Weekly Research Analysts’ Ratings Changes for Elastic (ESTC)

Several brokerages have updated their recommendations and price targets on shares of Elastic (NYSE: ESTC) in the last few weeks:

• 3/3/2025 – Elastic had its price target raised by analysts at Truist Financial Co. from $135.00 to $145.00. They now have a “buy” rating on the stock.
• 2/28/2025 – Elastic had its “outperform” rating reaffirmed by analysts at Scotiabank.
• 2/28/2025 – Elastic had its price target raised by analysts at Scotiabank from $127.00 to $140.00. They now have a “sector outperform” rating on the stock.
• 2/28/2025 – Elastic had its price target raised by analysts at Morgan Stanley from $130.00 to $140.00. They now have an “overweight” rating on the stock.
• 2/28/2025 – Elastic had its price target raised by analysts at Wells Fargo & Company from $135.00 to $150.00. They now have an “overweight” rating on the stock.
• 2/28/2025 – Elastic had its price target raised by analysts at Piper Sandler from $130.00 to $135.00. They now have an “overweight” rating on the stock.
• 2/28/2025 – Elastic had its price target raised by analysts at Robert W. Baird from $135.00 to $140.00. They now have an “outperform” rating on the stock.
• 2/28/2025 – Elastic had its price target raised by analysts at UBS Group AG from $140.00 to $148.00. They now have a “buy” rating on the stock.
• 2/28/2025 – Elastic had its price target raised by analysts at Guggenheim from $130.00 to $136.00. They now have a “buy” rating on the stock.
• 2/28/2025 – Elastic had its price target raised by analysts at Canaccord Genuity Group Inc. from $130.00 to $135.00. They now have a “buy” rating on the stock.
• 2/25/2025 – Elastic had its “buy” rating reaffirmed by analysts at Rosenblatt Securities. They now have a $130.00 price target on the stock.
• 1/21/2025 – Elastic had its price target lowered by analysts at Scotiabank from $135.00 to $127.00. They now have a “sector outperform” rating on the stock.

Elastic Stock Up 1.7 %

Shares of ESTC traded up $1.59 during midday trading on Friday, reaching $96.40. 314,000 shares of the stock were exchanged, compared to its average volume of 1,435,867. The company has a current ratio of 1.99, a quick ratio of 1.99 and a debt-to-equity ratio of 0.70. The company has a market capitalization of $10.06 billion, a P/E ratio of 175.26 and a beta of 1.20. The company’s 50 day moving average is $105.34 and its two-hundred day moving average is $94.92. Elastic has a 52 week low of $69.00 and a 52 week high of $123.96.

Elastic (NYSE:ESTC) last released its quarterly earnings data on Thursday, February 27th. The company reported ($0.01) earnings per share for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.48). The company had revenue of $382.08 million for the quarter, compared to analysts’ expectations of $368.85 million. Elastic had a net margin of 4.39% and a negative return on equity of 13.20%. On average, sell-side analysts anticipate that Elastic will post -0.77 earnings per share for the current year.

Insider Activity

In other Elastic news, CEO Ashutosh Kulkarni sold 18,735 shares of Elastic stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $90.77, for a total transaction of $1,700,575.95. Following the sale, the chief executive officer now directly owns 376,591 shares in the company, valued at $34,183,165.07. The trade was a 4.74 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CTO Shay Banon sold 2,683 shares of the firm’s stock in a transaction on Monday, March 10th. The stock was sold at an average price of $90.78, for a total transaction of $243,562.74. Following the transaction, the chief technology officer now directly owns 4,535,456 shares of the company’s stock, valued at approximately $411,728,695.68. This represents a 0.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 193,304 shares of company stock worth $20,334,252. 15.90% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Elastic

Several institutional investors and hedge funds have recently made changes to their positions in the company. Sylebra Capital LLC lifted its stake in Elastic by 62.6% in the fourth quarter. Sylebra Capital LLC now owns 4,561,462 shares of the company’s stock valued at $451,950,000 after buying an additional 1,756,842 shares during the last quarter. FMR LLC raised its position in Elastic by 25.6% during the third quarter. FMR LLC now owns 5,475,297 shares of the company’s stock valued at $420,284,000 after buying an additional 1,115,750 shares during the period. Norges Bank purchased a new position in Elastic during the fourth quarter valued at approximately $102,485,000. Arrowstreet Capital Limited Partnership grew its holdings in shares of Elastic by 5,972.4% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 744,358 shares of the company’s stock valued at $73,751,000 after acquiring an additional 732,100 shares in the last quarter. Finally, Atreides Management LP raised its stake in shares of Elastic by 57.2% during the 3rd quarter. Atreides Management LP now owns 1,687,791 shares of the company’s stock worth $129,555,000 after purchasing an additional 614,309 shares in the last quarter. 97.03% of the stock is owned by institutional investors and hedge funds.

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.