The Goldman Sachs Group Initiates Coverage on Elastic (NYSE:ESTC)

Analysts at The Goldman Sachs Group assumed coverage on shares of Elastic (NYSE:ESTC) in a research note issued to investors on Tuesday, Marketbeat.com reports. The brokerage set a “neutral” rating and a $50.00 price target on the stock. The Goldman Sachs Group’s target price points to a potential upside of 1.84% from the company’s current price.

ESTC has been the subject of a number of other research reports. Canaccord Genuity Group reduced their price objective on shares of Elastic from $115.00 to $90.00 and set a “buy” rating for the company in a research note on Friday, February 27th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Elastic in a research report on Wednesday, January 21st. Truist Financial reduced their price target on Elastic from $105.00 to $80.00 and set a “buy” rating on the stock in a research report on Friday, February 27th. DA Davidson reduced their price target on Elastic from $80.00 to $65.00 and set a “neutral” rating on the stock in a research report on Monday, March 2nd. Finally, Rosenblatt Securities reduced their price target on Elastic from $130.00 to $110.00 and set a “buy” rating on the stock in a research report on Friday, January 30th. Seventeen investment analysts have rated the stock with a Buy rating, twelve have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Elastic currently has an average rating of “Moderate Buy” and a consensus target price of $92.44.

Elastic Stock Performance

Shares of NYSE:ESTC opened at $49.10 on Tuesday. The company has a market capitalization of $5.08 billion, a price-to-earnings ratio of -61.37, a price-to-earnings-growth ratio of 62.17 and a beta of 1.03. Elastic has a 52 week low of $42.05 and a 52 week high of $96.07. The company has a quick ratio of 1.82, a current ratio of 1.82 and a debt-to-equity ratio of 0.72. The firm has a 50 day moving average of $52.49 and a 200 day moving average of $68.77.

Elastic (NYSE:ESTC) last issued its quarterly earnings data on Thursday, February 26th. The company reported $0.73 EPS for the quarter, topping analysts’ consensus estimates of $0.64 by $0.09. The company had revenue of $449.88 million during the quarter, compared to the consensus estimate of $438.37 million. Elastic had a negative net margin of 5.04% and a negative return on equity of 2.34%. Elastic’s revenue for the quarter was up 17.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.63 earnings per share. Elastic has set its FY 2026 guidance at 2.500-2.540 EPS and its Q4 2026 guidance at 0.550-0.570 EPS. On average, sell-side analysts predict that Elastic will post 0.04 earnings per share for the current fiscal year.

Insider Transactions at Elastic

In related news, insider Ken Exner sold 4,310 shares of the company’s stock in a transaction on Monday, March 9th. The stock was sold at an average price of $52.28, for a total value of $225,326.80. Following the transaction, the insider directly owned 222,728 shares of the company’s stock, valued at $11,644,219.84. This represents a 1.90% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Carolyn Herzog sold 3,989 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 $208,544.92. Following the completion of the transaction, the insider directly owned 85,335 shares in the company, valued at approximately $4,461,313.80. The trade was a 4.47% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 38,188 shares of company stock worth $1,996,469 over the last 90 days. Insiders own 12.70% of the company’s stock.

Hedge Funds Weigh In On Elastic

Several hedge funds have recently made changes to their positions in ESTC. Focus Partners Wealth acquired a new position in shares of Elastic in the 1st quarter valued at $494,000. Northwestern Mutual Wealth Management Co. grew its position in Elastic by 17.3% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,159 shares of the company’s stock worth $98,000 after purchasing an additional 171 shares during the period. Invesco Ltd. grew its position in Elastic by 11.7% during the 2nd quarter. Invesco Ltd. now owns 95,332 shares of the company’s stock worth $8,039,000 after purchasing an additional 9,990 shares during the period. EverSource Wealth Advisors LLC grew its position in Elastic by 400.0% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,110 shares of the company’s stock worth $178,000 after purchasing an additional 1,688 shares during the period. Finally, Cerity Partners LLC grew its position in Elastic by 24.7% during the 2nd quarter. Cerity Partners LLC now owns 30,545 shares of the company’s stock worth $2,576,000 after purchasing an additional 6,056 shares during the period. 97.03% of the stock is owned by institutional investors and hedge funds.

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.