Elastic (NYSE:ESTC) Shares Gap Up – What’s Next?

Posted by Francis Steltz on May 28th, 2026

Elastic N.V. (NYSE:ESTC – Get Free Report) gapped up prior to trading on Thursday . The stock had previously closed at $53.90, but opened at $57.10. Elastic shares last traded at $58.0460, with a volume of 451,584 shares traded.

Wall Street Analysts Forecast Growth

ESTC has been the subject of several analyst reports. Barclays decreased their price objective on shares of Elastic from $78.00 to $76.00 and set an “overweight” rating for the company in a research note on Friday, February 27th. Morgan Stanley decreased their price objective on shares of Elastic from $80.00 to $73.00 and set an “overweight” rating for the company in a research note on Monday, March 2nd. The Goldman Sachs Group started coverage on shares of Elastic in a research note on Tuesday, April 21st. They set a “neutral” rating and a $50.00 price target for the company. Citigroup decreased their price target on shares of Elastic from $115.00 to $95.00 and set a “buy” rating for the company in a research note on Friday, February 20th. Finally, Truist Financial decreased their price target on shares of Elastic from $105.00 to $80.00 and set a “buy” rating for the company in a research note on Friday, February 27th. Eighteen analysts have rated the stock with a Buy rating, twelve have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Elastic currently has a consensus rating of “Moderate Buy” and an average target price of $86.96.

Check Out Our Latest Analysis on Elastic

Elastic Stock Up 8.3%

The company has a market cap of $6.04 billion, a P/E ratio of -72.97, a P/E/G ratio of 102.95 and a beta of 0.88. The company has a quick ratio of 1.82, a current ratio of 1.82 and a debt-to-equity ratio of 0.72. The business’s 50 day moving average is $50.16 and its 200 day moving average is $63.05.

Elastic (NYSE:ESTC – Get Free Report) last issued its quarterly earnings data on Thursday, February 26th. The company reported $0.73 EPS for the quarter, topping analysts’ consensus estimates of $0.64 by $0.09. The company had revenue of $449.88 million during the quarter, compared to the consensus estimate of $438.37 million. Elastic had a negative net margin of 5.04% and a negative return on equity of 2.34%. Elastic’s revenue for the quarter was up 17.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.63 earnings per share. As a group, equities analysts anticipate that Elastic N.V. will post 0.04 earnings per share for the current fiscal year.

Insider Buying and Selling at Elastic

In other news, insider Carolyn Herzog sold 3,989 shares of the company’s stock in a transaction on Monday, March 9th. The stock was sold at an average price of $52.28, for a total transaction of $208,544.92. Following the transaction, the insider directly owned 85,335 shares of the company’s stock, valued at approximately $4,461,313.80. This represents a 4.47% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CTO Shay Banon sold 4,283 shares of the company’s stock in a transaction on Monday, March 9th. The stock was sold at an average price of $52.28, for a total value of $223,915.24. Following the transaction, the chief technology officer directly owned 4,354,945 shares in the company, valued at approximately $227,676,524.60. The trade was a 0.10% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 38,188 shares of company stock valued at $1,996,469. Corporate insiders own 12.70% of the company’s stock.

Hedge Funds Weigh In On Elastic

A number of large investors have recently made changes to their positions in ESTC. Sound Income Strategies LLC acquired a new position in shares of Elastic during the fourth quarter worth $25,000. Bessemer Group Inc. purchased a new stake in Elastic in the first quarter valued at $25,000. Geneos Wealth Management Inc. purchased a new stake in Elastic in the second quarter valued at $31,000. Activest Wealth Management boosted its holdings in Elastic by 3,181.3% in the fourth quarter. Activest Wealth Management now owns 525 shares of the company’s stock valued at $40,000 after purchasing an additional 509 shares during the last quarter. Finally, Aster Capital Management DIFC Ltd boosted its stake in shares of Elastic by 206.1% during the 4th quarter. Aster Capital Management DIFC Ltd now owns 551 shares of the company’s stock worth $42,000 after acquiring an additional 371 shares in the last quarter. 97.03% of the stock is owned by institutional investors and hedge funds.

Elastic Company Profile

(Get Free Report)

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.