Rosenblatt Securities Lowers Elastic (NYSE:ESTC) Price Target to $110.00

Elastic (NYSE:ESTC) had its price target cut by equities researchers at Rosenblatt Securities from $130.00 to $110.00 in a research note issued to investors on Friday,Benzinga reports. The firm currently has a “buy” rating on the stock. Rosenblatt Securities’ price target indicates a potential upside of 67.25% from the company’s current price.

A number of other equities research analysts have also recently weighed in on the stock. Robert W. Baird boosted their price target on shares of Elastic from $120.00 to $130.00 and gave the company an “outperform” rating in a research report on Friday, October 10th. JPMorgan Chase & Co. reduced their target price on Elastic from $120.00 to $113.00 and set an “overweight” rating for the company in a report on Friday, November 21st. Monness Crespi & Hardt cut Elastic from a “buy” rating to a “neutral” rating in a research report on Friday, November 21st. Scotiabank cut their price target on Elastic from $90.00 to $76.00 and set a “sector perform” rating on the stock in a research report on Friday, November 21st. Finally, Wells Fargo & Company reduced their price objective on Elastic from $90.00 to $75.00 and set an “equal weight” rating for the company in a research note on Friday, November 21st. Seventeen research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $104.88.

Elastic Trading Down 2.9%

ESTC opened at $65.77 on Friday. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.97 and a current ratio of 1.97. Elastic has a one year low of $65.39 and a one year high of $118.84. The company has a market cap of $6.93 billion, a P/E ratio of -63.85, a PEG ratio of 275.47 and a beta of 0.92. The business’s 50-day simple moving average is $74.04 and its 200-day simple moving average is $81.14.

Elastic (NYSE:ESTC) last posted its earnings results on Thursday, November 20th. The company reported $0.64 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.06. The firm 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 was up 15.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.59 earnings per share. Elastic has set its Q3 2026 guidance at 0.630-0.65 EPS. As a group, equities research analysts expect that Elastic will post -0.77 EPS for the current fiscal year.

Elastic announced that its board has approved a stock buyback program on Thursday, October 9th that authorizes the company to buyback $0.00 in shares. This buyback authorization authorizes the company to reacquire shares of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Insider Activity

In other news, CEO Ashutosh Kulkarni sold 5,000 shares of Elastic stock in a transaction dated Monday, December 15th. The shares were sold at an average price of $74.60, for a total value of $373,000.00. Following the sale, the chief executive officer owned 426,901 shares of the company’s stock, valued at $31,846,814.60. The trade was a 1.16% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Ken Exner sold 6,544 shares of the business’s stock in a transaction dated Tuesday, December 9th. The stock was sold at an average price of $75.05, for a total transaction of $491,127.20. Following the transaction, the insider owned 227,038 shares in the company, valued at approximately $17,039,201.90. This trade represents a 2.80% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 61,828 shares of company stock valued at $4,641,010. 12.70% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Elastic

A number of institutional investors have recently added to or reduced their stakes in ESTC. Sound Income Strategies LLC purchased a new position in shares of Elastic during the 4th quarter worth approximately $25,000. Geneos Wealth Management Inc. purchased a new position in Elastic in the second quarter worth $31,000. Huntington National Bank lifted its holdings in Elastic by 97.5% in the second quarter. Huntington National Bank now owns 468 shares of the company’s stock valued at $39,000 after acquiring an additional 231 shares during the period. Plato Investment Management Ltd acquired a new position in shares of Elastic during the 2nd quarter worth $40,000. Finally, Activest Wealth Management increased its holdings in shares of Elastic by 3,181.3% in the 4th quarter. Activest Wealth Management now owns 525 shares of the company’s stock valued at $40,000 after purchasing an additional 509 shares in the last quarter. Hedge funds and other institutional investors own 97.03% of the company’s stock.

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.