Elastic (NYSE:ESTC) Price Target Raised to $104.00 at Citigroup

Elastic (NYSE:ESTC) had its target price raised by Citigroup from $95.00 to $104.00 in a report released on Friday morning,Benzinga reports. They currently have a buy rating on the stock.

Other equities research analysts have also issued reports about the stock. TD Cowen lowered their price target on shares of Elastic from $65.00 to $60.00 and set a “hold” rating for the company in a report on Tuesday. The Goldman Sachs Group assumed coverage on shares of Elastic in a report on Tuesday, April 21st. They set a “neutral” rating and a $50.00 price target for the company. Royal Bank Of Canada lowered their price target on shares of Elastic from $80.00 to $70.00 and set an “outperform” rating for the company in a report on Thursday, April 16th. Scotiabank lowered their price target on shares of Elastic from $61.00 to $58.00 and set a “sector perform” rating for the company in a report on Friday. Finally, Oppenheimer decreased their target price on Elastic from $85.00 to $75.00 and set an “outperform” rating for the company in a report on Friday. Eighteen analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $80.04.

Elastic Trading Up 12.5%

NYSE:ESTC opened at $64.82 on Friday. The company has a fifty day moving average of $50.38 and a 200 day moving average of $62.83. Elastic has a 52 week low of $42.05 and a 52 week high of $96.07. The company has a quick ratio of 1.82, a current ratio of 1.82 and a debt-to-equity ratio of 0.72. The firm has a market capitalization of $6.71 billion, a P/E ratio of 18.52, a P/E/G ratio of 109.01 and a beta of 0.88.

Elastic (NYSE:ESTC) last posted its quarterly earnings results on Thursday, May 28th. The company reported $0.61 EPS for the quarter, beating analysts’ consensus estimates of $0.56 by $0.05. Elastic had a net margin of 21.14% and a negative return on equity of 2.02%. The company had revenue of $450.68 million during the quarter, compared to analyst estimates of $446.66 million. During the same period in the prior year, the business posted $0.47 EPS. The firm’s revenue was up 16.0% compared to the same quarter last year. Elastic has set its FY 2027 guidance at 3.210-3.290 EPS and its Q1 2027 guidance at 0.570-0.590 EPS. On average, research analysts predict that Elastic will post 0.02 earnings per share for the current year.

Insiders Place Their Bets

In other Elastic news, insider Ken Exner sold 4,310 shares of the company’s stock in a transaction on Monday, March 9th. The shares were sold at an average price of $52.28, for a total value of $225,326.80. Following the completion of the transaction, the insider directly owned 222,728 shares in the company, valued at approximately $11,644,219.84. This represents a 1.90% decrease in their position. 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 17,756 shares of the company’s stock in a transaction on Monday, March 9th. The stock was sold at an average price of $52.28, for a total transaction of $928,283.68. Following the completion of the transaction, the chief executive officer owned 409,145 shares of the company’s stock, valued at $21,390,100.60. This trade represents a 4.16% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 38,188 shares of company stock worth $1,996,469. Company insiders own 12.70% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. Edgestream Partners L.P. bought a new position in Elastic in the 1st quarter worth $444,000. Bull Harbor Capital LLC bought a new position in Elastic in the 1st quarter worth $456,000. Smith Group Asset Management LLC increased its stake in shares of Elastic by 2.2% in the 1st quarter. Smith Group Asset Management LLC now owns 37,168 shares of the company’s stock worth $1,858,000 after acquiring an additional 795 shares in the last quarter. Amundi increased its stake in shares of Elastic by 37.2% in the 1st quarter. Amundi now owns 296,604 shares of the company’s stock worth $14,827,000 after acquiring an additional 80,441 shares in the last quarter. Finally, California State Teachers Retirement System lifted its position in Elastic by 21.8% during the 1st quarter. California State Teachers Retirement System now owns 104,579 shares of the company’s stock valued at $5,228,000 after acquiring an additional 18,716 shares during the period. 97.03% of the stock is currently owned by institutional investors.

Key Stories Impacting Elastic

Here are the key news stories impacting Elastic this week:

• Positive Sentiment: Elastic beat fiscal Q4 expectations, reporting EPS of $0.61 versus $0.56 expected and revenue of $450.7 million versus $446.7 million expected, with revenue up 16% year over year. Elastic Reports Fourth Quarter and Fiscal 2026 Financial Results
• Positive Sentiment: The company also issued first-quarter and full-year guidance above consensus for EPS, suggesting management sees continued earnings momentum. Elastic Reports Fourth Quarter and Fiscal 2026 Financial Results
• Positive Sentiment: Wall Street remains broadly constructive: Citigroup raised its price target to $104, and other firms like Jefferies, Canaccord, Oppenheimer, and Barclays still have buy/outperform-style ratings even after trimming targets. Analyst target updates
• Neutral Sentiment: Several analysts cut price targets after the report, including Barclays, Jefferies, Canaccord Genuity, Wedbush, and Oppenheimer, which signals some valuation caution rather than a thesis change. Analyst target updates
• Neutral Sentiment: Some investors may also be focusing on management’s fiscal 2027 outlook implying mid-teens revenue growth, which is still healthy but may look slower than the market hoped for after a strong quarter. Elastic shares fall 3.2% as investors digest Q4 results and fiscal 2027 outlook
• Negative Sentiment: Despite the beat, the stock has been volatile because investors were disappointed by the initial post-earnings reaction and are weighing strong growth against the company’s still-negative margins. Elastic N.V. (ESTC) Stock Falls on Q4 2026 Earnings

About Elastic

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.