Elastic (NYSE:ESTC) Price Target Lowered to $70.00 at Royal Bank Of Canada

Elastic (NYSE:ESTC) had its target price trimmed by Royal Bank Of Canada from $80.00 to $70.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has an outperform rating on the stock.

Several other equities analysts have also commented on the stock. Guggenheim reaffirmed a “buy” rating and set a $116.00 price target on shares of Elastic in a research report on Wednesday, February 18th. Citigroup dropped their price target on shares of Elastic from $115.00 to $95.00 and set a “buy” rating for the company in a research report on Friday, February 20th. Wells Fargo & Company decreased their price objective on shares of Elastic from $75.00 to $60.00 and set an “equal weight” rating for the company in a research note on Friday, February 27th. Truist Financial decreased their price objective on shares of Elastic from $105.00 to $80.00 and set a “buy” rating for the company in a research note on Friday, February 27th. Finally, Piper Sandler decreased their price objective on shares of Elastic from $110.00 to $85.00 and set an “overweight” rating for the company in a research note on Friday, February 27th. Seventeen equities research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $94.21.

Elastic Stock Performance

Shares of ESTC stock opened at $47.69 on Thursday. Elastic has a one year low of $42.05 and a one year high of $96.07. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.82 and a current ratio of 1.82. The company has a 50 day moving average price of $53.53 and a 200 day moving average price of $69.94. The firm has a market capitalization of $4.94 billion, a price-to-earnings ratio of -59.61, a price-to-earnings-growth ratio of 61.04 and a beta of 1.03.

Elastic (NYSE:ESTC) last issued its quarterly earnings results on Thursday, February 26th. The company reported $0.73 EPS for the quarter, topping the consensus estimate of $0.64 by $0.09. Elastic had a negative net margin of 5.04% and a negative return on equity of 2.34%. The firm had revenue of $449.88 million during the quarter, compared to analyst estimates of $438.37 million. During the same quarter in the prior year, the business posted $0.63 earnings per share. Elastic’s revenue for the quarter was up 17.7% compared to the same quarter last year. Elastic has set its FY 2026 guidance at 2.500-2.540 EPS and its Q4 2026 guidance at 0.550-0.570 EPS. Sell-side analysts anticipate that Elastic will post -0.77 EPS for the current year.

Insiders Place Their Bets

In other news, CTO Shay Banon sold 4,283 shares of the company’s stock in a transaction on Monday, March 9th. The shares were sold at an average price of $52.28, for a total value of $223,915.24. Following the completion of the transaction, the chief technology officer directly owned 4,354,945 shares in the company, valued at approximately $227,676,524.60. This represents a 0.10% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Ken Exner sold 4,310 shares of the company’s stock in a transaction on Monday, March 9th. The shares were sold at an average price of $52.28, for a total transaction of $225,326.80. Following the completion of the transaction, the insider owned 222,728 shares of the company’s stock, valued at $11,644,219.84. This trade represents a 1.90% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 38,188 shares of company stock valued at $1,996,469. Corporate insiders own 12.70% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in shares of Elastic by 7.4% in the third quarter. Vanguard Group Inc. now owns 10,206,204 shares of the company’s stock valued at $862,322,000 after purchasing an additional 705,991 shares during the period. AQR Capital Management LLC boosted its stake in shares of Elastic by 153.4% in the fourth quarter. AQR Capital Management LLC now owns 7,545,081 shares of the company’s stock valued at $569,201,000 after purchasing an additional 4,567,720 shares during the period. Pictet Asset Management Holding SA boosted its stake in shares of Elastic by 3.2% in the fourth quarter. Pictet Asset Management Holding SA now owns 4,534,498 shares of the company’s stock valued at $342,127,000 after purchasing an additional 138,974 shares during the period. FIL Ltd boosted its stake in shares of Elastic by 36.9% in the fourth quarter. FIL Ltd now owns 3,628,748 shares of the company’s stock valued at $273,753,000 after purchasing an additional 977,578 shares during the period. Finally, Voya Investment Management LLC boosted its stake in shares of Elastic by 4.7% in the third quarter. Voya Investment Management LLC now owns 1,781,925 shares of the company’s stock valued at $150,555,000 after purchasing an additional 79,465 shares during the period. 97.03% of the stock is currently 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.