Elastic (NYSE:ESTC – Get Free Report) had its target price raised by equities research analysts at DA Davidson from $60.00 to $80.00 in a report issued on Wednesday,Benzinga reports. The firm presently has a “neutral” rating on the stock. DA Davidson’s target price indicates a potential upside of 0.01% from the company’s previous close.
Several other brokerages also recently weighed in on ESTC. Oppenheimer raised their price target on Elastic from $75.00 to $100.00 and gave the company an “outperform” rating in a report on Thursday, August 13th. Barclays upped their price target on shares of Elastic from $68.00 to $94.00 and gave the stock an “overweight” rating in a research note on Monday. Royal Bank Of Canada increased their price objective on shares of Elastic from $70.00 to $87.00 and gave the company an “outperform” rating in a research report on Friday, August 14th. TD Cowen raised their price objective on shares of Elastic from $55.00 to $70.00 and gave the company a “hold” rating in a research note on Tuesday. Finally, Zacks Research raised shares of Elastic from a “strong sell” rating to a “hold” rating in a report on Friday, June 26th. Seventeen investment analysts have rated the stock with a Buy rating and thirteen have given a Hold rating to the stock. Based on data from MarketBeat, Elastic currently has a consensus rating of “Moderate Buy” and a consensus price target of $87.41.
Check Out Our Latest Stock Analysis on Elastic
Elastic Stock Down 0.5%
Elastic (NYSE:ESTC – Get Free Report) last posted its quarterly earnings data on Thursday, May 28th. The company reported $0.61 earnings per share for the quarter, beating analysts’ consensus estimates of $0.56 by $0.05. The company had revenue of $450.68 million during the quarter, compared to analyst estimates of $446.66 million. Elastic had a negative return on equity of 1.82% and a net margin of 21.14%.The firm’s revenue for the quarter was up 16.0% on a year-over-year basis. During the same quarter last year, the company 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 predict that Elastic will post 0.24 earnings per share for the current fiscal year.
Insider Buying and Selling at Elastic
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, CFO Navam Welihinda sold 12,961 shares of Elastic 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 $785,566.21. Following the completion of the sale, the chief financial officer owned 209,254 shares of the company’s stock, valued at $12,682,884.94. This represents a 5.83% decrease in their ownership of the stock. 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. In the last ninety days, insiders have sold 110,099 shares of company stock worth $6,673,100. 12.70% of the stock is owned by company insiders.
Institutional Investors Weigh In On Elastic
A number of large investors have recently added to or reduced their stakes in the stock. Bessemer Group Inc. purchased a new stake in Elastic during the 1st quarter valued at $25,000. Basecamp Wealth Advisors LLC bought a new position in shares of Elastic during the 1st quarter valued at $28,000. Geneos Wealth Management Inc. purchased a new position in shares of Elastic in the 2nd quarter worth $31,000. Activest Wealth Management boosted its stake in shares of Elastic by 3,181.2% in the 4th quarter. Activest Wealth Management now owns 525 shares of the company’s stock worth $40,000 after buying an additional 509 shares during the last quarter. Finally, Harbor Investment Advisory LLC bought a new stake in shares of Elastic in the second quarter worth $42,000. Institutional investors own 97.03% of the company’s stock.
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.
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