Elastic (NYSE:ESTC) Given New $107.00 Price Target at Barclays

Elastic (NYSE:ESTC) had its price objective cut by Barclays from $125.00 to $107.00 in a report published on Friday,Benzinga reports. They currently have an overweight rating on the stock.

Several other analysts have also recently commented on ESTC. Cowen restated a “hold” rating on shares of Elastic in a report on Friday, August 29th. Rosenblatt Securities reaffirmed a “buy” rating and set a $130.00 target price on shares of Elastic in a research report on Wednesday. DA Davidson assumed coverage on shares of Elastic in a research note on Friday, August 29th. They issued a “neutral” rating and a $105.00 target price on the stock. JPMorgan Chase & Co. dropped their price objective on Elastic from $120.00 to $113.00 and set an “overweight” rating on the stock in a research note on Friday. Finally, Cantor Fitzgerald lowered their price objective on shares of Elastic from $94.00 to $85.00 and set a “neutral” rating on the stock in a research note on Friday. Sixteen research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Elastic presently has a consensus rating of “Moderate Buy” and an average price target of $108.71.

Elastic Trading Down 14.5%

NYSE ESTC traded down $11.92 on Friday, hitting $70.16. 8,915,733 shares of the stock were exchanged, compared to its average volume of 1,585,240. The company’s 50-day moving average price is $86.47 and its two-hundred day moving average price is $85.47. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.09 and a quick ratio of 2.09. Elastic has a 52-week low of $68.78 and a 52-week high of $118.84. The company has a market capitalization of $7.46 billion, a price-to-earnings ratio of -68.12 and a beta of 1.04.

Elastic (NYSE:ESTC) last released its earnings results on Thursday, August 28th. The company reported ($0.08) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.42 by ($0.50). Elastic had a negative net margin of 6.79% and a negative return on equity of 2.01%. The business had revenue of $415.29 million during the quarter, compared to analysts’ expectations of $397.13 million. During the same quarter in the previous year, the company earned $0.35 EPS. Elastic’s revenue for the quarter was up 19.5% on a year-over-year basis. Elastic has set its FY 2026 guidance at 2.290-2.350 EPS. Q2 2026 guidance at 0.560-0.580 EPS. Research analysts predict that Elastic will post -0.77 EPS for the current year.

Elastic announced that its board has authorized a share repurchase plan on Thursday, October 9th that authorizes the company to buyback $0.00 in outstanding shares. This buyback authorization authorizes the company to purchase shares of its stock through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its shares are undervalued.

Insiders Place Their Bets

In related news, CEO Ashutosh Kulkarni sold 19,622 shares of Elastic stock in a transaction dated Tuesday, September 9th. The shares were sold at an average price of $90.12, for a total transaction of $1,768,334.64. Following the completion of the transaction, the chief executive officer directly owned 457,314 shares of the company’s stock, valued at $41,213,137.68. This trade represents a 4.11% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CTO Shay Banon sold 104,326 shares of Elastic stock in a transaction that occurred on Tuesday, September 9th. The shares were sold at an average price of $90.34, for a total transaction of $9,424,810.84. Following the completion of the transaction, the chief technology officer owned 4,363,780 shares of the company’s stock, valued at $394,223,885.20. This trade represents a 2.33% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 352,042 shares of company stock worth $31,087,394 in the last 90 days. 12.70% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Orion Porfolio Solutions LLC grew its holdings in Elastic by 1.4% during the 3rd quarter. Orion Porfolio Solutions LLC now owns 8,593 shares of the company’s stock worth $726,000 after acquiring an additional 118 shares during the last quarter. Y.D. More Investments Ltd raised its stake in shares of Elastic by 0.5% in the first quarter. Y.D. More Investments Ltd now owns 29,742 shares of the company’s stock worth $2,756,000 after acquiring an additional 145 shares during the last quarter. Smartleaf Asset Management LLC lifted its position in shares of Elastic by 53.7% during the first quarter. Smartleaf Asset Management LLC now owns 435 shares of the company’s stock worth $40,000 after purchasing an additional 152 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its stake in shares of Elastic by 17.3% during the second 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 last quarter. Finally, Public Employees Retirement System of Ohio increased its holdings in shares of Elastic by 0.6% in the third quarter. Public Employees Retirement System of Ohio now owns 28,323 shares of the company’s stock valued at $2,393,000 after purchasing an additional 175 shares in the last quarter. 97.03% of the stock is owned by institutional investors.

About Elastic

Elastic N.V., a data analytics company, delivers solutions designed to run in public or private clouds in multi-cloud environments. It primarily offers Elastic Stack, a set of software products that ingest and store data from various sources and formats, as well as performs search, analysis, and visualization on that data.