Scotiabank Has Positive Forecast for Elastic FY2025 Earnings

Elastic (NYSE:ESTC) – Investment analysts at Scotiabank increased their FY2025 earnings per share (EPS) estimates for shares of Elastic in a note issued to investors on Wednesday, January 8th. Scotiabank analyst P. Colville now expects that the company will earn ($0.75) per share for the year, up from their prior forecast of ($0.89). Scotiabank 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.

Other analysts also recently issued reports about the stock. Stifel Nicolaus boosted their price target on shares of Elastic from $98.00 to $132.00 and gave the stock a “buy” rating in a research report on Friday, November 22nd. Needham & Company LLC reiterated a “hold” rating on shares of Elastic in a research report on Friday, November 22nd. Rosenblatt Securities restated a “buy” rating and set a $120.00 price objective on shares of Elastic in a research report on Wednesday, November 20th. Guggenheim raised their price objective on shares of Elastic from $100.00 to $120.00 and gave the stock a “buy” rating in a research note on Friday, November 22nd. Finally, JPMorgan Chase & Co. raised their target price on Elastic from $100.00 to $130.00 and gave the stock an “overweight” rating in a research report on Friday, November 22nd. Six investment analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $126.50.

Elastic Trading Down 0.7 %

NYSE:ESTC opened at $97.94 on Friday. The stock has a market cap of $10.15 billion, a price-to-earnings ratio of 178.07 and a beta of 1.06. The business has a fifty day moving average of $99.86 and a 200-day moving average of $96.44. Elastic has a 1 year low of $69.00 and a 1 year high of $136.06. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.99 and a current ratio of 1.99.

Institutional Investors Weigh In On Elastic

Large investors have recently bought and sold shares of the business. Victory Capital Management Inc. boosted its stake in Elastic by 23.4% in the second quarter. Victory Capital Management Inc. now owns 20,330 shares of the company’s stock worth $2,316,000 after purchasing an additional 3,851 shares in the last quarter. Headlands Technologies LLC grew its holdings in Elastic by 75.4% during the 2nd quarter. Headlands Technologies LLC now owns 628 shares of the company’s stock worth $72,000 after acquiring an additional 270 shares during the last quarter. American Century Companies Inc. increased its position in Elastic by 10.0% in the 2nd quarter. American Century Companies Inc. now owns 30,410 shares of the company’s stock valued at $3,464,000 after acquiring an additional 2,777 shares in the last quarter. NINE MASTS CAPITAL Ltd bought a new position in shares of Elastic in the second quarter worth about $228,000. Finally, DekaBank Deutsche Girozentrale grew its stake in shares of Elastic by 7.6% during the second quarter. DekaBank Deutsche Girozentrale now owns 19,746 shares of the company’s stock valued at $2,261,000 after purchasing an additional 1,401 shares during the last quarter. 97.03% of the stock is currently owned by institutional investors.

Insider Activity

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