Scotiabank Has Optimistic Outlook of Elastic FY2026 Earnings

Elastic (NYSE:ESTC) – Equities researchers at Scotiabank boosted their FY2026 earnings per share estimates for Elastic in a research report issued on Monday, June 9th. Scotiabank analyst P. Colville now anticipates that the company will earn ($0.21) per share for the year, up from their previous forecast of ($0.87). Scotiabank has a “Sector Outperform” rating and a $95.00 price objective on the stock. The consensus estimate for Elastic’s current full-year earnings is ($0.77) per share.

ESTC has been the subject of several other research reports. JPMorgan Chase & Co. dropped their price objective on shares of Elastic from $120.00 to $110.00 and set an “overweight” rating for the company in a report on Friday, May 30th. Robert W. Baird dropped their price target on Elastic from $125.00 to $115.00 and set an “outperform” rating for the company in a report on Friday, May 30th. Wells Fargo & Company reduced their price objective on Elastic from $150.00 to $120.00 and set an “overweight” rating on the stock in a research note on Friday, May 30th. Guggenheim lowered their target price on Elastic from $136.00 to $107.00 and set a “buy” rating for the company in a research note on Friday, May 30th. Finally, DA Davidson cut their price target on Elastic from $115.00 to $75.00 and set a “neutral” rating for the company in a report on Monday, April 14th. Eight investment analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $113.63.

Elastic Price Performance

NYSE:ESTC opened at $83.29 on Thursday. The company has a quick ratio of 1.99, a current ratio of 1.99 and a debt-to-equity ratio of 0.70. The firm has a market cap of $8.70 billion, a PE ratio of 151.44 and a beta of 1.07. Elastic has a 12 month low of $69.00 and a 12 month high of $123.96. The company’s 50-day moving average price is $84.89 and its two-hundred day moving average price is $97.05.

Elastic (NYSE:ESTC) last posted its earnings results on Thursday, May 29th. The company reported $0.47 earnings per share for the quarter, topping the consensus estimate of $0.37 by $0.10. The business had revenue of $388.43 million for the quarter, compared to analyst estimates of $380.61 million. Elastic had a net margin of 4.39% and a negative return on equity of 13.20%. The firm’s quarterly revenue was up 15.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.21 EPS.

Insider Buying and Selling at Elastic

In other news, CRO Mark Eugene Dodds sold 5,514 shares of the business’s stock in a transaction dated Monday, June 9th. The stock was sold at an average price of $86.91, for a total transaction of $479,221.74. Following the completion of the transaction, the executive now directly owns 165,443 shares in the company, valued at approximately $14,378,651.13. The trade was a 3.23% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Ashutosh Kulkarni sold 5,000 shares of the business’s stock in a transaction dated Tuesday, March 25th. The stock was sold at an average price of $102.64, for a total value of $513,200.00. Following the transaction, the chief executive officer now owns 371,591 shares of the company’s stock, valued at $38,140,100.24. The trade was a 1.33% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 53,413 shares of company stock valued at $4,720,774. 15.90% of the stock is currently owned by insiders.

Institutional Trading of Elastic

A number of hedge funds have recently modified their holdings of the company. Acadian Asset Management LLC increased its stake in Elastic by 185.2% in the first quarter. Acadian Asset Management LLC now owns 20,279 shares of the company’s stock valued at $1,805,000 after purchasing an additional 13,169 shares in the last quarter. Focus Partners Wealth acquired a new position in shares of Elastic in the 1st quarter valued at $494,000. Bayforest Capital Ltd grew its holdings in shares of Elastic by 542.8% in the 1st quarter. Bayforest Capital Ltd now owns 10,902 shares of the company’s stock valued at $971,000 after buying an additional 9,206 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of Elastic by 3.0% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 429,526 shares of the company’s stock valued at $38,271,000 after buying an additional 12,510 shares in the last quarter. Finally, Prostatis Group LLC acquired a new stake in Elastic during the 1st quarter worth $325,000. 97.03% of the stock is currently owned by institutional investors and hedge funds.

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.