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

Elastic N.V. (NYSE:ESTC) has been given a consensus recommendation of “Moderate Buy” by the thirty-one research firms that are currently covering the firm, MarketBeat reports. Two investment analysts have rated the stock with a sell recommendation, eleven have assigned a hold recommendation and eighteen have given a buy recommendation to the company. The average twelve-month price objective among analysts that have covered the stock in the last year is $80.0370.

Several equities research analysts have weighed in on the company. Oppenheimer cut their price target on Elastic from $85.00 to $75.00 and set an “outperform” rating on the stock in a report on Friday, May 29th. Scotiabank dropped their price objective on Elastic from $61.00 to $58.00 and set a “sector perform” rating on the stock in a report on Friday, May 29th. Wedbush dropped their price objective on Elastic from $74.00 to $65.00 and set an “outperform” rating on the stock in a report on Friday, May 29th. The Goldman Sachs Group started coverage on Elastic in a report on Tuesday, April 21st. They issued a “neutral” rating and a $50.00 price objective on the stock. Finally, Piper Sandler dropped their price objective on Elastic from $110.00 to $85.00 and set an “overweight” rating on the stock in a report on Friday, February 27th.

Elastic Price Performance

Shares of NYSE ESTC opened at $65.36 on Friday. The stock’s 50-day moving average is $51.46 and its two-hundred day moving average is $61.89. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.82 and a quick ratio of 1.82. Elastic has a 1-year low of $42.05 and a 1-year high of $96.07. The company has a market cap of $6.76 billion, a price-to-earnings ratio of 18.67, a price-to-earnings-growth ratio of 50.35 and a beta of 1.00.

Elastic (NYSE:ESTC) last issued its quarterly earnings results on Thursday, May 28th. The company reported $0.61 earnings per share for the quarter, topping the consensus estimate of $0.56 by $0.05. Elastic had a negative return on equity of 2.02% and a net margin of 21.14%.The company had revenue of $450.68 million for the quarter, compared to the consensus estimate of $446.66 million. During the same quarter in the prior year, the business earned $0.47 EPS. Elastic’s revenue was up 16.0% on a year-over-year basis. Elastic has set its FY 2027 guidance at 3.210-3.290 EPS and its Q1 2027 guidance at 0.570-0.590 EPS. Analysts forecast that Elastic will post 0.06 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Ashutosh Kulkarni sold 17,756 shares of the stock in a transaction dated Monday, March 9th. The stock was sold at an average price of $52.28, for a total value of $928,283.68. Following the transaction, the chief executive officer owned 409,145 shares in the company, valued at approximately $21,390,100.60. This represents a 4.16% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CRO Mark Eugene Dodds sold 3,723 shares of the stock in a transaction dated Monday, March 9th. The shares were sold at an average price of $52.28, for a total value of $194,638.44. Following the completion of the transaction, the executive owned 152,563 shares in the company, valued at approximately $7,975,993.64. The trade was a 2.38% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 38,188 shares of company stock worth $1,996,469. 12.70% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in ESTC. Focus Partners Wealth acquired a new stake in shares of Elastic in the 1st quarter valued at about $494,000. Northwestern Mutual Wealth Management Co. boosted its position in shares of Elastic by 17.3% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,159 shares of the company’s stock valued at $98,000 after purchasing an additional 171 shares during the period. Invesco Ltd. boosted its position in shares of Elastic by 11.7% in the 2nd quarter. Invesco Ltd. now owns 95,332 shares of the company’s stock valued at $8,039,000 after purchasing an additional 9,990 shares during the period. EverSource Wealth Advisors LLC boosted its position in shares of Elastic by 400.0% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,110 shares of the company’s stock valued at $178,000 after purchasing an additional 1,688 shares during the period. Finally, Cerity Partners LLC boosted its position in shares of Elastic by 24.7% in the 2nd quarter. Cerity Partners LLC now owns 30,545 shares of the company’s stock valued at $2,576,000 after purchasing an additional 6,056 shares during the period. Hedge funds and other institutional investors own 97.03% of the company’s stock.

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.