Royal Bank Of Canada Issues Pessimistic Forecast for Elastic (NYSE:ESTC) Stock Price

Elastic (NYSE:ESTC) had its price objective cut by stock analysts at Royal Bank Of Canada from $115.00 to $95.00 in a report released on Monday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Royal Bank Of Canada’s price objective indicates a potential upside of 25.76% from the stock’s current price.

A number of other equities research analysts also recently weighed in on ESTC. Morgan Stanley decreased their price target on shares of Elastic from $120.00 to $110.00 and set an “overweight” rating on the stock in a research note on Friday, November 21st. Wedbush decreased their target price on shares of Elastic from $110.00 to $90.00 and set an “outperform” rating on the stock in a research report on Friday, November 21st. Rosenblatt Securities reissued a “buy” rating and issued a $130.00 price target on shares of Elastic in a research report on Wednesday, November 19th. Piper Sandler cut their price target on shares of Elastic from $125.00 to $110.00 and set an “overweight” rating for the company in a research note on Friday, November 21st. Finally, UBS Group decreased their price objective on Elastic from $125.00 to $110.00 and set a “buy” rating on the stock in a report on Friday, November 21st. Seventeen analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Elastic presently has a consensus rating of “Moderate Buy” and a consensus price target of $106.00.

Elastic Stock Performance

NYSE ESTC opened at $75.54 on Monday. The company’s fifty day moving average is $79.51 and its two-hundred day moving average is $82.58. Elastic has a 52-week low of $68.10 and a 52-week high of $118.84. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.97 and a quick ratio of 1.97. The firm has a market capitalization of $7.96 billion, a price-to-earnings ratio of -73.34, a P/E/G ratio of 294.72 and a beta of 0.92.

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

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

Insider Buying and Selling

In other Elastic news, CEO Ashutosh Kulkarni sold 20,413 shares of Elastic stock in a transaction on Tuesday, December 9th. The stock was sold at an average price of $75.05, for a total value of $1,531,995.65. Following the completion of the transaction, the chief executive officer owned 431,901 shares in the company, valued at approximately $32,414,170.05. The trade was a 4.51% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Carolyn Herzog sold 5,353 shares of the business’s stock in a transaction on Tuesday, December 9th. The stock was sold at an average price of $75.05, for a total value of $401,742.65. Following the completion of the transaction, the insider directly owned 89,324 shares in the company, valued at approximately $6,703,766.20. This represents a 5.65% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 61,891 shares of company stock valued at $4,654,707 in the last ninety days. 12.70% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Geneos Wealth Management Inc. bought a new stake in Elastic during the 2nd quarter worth about $31,000. Huntington National Bank grew its stake in shares of Elastic by 97.5% during the second quarter. Huntington National Bank now owns 468 shares of the company’s stock valued at $39,000 after purchasing an additional 231 shares during the last quarter. Plato Investment Management Ltd acquired a new stake in shares of Elastic in the second quarter valued at approximately $40,000. Promus Capital LLC bought a new position in Elastic in the 2nd quarter worth approximately $45,000. Finally, True Wealth Design LLC raised its position 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 during the last quarter. 97.03% of the stock is owned by institutional investors.

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.