Elastic (NYSE:ESTC – Get Free Report) was downgraded by equities researchers at Zacks Research from a “strong-buy” rating to a “hold” rating in a research note issued to investors on Monday, Zacks reports.
Other analysts have also recently issued research reports about the company. Stifel Nicolaus boosted their target price on Elastic from $107.00 to $120.00 and gave the stock a “buy” rating in a report on Friday, October 9th. Wedbush restated an “outperform” rating and issued a $125.00 price target on shares of Elastic in a report on Friday, October 9th. Morgan Stanley lifted their price target on shares of Elastic from $66.00 to $75.00 and gave the company an “equal weight” rating in a research report on Friday, August 28th. Oppenheimer lifted their price target on shares of Elastic from $100.00 to $118.00 and gave the company an “outperform” rating in a research report on Friday, August 28th. Finally, Citigroup boosted their price objective on shares of Elastic from $104.00 to $128.00 and gave the stock a “buy” rating in a research note on Friday, August 28th. Seventeen analysts have rated the stock with a Buy rating and thirteen have assigned a Hold rating to the company. Based on data from MarketBeat.com, Elastic currently has a consensus rating of “Moderate Buy” and an average price target of $98.56.
View Our Latest Analysis on ESTC
Elastic Stock Performance
NYSE:ESTC opened at $87.40 on Monday. The company has a market cap of $9.18 billion, a P/E ratio of 24.48, a P/E/G ratio of 7.58 and a beta of 0.97. The firm’s 50 day moving average is $92.45 and its two-hundred day moving average is $68.05. Elastic has a fifty-two week low of $42.05 and a fifty-two week high of $108.00. The company has a quick ratio of 1.81, a current ratio of 1.81 and a debt-to-equity ratio of 0.44.
Elastic (NYSE:ESTC – Get Free Report) last released its quarterly earnings data on Thursday, August 27th. The company reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.58 by $0.12. The business had revenue of $478.11 million during the quarter, compared to the consensus estimate of $469.75 million. Elastic had a negative return on equity of 0.35% and a net margin of 20.84%. The business’s revenue for the quarter was up 15.2% on a year-over-year basis. During the same period in the prior year, the firm posted $0.60 EPS. Elastic has set its FY 2027 guidance at 3.290-3.370 EPS and its Q2 2027 guidance at 0.800-0.820 EPS. Analysts expect that Elastic will post 0.65 EPS for the current year.
Insider Buying and Selling
In other Elastic news, CEO Ashutosh Kulkarni sold 29,227 shares of the company’s stock in a transaction that occurred on Wednesday, September 9th. The stock was sold at an average price of $87.78, for a total value of $2,565,546.06. Following the completion of the transaction, the chief executive officer owned 599,525 shares in the company, valued at $52,626,304.50. This represents a 4.65% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CTO Shay Banon sold 200,000 shares of the stock in a transaction that occurred on Monday, August 31st. The shares were sold at an average price of $96.47, for a total transaction of $19,294,000.00. Following the completion of the sale, the chief technology officer directly owned 1,854,978 shares of the company’s stock, valued at $178,949,727.66. This trade represents a 9.73% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 4,585,641 shares of company stock valued at $422,851,366. Corporate insiders own 12.70% of the company’s stock.
Institutional Investors Weigh In On Elastic
A number of large investors have recently added to or reduced their stakes in ESTC. Private Wealth Asset Management LLC purchased a new position in Elastic in the 3rd quarter valued at about $353,000. Ieq Capital LLC increased its position in shares of Elastic by 198.1% during the third quarter. Ieq Capital LLC now owns 119,865 shares of the company’s stock worth $10,992,000 after acquiring an additional 79,659 shares during the last quarter. Focus Advisor Solutions LLC increased its position in shares of Elastic by 395.1% during the third quarter. Focus Advisor Solutions LLC now owns 21,095 shares of the company’s stock worth $1,934,000 after acquiring an additional 16,834 shares during the last quarter. Voya Investment Management LLC lifted its stake in shares of Elastic by 23.2% in the third quarter. Voya Investment Management LLC now owns 735,330 shares of the company’s stock worth $67,430,000 after acquiring an additional 138,249 shares in the last quarter. Finally, Global Retirement Partners LLC lifted its stake in shares of Elastic by 317.0% in the third quarter. Global Retirement Partners LLC now owns 4,633 shares of the company’s stock worth $425,000 after acquiring an additional 3,522 shares in the last quarter. 97.03% of the stock is owned by institutional investors and hedge funds.
Elastic Company Profile
Elastic N.V. develops software for search, observability and security. Its products help organizations search and analyze data, monitor applications and infrastructure, and detect and respond to cybersecurity threats. The company’s offerings include the Elastic Stack—built around Elasticsearch and including Kibana, Logstash and Beats—as well as cloud-based services through Elastic Cloud. These tools can be used to work with data from a range of sources and support applications such as enterprise search, log analytics and security monitoring.
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