Cantor Fitzgerald Has Lowered Expectations for Elastic (NYSE:ESTC) Stock Price

Elastic (NYSE:ESTC) had its price objective decreased by investment analysts at Cantor Fitzgerald from $94.00 to $85.00 in a research note issued to investors on Friday,Benzinga reports. The firm currently has a “neutral” rating on the stock. Cantor Fitzgerald’s target price suggests a potential upside of 21.15% from the stock’s previous close.

Other equities research analysts have also issued reports about the company. Stifel Nicolaus decreased their target price on Elastic from $134.00 to $108.00 and set a “buy” rating for the company in a research report on Friday. Cowen restated a “hold” rating on shares of Elastic in a research report on Friday, August 29th. Bank of America decreased their price objective on shares of Elastic from $111.00 to $90.00 and set a “neutral” rating for the company in a report on Friday. Guggenheim dropped their target price on shares of Elastic from $122.00 to $116.00 and set a “buy” rating on the stock in a research note on Friday. Finally, Oppenheimer restated an “outperform” rating on shares of Elastic in a research note on Friday, August 29th. Sixteen equities research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $108.71.

Elastic Trading Down 14.5%

NYSE:ESTC opened at $70.16 on Friday. Elastic has a 52 week low of $68.78 and a 52 week high of $118.84. The firm has a 50-day moving average price of $86.47 and a two-hundred day moving average price of $85.48. 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 firm has a market cap of $7.46 billion, a price-to-earnings ratio of -68.12 and a beta of 1.04.

Elastic (NYSE:ESTC) last released its earnings results on Thursday, August 28th. The company reported ($0.08) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.42 by ($0.50). The business had revenue of $415.29 million during the quarter, compared to the consensus estimate of $397.13 million. Elastic had a negative net margin of 6.79% and a negative return on equity of 2.01%. The business’s revenue was up 19.5% on a year-over-year basis. During the same period in the prior year, the company earned $0.35 earnings per share. Elastic has set its FY 2026 guidance at 2.290-2.350 EPS. Q2 2026 guidance at 0.560-0.580 EPS. On average, equities analysts expect that Elastic will post -0.77 earnings per share for the current fiscal year.

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

Insider Buying and Selling at Elastic

In other Elastic news, insider Ken Exner sold 6,290 shares of the stock in a transaction on Tuesday, September 9th. The stock was sold at an average price of $90.12, for a total transaction of $566,854.80. Following the sale, the insider owned 233,582 shares in the company, valued at $21,050,409.84. This represents a 2.62% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Ashutosh Kulkarni sold 5,000 shares of Elastic stock in a transaction on Monday, September 15th. The shares were sold at an average price of $88.12, for a total value of $440,600.00. Following the completion of the transaction, the chief executive officer owned 452,314 shares of the company’s stock, valued at approximately $39,857,909.68. This trade represents a 1.09% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 352,042 shares of company stock worth $31,087,394. Company insiders own 12.70% of the company’s stock.

Institutional Investors Weigh In On Elastic

Hedge funds and other institutional investors have recently modified their holdings of the stock. Envestnet Asset Management Inc. lifted its holdings in shares of Elastic by 30.4% in the first quarter. Envestnet Asset Management Inc. now owns 31,743 shares of the company’s stock worth $2,828,000 after buying an additional 7,395 shares in the last quarter. Victory Capital Management Inc. increased its holdings in Elastic by 71.0% during the 1st quarter. Victory Capital Management Inc. now owns 18,189 shares of the company’s stock worth $1,621,000 after acquiring an additional 7,552 shares during the period. Kestra Private Wealth Services LLC bought a new stake in Elastic during the 1st quarter worth approximately $204,000. IFP Advisors Inc lifted its stake in Elastic by 22.8% in the 1st quarter. IFP Advisors Inc now owns 2,423 shares of the company’s stock worth $216,000 after purchasing an additional 450 shares in the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH boosted its holdings in Elastic by 154.0% in the 1st quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 91,193 shares of the company’s stock valued at $8,125,000 after purchasing an additional 55,287 shares during the period. 97.03% of the stock is currently owned by institutional investors.

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.