Rosenblatt Securities Cuts Elastic (NYSE:ESTC) Price Target to $110.00

Elastic (NYSE:ESTC) had its price objective cut by Rosenblatt Securities from $130.00 to $110.00 in a research note issued to investors on Friday,Benzinga reports. They currently have a buy rating on the stock.

Several other brokerages also recently weighed in on ESTC. Jefferies Financial Group lowered their price target on Elastic from $105.00 to $95.00 and set a “buy” rating for the company in a report on Monday, January 5th. Morgan Stanley decreased their price objective on shares of Elastic from $120.00 to $110.00 and set an “overweight” rating for the company in a research report on Friday, November 21st. Wells Fargo & Company dropped their target price on shares of Elastic from $90.00 to $75.00 and set an “equal weight” rating on the stock in a research report on Friday, November 21st. DA Davidson cut their price target on shares of Elastic from $100.00 to $80.00 and set a “neutral” rating on the stock in a research note on Friday, November 21st. Finally, Wall Street Zen raised shares of Elastic from a “hold” rating to a “buy” rating in a report on Saturday, October 11th. Seventeen analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $104.88.

Elastic Stock Down 2.9%

NYSE:ESTC opened at $65.77 on Friday. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.97 and a current ratio of 1.97. The stock has a market capitalization of $6.93 billion, a P/E ratio of -63.85, a P/E/G ratio of 268.19 and a beta of 0.93. The company’s 50-day simple moving average is $74.04 and its 200-day simple moving average is $81.11. Elastic has a fifty-two week low of $65.39 and a fifty-two week high of $118.84.

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 company had revenue of $423.48 million during the quarter, compared to analysts’ expectations of $418.27 million. Elastic had a negative net margin of 6.79% and a negative return on equity of 2.02%. Elastic’s revenue for the quarter was up 15.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.59 earnings per share. Elastic has set its Q3 2026 guidance at 0.630-0.65 EPS. On average, equities analysts anticipate that Elastic will post -0.77 earnings per share for the current fiscal year.

Elastic announced that its Board of Directors has approved a share repurchase program on Thursday, October 9th that authorizes the company to repurchase $0.00 in outstanding shares. This repurchase authorization authorizes the company to buy shares of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s leadership believes its shares are undervalued.

Insider Activity

In other news, insider Ken Exner sold 6,544 shares of the firm’s stock in a transaction that occurred on Tuesday, December 9th. The shares were sold at an average price of $75.05, for a total transaction of $491,127.20. Following the sale, the insider owned 227,038 shares of the company’s stock, valued at $17,039,201.90. This trade represents a 2.80% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CTO Shay Banon sold 4,552 shares of Elastic stock in a transaction that occurred on Tuesday, December 9th. The shares were sold at an average price of $75.05, for a total transaction of $341,627.60. Following the transaction, the chief technology officer directly owned 4,359,228 shares of the company’s stock, valued at approximately $327,160,061.40. This trade represents a 0.10% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 61,828 shares of company stock valued at $4,641,010 over the last 90 days. Company insiders own 12.70% of the company’s stock.

Institutional Trading of Elastic

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. AQR Capital Management LLC raised its position in shares of Elastic by 62.5% in the third quarter. AQR Capital Management LLC now owns 2,977,361 shares of the company’s stock worth $251,557,000 after acquiring an additional 1,145,146 shares during the period. Alyeska Investment Group L.P. raised its holdings in Elastic by 490.4% in the 3rd quarter. Alyeska Investment Group L.P. now owns 1,113,503 shares of the company’s stock worth $94,080,000 after purchasing an additional 924,911 shares during the period. Vanguard Group Inc. boosted its position in Elastic by 7.4% during the third quarter. Vanguard Group Inc. now owns 10,206,204 shares of the company’s stock worth $862,322,000 after purchasing an additional 705,991 shares in the last quarter. Qube Research & Technologies Ltd grew its holdings in Elastic by 302.1% in the second quarter. Qube Research & Technologies Ltd now owns 932,630 shares of the company’s stock valued at $78,649,000 after purchasing an additional 700,697 shares during the period. Finally, BNP Paribas Financial Markets grew its holdings in Elastic by 305.9% in the second quarter. BNP Paribas Financial Markets now owns 832,353 shares of the company’s stock valued at $70,192,000 after purchasing an additional 627,284 shares during the period. Institutional investors and hedge funds own 97.03% of the company’s stock.

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.