Elastic (NYSE:ESTC – Get Free Report) had its target price boosted by investment analysts at Canaccord Genuity Group from $80.00 to $120.00 in a report issued on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Canaccord Genuity Group’s target price points to a potential upside of 16.67% from the company’s current price.
Other equities analysts have also recently issued research reports about the company. Truist Financial lifted their target price on Elastic from $80.00 to $100.00 and gave the company a “buy” rating in a research note on Thursday, August 20th. Piper Sandler reaffirmed an “overweight” rating on shares of Elastic in a research report on Friday. Jefferies Financial Group upped their price objective on shares of Elastic from $75.00 to $100.00 and gave the company a “buy” rating in a research note on Sunday, August 16th. Morgan Stanley downgraded shares of Elastic from an “overweight” rating to an “equal weight” rating and cut their target price for the stock from $73.00 to $66.00 in a research report on Tuesday, July 21st. Finally, DA Davidson lifted their target price on shares of Elastic from $60.00 to $80.00 and gave the company a “neutral” rating in a research note on Wednesday. Seventeen research analysts have rated the stock with a Buy rating and thirteen have assigned a Hold rating to the stock. According to MarketBeat.com, Elastic presently has a consensus rating of “Moderate Buy” and a consensus price target of $91.07.
View Our Latest Stock Report on ESTC
Elastic Stock Up 22.8%
Elastic (NYSE:ESTC – Get Free Report) last issued its quarterly earnings results on Thursday, August 27th. The company reported $0.70 earnings per share for the quarter, beating analysts’ consensus estimates of $0.58 by $0.12. The business had revenue of $478.11 million for the quarter, compared to the consensus estimate of $469.75 million. Elastic had a negative return on equity of 1.82% and a net margin of 21.14%.Elastic’s revenue for the quarter was up 15.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.60 earnings per share. Elastic has set its FY 2027 guidance at 3.290-3.370 EPS and its Q2 2027 guidance at 0.800-0.820 EPS. As a group, analysts forecast that Elastic will post 0.24 earnings per share for the current fiscal year.
Insiders Place Their Bets
In other Elastic news, CRO Mark Eugene Dodds sold 18,439 shares of Elastic stock in a transaction that occurred on Tuesday, June 9th. The shares were sold at an average price of $60.61, for a total value of $1,117,587.79. Following the completion of the sale, the executive directly owned 298,211 shares in the company, valued at $18,074,568.71. The trade was a 5.82% decrease in their ownership of the stock. 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, insider Carolyn Herzog sold 9,485 shares of the business’s 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 $574,885.85. Following the completion of the sale, the insider directly owned 128,439 shares of the company’s stock, valued at $7,784,687.79. This represents a 6.88% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 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 in the last quarter. Corporate insiders own 12.70% of the company’s stock.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently modified their holdings of the business. Orion Porfolio Solutions LLC boosted its holdings in Elastic by 1.4% in the third quarter. Orion Porfolio Solutions LLC now owns 8,593 shares of the company’s stock worth $726,000 after purchasing an additional 118 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its holdings in 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 buying an additional 171 shares in the last quarter. Public Employees Retirement System of Ohio raised its holdings in Elastic by 0.6% during 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 buying an additional 175 shares in the last quarter. California State Teachers Retirement System lifted its position in shares of Elastic by 0.3% in the second quarter. California State Teachers Retirement System now owns 83,403 shares of the company’s stock worth $7,033,000 after buying an additional 219 shares during the last quarter. Finally, 180 Wealth Advisors LLC lifted its position in shares of Elastic by 4.6% in the second quarter. 180 Wealth Advisors LLC now owns 6,027 shares of the company’s stock worth $344,000 after buying an additional 263 shares during the last quarter. Institutional investors own 97.03% of the company’s stock.
Key Stories Impacting Elastic
Here are the key news stories impacting Elastic this week:
- Positive Sentiment: Quarterly beat: Elastic reported adjusted EPS of $0.70, exceeding the $0.58 consensus estimate, while revenue rose 15.2% year over year to $478.1 million, ahead of the approximately $469.8 million analyst forecast. Elastic quarterly earnings report
- Positive Sentiment: Raised outlook: Fiscal 2027 EPS guidance of $3.29-$3.37 is substantially above the $2.64 consensus estimate. Second-quarter EPS guidance of $0.80-$0.82 also exceeds expectations of $0.66, while projected revenue of $486-$487 million is above the $483.2 million consensus. The guidance upgrade is a major reason investors are reassessing the company’s growth and profitability outlook. Elastic fiscal 2027 results
- Positive Sentiment: Analyst support: Robert W. Baird raised its price target from $95 to $120 and assigned an “outperform” rating, implying meaningful upside from the current trading level. Rosenblatt Securities also reaffirmed its “buy” rating. Benzinga analyst update
- Neutral Sentiment: DA Davidson increased its price target from $60 to $80 but maintained a “neutral” rating. This reflects improving expectations while signaling that valuation and execution risks remain after the sharp rally. DA Davidson raises Elastic price target
- Negative Sentiment: Quiver Quantitative data shows 14 insider sales and no insider purchases over the past six months. Although these transactions may reflect scheduled or compensation-related selling, the absence of insider buying could temper enthusiasm. The stock also trades near the upper portion of its 52-week range, increasing sensitivity to any future guidance or execution disappointment.
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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