Bank now owns 468 shares of the company’s stock valued at $39,000 after acquiring an additional 231 shares in the last quarter. Plato Investment Management Ltd acquired a new stake in Elastic in the 2nd quarter valued at about $40,000. Promus Capital LLC acquired a new stake in Elastic in the 2nd quarter valued at about $45,000. Finally, True Wealth Design LLC lifted its stake in Elastic by 391.2% in the 3rd quarter. True Wealth Design LLC now owns 673 shares of the company’s stock worth $57,000 after purchasing an additional 536 shares in the last quarter. 97.03% of the stock is currently owned by institutional investors and hedge funds.

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.