Elastic (NYSE:ESTC) Shares Gap Up Following Analyst Upgrade

Elastic N.V. (NYSE:ESTC)’s stock price gapped up before the market opened on Friday after Wall Street Zen upgraded the stock from a hold rating to a buy rating. The stock had previously closed at $81.55, but opened at $91.07. Elastic shares last traded at $87.42, with a volume of 1,167,811 shares changing hands.

A number of other brokerages have also recently issued reports on ESTC. Piper Sandler increased their price objective on shares of Elastic from $120.00 to $125.00 and gave the company an “overweight” rating in a research note on Friday, August 29th. Guggenheim increased their price objective on shares of Elastic from $107.00 to $122.00 and gave the company a “buy” rating in a research note on Friday, August 29th. Monness Crespi & Hardt increased their price objective on shares of Elastic from $111.00 to $150.00 and gave the company a “buy” rating in a research note on Friday, August 29th. Weiss Ratings restated a “sell (d)” rating on shares of Elastic in a research note on Wednesday. Finally, Cantor Fitzgerald restated a “neutral” rating on shares of Elastic in a research note on Friday, August 29th. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $119.00.

Insider Buying and Selling at Elastic

In related news, insider Ken Exner sold 6,290 shares of the stock in a transaction dated Tuesday, September 9th. The shares were sold at an average price of $90.12, for a total transaction of $566,854.80. Following the completion of the sale, the insider owned 233,582 shares in the company, valued at $21,050,409.84. This trade represents a 2.62% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Ashutosh Kulkarni sold 5,000 shares of the stock in a transaction dated Monday, September 15th. The stock was sold at an average price of $88.12, for a total transaction of $440,600.00. Following the sale, the chief executive officer owned 452,314 shares of the company’s stock, valued at $39,857,909.68. This trade represents a 1.09% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 350,792 shares of company stock worth $30,978,369 over the last ninety days. Company insiders own 12.70% of the company’s stock.

Institutional Investors Weigh In On Elastic

A number of hedge funds have recently made changes to their positions in ESTC. Cloud Capital Management LLC acquired a new stake in shares of Elastic during the 1st quarter worth about $25,000. Signaturefd LLC increased its position in Elastic by 53.7% in the 1st quarter. Signaturefd LLC now owns 335 shares of the company’s stock valued at $30,000 after acquiring an additional 117 shares in the last quarter. Geneos Wealth Management Inc. acquired a new stake in Elastic in the 2nd quarter valued at about $31,000. North Capital Inc. acquired a new stake in Elastic in the 1st quarter valued at about $37,000. Finally, Huntington National Bank increased its position in Elastic by 97.5% in the 2nd quarter. Huntington National Bank now owns 468 shares of the company’s stock valued at $39,000 after acquiring an additional 231 shares in the last quarter. Institutional investors and hedge funds own 97.03% of the company’s stock.

Elastic Stock Up 6.1%

The company has a debt-to-equity ratio of 0.59, a quick ratio of 2.09 and a current ratio of 2.09. The stock has a market cap of $9.19 billion, a price-to-earnings ratio of -108.15 and a beta of 1.05. The firm’s 50-day simple moving average is $83.40 and its two-hundred day simple moving average is $84.58.

Elastic (NYSE:ESTC) last posted its quarterly earnings data on Thursday, August 28th. The company reported ($0.08) earnings per share for the quarter, missing the consensus estimate of $0.42 by ($0.50). The company had revenue of $415.29 million during the quarter, compared to analyst estimates of $397.13 million. Elastic had a negative net margin of 5.38% and a negative return on equity of 1.68%. The company’s revenue was up 19.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.35 EPS. Elastic has set its FY 2026 guidance at 2.290-2.350 EPS. Q2 2026 guidance at 0.560-0.580 EPS. On average, sell-side analysts expect that Elastic N.V. will post -0.77 EPS for the current fiscal year.

Elastic announced that its board has authorized a stock repurchase plan on Thursday, October 9th that authorizes the company to repurchase $0.00 in shares. This repurchase authorization authorizes the company to reacquire shares of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s management believes its stock is undervalued.

Elastic Company Profile

Elastic N.V., a data analytics company, delivers solutions designed to run in public or private clouds in multi-cloud environments. It primarily offers Elastic Stack, a set of software products that ingest and store data from various sources and formats, as well as performs search, analysis, and visualization on that data.