What is Scotiabank’s Forecast for Elastic FY2025 Earnings?

Elastic (NYSE:ESTC) – Scotiabank raised their FY2025 earnings per share (EPS) estimates for Elastic in a research report issued to clients and investors on Wednesday, January 8th. Scotiabank analyst P. Colville now expects that the company will post earnings per share of ($0.75) for the year, up from their previous estimate 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. Barclays upped their price target on Elastic from $105.00 to $138.00 and gave the stock an “overweight” rating in a research note on Monday, November 25th. Jefferies Financial Group increased their price target on Elastic from $110.00 to $135.00 and gave the company a “buy” rating in a report on Friday, November 22nd. DA Davidson boosted their price objective on shares of Elastic from $75.00 to $115.00 and gave the stock a “neutral” rating in a research note on Friday, November 22nd. Wells Fargo & Company raised their target price on shares of Elastic from $100.00 to $135.00 and gave the company an “overweight” rating in a research note on Friday, November 22nd. Finally, Baird R W raised shares of Elastic from a “hold” rating to a “strong-buy” rating in a research report 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 data from MarketBeat, Elastic has an average rating of “Moderate Buy” and a consensus price target of $126.50.

Elastic Stock Down 0.7 %

Elastic stock opened at $97.33 on Friday. The company has a market capitalization of $10.09 billion, a P/E ratio of 176.96 and a beta of 1.06. Elastic has a 1-year low of $69.00 and a 1-year high of $136.06. The firm’s fifty day simple moving average is $99.86 and its 200-day simple moving average is $96.44. The company has a current ratio of 1.99, a quick ratio of 1.99 and a debt-to-equity ratio of 0.70.

Institutional Trading of Elastic

Hedge funds have recently modified their holdings of the company. 1832 Asset Management L.P. acquired a new position in Elastic during the 2nd quarter worth about $248,335,000. FMR LLC raised its stake in shares of Elastic by 25.6% in the third quarter. FMR LLC now owns 5,475,297 shares of the company’s stock worth $420,284,000 after acquiring an additional 1,115,750 shares during the last quarter. Atreides Management LP lifted its position in shares of Elastic by 57.2% during the third 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. Federated Hermes Inc. grew its stake in shares of Elastic by 32,630.2% during the second quarter. Federated Hermes Inc. now owns 615,655 shares of the company’s stock valued at $70,129,000 after purchasing an additional 613,774 shares during the last quarter. Finally, JAT Capital Mgmt LP grew its stake in shares of Elastic by 601.4% during the third quarter. JAT Capital Mgmt LP now owns 465,549 shares of the company’s stock valued at $35,736,000 after purchasing an additional 399,175 shares during the last quarter. Institutional investors and hedge funds own 97.03% of the company’s stock.

Insider Activity at Elastic

In other Elastic news, CEO Ashutosh Kulkarni sold 7,017 shares of the stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $108.12, for a total transaction of $758,678.04. Following the completion of the transaction, the chief executive officer now directly owns 395,326 shares in the company, valued at $42,742,647.12. This represents a 1.74 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 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. Insiders have sold a total of 168,162 shares of company stock valued at $18,637,562 over the last quarter. 15.90% of the stock is owned by company insiders.

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.