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

Shares of Elastic N.V. (NYSE:ESTC) have earned a consensus recommendation of “Moderate Buy” from the thirty research firms that are currently covering the company, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, ten have assigned a hold recommendation and eighteen have issued a buy recommendation on the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $79.0370.

ESTC has been the topic of several recent analyst reports. Piper Sandler reissued an “overweight” rating on shares of Elastic in a research report on Friday. TD Cowen dropped their price target on shares of Elastic from $65.00 to $60.00 and set a “hold” rating on the stock in a report on Tuesday, May 26th. Wolfe Research set a $55.00 price target on shares of Elastic in a report on Friday, May 29th. DA Davidson dropped their price target on shares of Elastic from $65.00 to $60.00 and set a “neutral” rating on the stock in a report on Friday, May 29th. Finally, Stifel Nicolaus set a $65.00 price target on shares of Elastic in a report on Friday, May 29th.

Insider Activity

In other news, insider Ken Exner sold 18,449 shares of the firm’s stock in a transaction dated Tuesday, June 9th. The shares were sold at an average price of $60.61, for a total transaction of $1,118,193.89. Following the sale, the insider owned 360,037 shares of the company’s stock, valued at $21,821,842.57. This trade represents a 4.87% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 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 firm’s stock in a transaction dated Tuesday, June 9th. The shares were sold at an average price of $60.61, for a total transaction of $574,885.85. Following the sale, the insider directly owned 128,439 shares in the company, valued at approximately $7,784,687.79. The trade was a 6.88% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last 90 days, insiders have sold 110,099 shares of company stock worth $6,673,100. 12.70% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Elastic

Several institutional investors have recently made changes to their positions in the business. AQR Capital Management LLC lifted its stake in shares of Elastic by 153.4% in the 4th quarter. AQR Capital Management LLC now owns 7,545,081 shares of the company’s stock worth $569,201,000 after purchasing an additional 4,567,720 shares during the period. Pictet Asset Management Holding SA lifted its stake in shares of Elastic by 43.2% in the 1st quarter. Pictet Asset Management Holding SA now owns 6,492,717 shares of the company’s stock worth $324,550,000 after purchasing an additional 1,958,219 shares during the period. FIL Ltd lifted its stake in shares of Elastic by 36.9% in the 4th quarter. FIL Ltd now owns 3,628,748 shares of the company’s stock worth $273,753,000 after purchasing an additional 977,578 shares during the period. First Trust Advisors LP lifted its stake in shares of Elastic by 516.1% in the 1st quarter. First Trust Advisors LP now owns 2,627,636 shares of the company’s stock worth $131,356,000 after purchasing an additional 2,201,140 shares during the period. Finally, Geode Capital Management LLC lifted its stake in shares of Elastic by 2.9% in the 4th quarter. Geode Capital Management LLC now owns 1,724,508 shares of the company’s stock worth $130,124,000 after purchasing an additional 49,198 shares during the period. Institutional investors own 97.03% of the company’s stock.

Elastic Trading Up 1.4%

Shares of NYSE ESTC opened at $57.01 on Tuesday. Elastic has a 1 year low of $42.05 and a 1 year high of $96.07. The stock has a market cap of $5.93 billion, a P/E ratio of 16.29, a price-to-earnings-growth ratio of 14.45 and a beta of 1.00. The firm has a 50-day moving average of $55.15 and a 200 day moving average of $59.95. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.68 and a quick ratio of 1.68.

Elastic (NYSE:ESTC) last announced its quarterly earnings data on Thursday, May 28th. The company reported $0.61 EPS for the quarter, beating the consensus estimate of $0.56 by $0.05. Elastic had a net margin of 21.14% and a negative return on equity of 1.82%. The company had revenue of $450.68 million for the quarter, compared to the consensus estimate of $446.66 million. During the same period in the prior year, the firm posted $0.47 EPS. Elastic’s revenue for the quarter 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. As a group, sell-side analysts expect that Elastic will post 0.23 EPS for the current fiscal year.

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.