Elastic (NYSE:ESTC) Given New $95.00 Price Target at Royal Bank Of Canada

Elastic (NYSE:ESTC) had its target price decreased by Royal Bank Of Canada from $115.00 to $95.00 in a research note published on Monday morning,Benzinga reports. Royal Bank Of Canada currently has an outperform rating on the stock.

Several other brokerages have also recently weighed in on ESTC. Monness Crespi & Hardt cut shares of Elastic from a “buy” rating to a “neutral” rating in a research report on Friday, November 21st. Truist Financial reduced their target price on shares of Elastic from $140.00 to $120.00 and set a “buy” rating on the stock in a report on Wednesday, November 19th. Scotiabank dropped their price target on Elastic from $90.00 to $76.00 and set a “sector perform” rating for the company in a research report on Friday, November 21st. JPMorgan Chase & Co. reduced their price objective on Elastic from $120.00 to $113.00 and set an “overweight” rating on the stock in a research note on Friday, November 21st. Finally, Rosenblatt Securities reaffirmed a “buy” rating and issued a $130.00 price objective on shares of Elastic in a research note on Wednesday, November 19th. Seventeen equities research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $106.00.

Elastic Trading Up 2.4%

Shares of ESTC stock opened at $74.33 on Monday. The company has a current ratio of 1.97, a quick ratio of 1.97 and a debt-to-equity ratio of 0.64. The stock has a market capitalization of $7.83 billion, a price-to-earnings ratio of -72.17, a price-to-earnings-growth ratio of 287.78 and a beta of 0.92. Elastic has a 12-month low of $68.10 and a 12-month high of $118.84. The stock’s 50-day moving average price is $79.74 and its 200-day moving average price is $82.63.

Elastic (NYSE:ESTC) last released its quarterly earnings results on Thursday, November 20th. The company reported $0.64 earnings per share for the quarter, beating the consensus estimate of $0.58 by $0.06. The business had revenue of $423.48 million during the quarter, compared to analysts’ expectations of $418.27 million. Elastic had a negative return on equity of 2.02% and a negative net margin of 6.79%.The firm’s revenue for the quarter was up 15.9% compared to the same quarter last year. During the same quarter last year, the business posted $0.59 EPS. Elastic has set its Q3 2026 guidance at 0.630-0.65 EPS. Equities research analysts predict that Elastic will post -0.77 EPS for the current fiscal year.

Elastic declared that its board has approved a share repurchase plan on Thursday, October 9th that allows the company to buyback $0.00 in outstanding shares. This buyback authorization allows the company to reacquire shares of its stock through open market purchases. Shares buyback plans are typically an indication that the company’s board believes its stock is undervalued.

Insider Transactions at Elastic

In other Elastic news, CTO Shay Banon sold 4,552 shares of the company’s stock in a transaction on Tuesday, December 9th. The stock was sold at an average price of $75.05, for a total value of $341,627.60. Following the transaction, the chief technology officer owned 4,359,228 shares of the company’s stock, valued at $327,160,061.40. This represents a 0.10% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Navam Welihinda sold 1,046 shares of the stock in a transaction on Wednesday, December 10th. The stock was sold at an average price of $74.51, for a total value of $77,937.46. Following the completion of the sale, the chief financial officer owned 123,874 shares in the company, valued at approximately $9,229,851.74. The trade was a 0.84% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 61,891 shares of company stock valued at $4,654,707. Company insiders own 12.70% of the company’s stock.

Institutional Trading of Elastic

Large investors have recently made changes to their positions in the stock. Orion Porfolio Solutions LLC increased its stake in Elastic by 1.4% in the 3rd quarter. Orion Porfolio Solutions LLC now owns 8,593 shares of the company’s stock worth $726,000 after buying an additional 118 shares during the period. Northwestern Mutual Wealth Management Co. grew its stake in Elastic by 17.3% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,159 shares of the company’s stock worth $98,000 after acquiring an additional 171 shares in the last quarter. Public Employees Retirement System of Ohio increased its position in shares of Elastic by 0.6% during the third quarter. Public Employees Retirement System of Ohio now owns 28,323 shares of the company’s stock worth $2,393,000 after acquiring an additional 175 shares during the period. Janney Montgomery Scott LLC raised its stake in shares of Elastic by 5.1% during the second quarter. Janney Montgomery Scott LLC now owns 3,997 shares of the company’s stock valued at $337,000 after acquiring an additional 194 shares in the last quarter. Finally, Jones Financial Companies Lllp raised its stake in shares of Elastic by 6.9% during the third quarter. Jones Financial Companies Lllp now owns 3,020 shares of the company’s stock valued at $260,000 after acquiring an additional 194 shares in the last quarter. 97.03% of the stock is owned by hedge funds and other institutional investors.

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.