Elastic N.V. (NYSE:ESTC) Given Consensus Recommendation of “Moderate Buy” by Analysts

Elastic N.V. (NYSE:ESTC) has been given a consensus rating of “Moderate Buy” by the thirty research firms that are presently covering the company, Marketbeat.com reports. Thirteen investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating on the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $78.7778.

ESTC has been the topic of a number of research reports. Wall Street Zen downgraded shares of Elastic from a “buy” rating to a “hold” rating in a research report on Saturday, June 13th. Royal Bank Of Canada reduced 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. Wedbush decreased their price target on shares of Elastic from $74.00 to $65.00 and set an “outperform” rating for the company in a research note on Friday, May 29th. UBS Group reiterated a “buy” rating and set a $85.00 price objective on shares of Elastic in a report on Friday, May 29th. Finally, William Blair initiated coverage on shares of Elastic in a research report on Friday, May 22nd. They set an “outperform” rating on the stock.

Insiders Place Their Bets

In related news, CTO Shay Banon sold 9,288 shares of the company’s stock in a transaction that occurred on Tuesday, June 9th. The stock was sold at an average price of $60.61, for a total transaction of $562,945.68. Following the transaction, the chief technology officer directly owned 4,417,140 shares of the company’s stock, valued at approximately $267,722,855.40. This represents a 0.21% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Carolyn Herzog sold 9,485 shares of the stock in a transaction that occurred on Tuesday, June 9th. The stock was sold at an average price of $60.61, for a total value of $574,885.85. Following the completion of the transaction, the insider owned 128,439 shares in the company, valued at approximately $7,784,687.79. The trade was a 6.88% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 110,099 shares of company stock worth $6,673,100 over the last three months. Insiders own 12.70% of the company’s stock.

Hedge Funds Weigh In On Elastic

A number of large investors have recently modified their holdings of the company. Focus Partners Wealth bought a new stake in Elastic during the 1st quarter valued at $494,000. Northwestern Mutual Wealth Management Co. lifted its stake in shares of Elastic by 17.3% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,159 shares of the company’s stock valued at $98,000 after buying an additional 171 shares in the last quarter. Invesco Ltd. grew its holdings in shares of Elastic by 11.7% during the second quarter. Invesco Ltd. now owns 95,332 shares of the company’s stock valued at $8,039,000 after buying an additional 9,990 shares during the last quarter. EverSource Wealth Advisors LLC grew its holdings in shares of Elastic by 400.0% during the second quarter. EverSource Wealth Advisors LLC now owns 2,110 shares of the company’s stock valued at $178,000 after buying an additional 1,688 shares during the last quarter. Finally, Cerity Partners LLC increased its position in shares of Elastic by 24.7% during the second quarter. Cerity Partners LLC now owns 30,545 shares of the company’s stock worth $2,576,000 after acquiring an additional 6,056 shares in the last quarter. 97.03% of the stock is currently owned by institutional investors.

Elastic Price Performance

Shares of ESTC opened at $58.64 on Friday. Elastic has a 52-week low of $42.05 and a 52-week high of $96.07. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.68 and a current ratio of 1.68. The business’s 50 day moving average price is $59.40 and its two-hundred day moving average price is $57.90. The firm has a market cap of $6.10 billion, a PE ratio of 16.75, a price-to-earnings-growth ratio of 12.98 and a beta of 1.00.

Elastic (NYSE:ESTC) last posted its quarterly earnings results on Thursday, May 28th. The company reported $0.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.56 by $0.05. The firm had revenue of $450.68 million for the quarter, compared to analysts’ expectations of $446.66 million. Elastic had a negative return on equity of 1.82% and a net margin of 21.14%.The company’s revenue for the quarter was up 16.0% compared to the same quarter last year. During the same period in the prior year, the business earned $0.47 EPS. 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, equities analysts anticipate that Elastic will post 0.26 EPS for the current year.

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.