Scotiabank Has Positive Outlook of Elastic FY2025 Earnings

Elastic (NYSE:ESTC) – Investment analysts at Scotiabank lifted their FY2025 earnings estimates for shares of Elastic in a research note issued to investors on Wednesday, January 8th. Scotiabank analyst P. Colville now anticipates that the company will earn ($0.75) per share for the year, up from their prior forecast of ($0.89). Scotiabank currently has a “Sector Outperform” rating and a $135.00 price target on the stock. The consensus estimate for Elastic’s current full-year earnings is ($0.79) per share.

Several other analysts also recently issued reports on the company. Stifel Nicolaus lifted their price target on Elastic from $98.00 to $132.00 and gave the company a “buy” rating in a research note on Friday, November 22nd. Rosenblatt Securities reaffirmed a “buy” rating and issued a $120.00 target price on shares of Elastic in a research report on Wednesday, November 20th. Robert W. Baird upgraded Elastic from a “neutral” rating to an “outperform” rating and lifted their target price for the stock from $95.00 to $135.00 in a research note on Friday, November 22nd. Oppenheimer raised their price target on Elastic from $125.00 to $140.00 and gave the company an “outperform” rating in a report on Friday, November 22nd. Finally, Baird R W upgraded shares of Elastic from a “hold” rating to a “strong-buy” rating in a report on Friday, November 22nd. Six research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Elastic has a consensus rating of “Moderate Buy” and an average price target of $126.50.

Elastic Price Performance

Shares of ESTC opened at $97.94 on Friday. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.99 and a current ratio of 1.99. The firm has a market capitalization of $10.15 billion, a PE ratio of 178.07 and a beta of 1.06. The stock has a 50 day simple moving average of $99.86 and a 200 day simple moving average of $96.44. Elastic has a 52-week low of $69.00 and a 52-week high of $136.06.

Hedge Funds Weigh In On Elastic

Several institutional investors have recently added to or reduced their stakes in the business. Quarry LP bought a new position in shares of Elastic in the 2nd quarter worth $40,000. Headlands Technologies LLC grew its stake in Elastic by 75.4% in the 2nd quarter. Headlands Technologies LLC now owns 628 shares of the company’s stock valued at $72,000 after purchasing an additional 270 shares during the period. Eastern Bank bought a new stake in shares of Elastic in the 3rd quarter worth approximately $61,000. NINE MASTS CAPITAL Ltd purchased a new stake in Elastic in the second quarter worth $228,000. Finally, Blue Trust Inc. lifted its holdings in Elastic by 21.2% during the third quarter. Blue Trust Inc. now owns 2,582 shares of the company’s stock valued at $198,000 after purchasing an additional 452 shares during the last quarter. 97.03% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Elastic

In related news, CTO Shay Banon sold 150,000 shares of the firm’s stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $110.92, for a total transaction of $16,638,000.00. Following the completion of the transaction, the chief technology officer now directly owns 2,604,978 shares of the company’s stock, valued at $288,944,159.76. This trade represents a 5.44 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Carolyn Herzog sold 11,145 shares of Elastic stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $111.34, for a total value of $1,240,884.30. Following the completion of the transaction, the insider now directly owns 92,011 shares in the company, valued at approximately $10,244,504.74. This represents a 10.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 168,162 shares of company stock worth $18,637,562 over the last quarter. Corporate insiders own 15.90% of the company’s stock.

Elastic Company Profile

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.