Scotiabank Has Bullish Forecast for Elastic FY2025 Earnings

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

A number of other research firms have also commented on ESTC. Morgan Stanley initiated coverage on shares of Elastic in a report on Tuesday, December 17th. They set an “overweight” rating and a $130.00 target price for the company. Piper Sandler boosted 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. Rosenblatt Securities reiterated a “buy” rating and issued a $120.00 price target on shares of Elastic in a research report on Wednesday, November 20th. William Blair raised shares of Elastic from a “market perform” rating to an “outperform” rating in a research note on Monday, October 14th. Finally, Stifel Nicolaus upped their target price on shares of Elastic from $98.00 to $132.00 and gave the company a “buy” rating in a research note on Friday, November 22nd. Six research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $126.50.

Elastic Stock Down 0.7 %

Shares of NYSE:ESTC opened at $97.33 on Friday. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.99 and a quick ratio of 1.99. The stock has a market cap of $10.09 billion, a price-to-earnings ratio of 176.96 and a beta of 1.06. The company has a 50 day moving average of $99.86 and a 200-day moving average of $96.44. Elastic has a one year low of $69.00 and a one year high of $136.06.

Insiders Place Their Bets

In other Elastic news, 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 sale, the insider now directly owns 92,011 shares in the company, valued at approximately $10,244,504.74. The trade was a 10.80 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Ashutosh Kulkarni sold 7,017 shares of the business’s stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $108.12, for a total transaction of $758,678.04. Following the sale, the chief executive officer now directly owns 395,326 shares in the company, valued at $42,742,647.12. This trade represents a 1.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 168,162 shares of company stock valued at $18,637,562 in the last quarter. 15.90% of the stock is currently owned by insiders.

Institutional Trading of Elastic

A number of hedge funds and other institutional investors have recently modified their holdings of ESTC. Bangor Savings Bank bought a new position in shares of Elastic in the 4th quarter valued at about $1,657,000. Nordea Investment Management AB grew its holdings in Elastic by 6.5% during the fourth quarter. Nordea Investment Management AB now owns 80,474 shares of the company’s stock worth $8,014,000 after purchasing an additional 4,923 shares during the period. Everence Capital Management Inc. acquired a new position in Elastic during the fourth quarter worth approximately $275,000. 272 Capital LP bought a new stake in Elastic in the third quarter valued at approximately $1,104,000. Finally, Oddo BHF Asset Management Sas acquired a new stake in shares of Elastic in the third quarter valued at approximately $14,324,000. Institutional investors and hedge funds own 97.03% of the company’s stock.

About Elastic

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.