Elastic N.V. (NYSE:ESTC – Get Free Report)’s share price fell 8.3% during trading on Thursday . The company traded as low as $54.10 and last traded at $53.8390. Approximately 232,199 shares traded hands during mid-day trading, a decline of 89% from the average daily volume of 2,075,375 shares. The stock had previously closed at $58.71.
Analyst Upgrades and Downgrades
Several research analysts have recently commented on ESTC shares. Morgan Stanley cut their price objective on Elastic from $80.00 to $73.00 and set an “overweight” rating for the company in a report on Monday, March 2nd. JPMorgan Chase & Co. reduced their target price on Elastic from $99.00 to $80.00 and set an “overweight” rating on the stock in a research note on Wednesday, May 27th. Royal Bank Of Canada dropped their price target on Elastic from $80.00 to $70.00 and set an “outperform” rating for the company in a research note on Thursday, April 16th. Wall Street Zen cut Elastic from a “buy” rating to a “hold” rating in a report on Saturday, June 13th. Finally, Truist Financial cut their target price on Elastic from $105.00 to $80.00 and set a “buy” rating for the company in a research note on Friday, February 27th. Eighteen research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $79.04.
View Our Latest Research Report on ESTC
Elastic Stock Performance
Elastic (NYSE:ESTC – Get Free Report) last posted its quarterly earnings results on Thursday, May 28th. The company reported $0.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.56 by $0.05. Elastic had a negative return on equity of 1.82% and a net margin of 21.14%.The business had revenue of $450.68 million for the quarter, compared to analyst estimates of $446.66 million. During the same period last year, the company earned $0.47 EPS. Elastic’s revenue for the quarter was up 16.0% compared to the same quarter last year. 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, sell-side analysts anticipate that Elastic N.V. will post 0.23 earnings per share for the current year.
Insider Buying and Selling at Elastic
In related news, CAO Jane E. Bone sold 1,104 shares of the business’s stock in a transaction dated Tuesday, June 9th. The stock was sold at an average price of $60.61, for a total transaction of $66,913.44. Following the transaction, the chief accounting officer owned 53,415 shares in the company, valued at $3,237,483.15. The trade was a 2.02% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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 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 sale, the insider owned 128,439 shares of the company’s stock, valued at approximately $7,784,687.79. This trade represents 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. Insiders have sold a total of 110,099 shares of company stock worth $6,673,100 over the last ninety days. 12.70% of the stock is owned by company insiders.
Institutional Inflows and Outflows
Several institutional investors have recently added to or reduced their stakes in the stock. J. Safra Sarasin Holding AG grew its holdings in shares of Elastic by 43.0% during the 4th quarter. J. Safra Sarasin Holding AG now owns 189,138 shares of the company’s stock worth $14,269,000 after acquiring an additional 56,892 shares during the period. Cinctive Capital Management LP bought a new position in Elastic in the 3rd quarter worth about $13,608,000. Connor Clark & Lunn Investment Management Ltd. raised its holdings in Elastic by 50.8% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 891,279 shares of the company’s stock worth $75,304,000 after buying an additional 300,264 shares during the last quarter. Thematics Asset Management boosted its stake in Elastic by 10.2% during the 3rd quarter. Thematics Asset Management now owns 523,283 shares of the company’s stock valued at $44,212,000 after purchasing an additional 48,346 shares during the last quarter. Finally, Citigroup Inc. lifted its position in Elastic by 89.0% during the third quarter. Citigroup Inc. now owns 89,357 shares of the company’s stock valued at $7,550,000 after purchasing an additional 42,087 shares during the period. 97.03% of the stock is currently owned by institutional investors.
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.
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