What is Scotiabank’s Forecast for Elastic FY2025 Earnings?

Elastic (NYSE:ESTC) – Investment analysts at Scotiabank lifted their FY2025 earnings per share (EPS) estimates for Elastic in a research report issued on Wednesday, January 8th. Scotiabank analyst P. Colville now anticipates that the company will post earnings per share of ($0.75) 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 research analysts have also commented on the company. Piper Sandler lifted 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. Jefferies Financial Group boosted their price objective on Elastic from $110.00 to $135.00 and gave the company a “buy” rating in a research report on Friday, November 22nd. Needham & Company LLC restated a “hold” rating on shares of Elastic in a research report on Friday, November 22nd. Morgan Stanley began coverage on Elastic in a research report on Tuesday, December 17th. They set an “overweight” rating and a $130.00 price objective for the company. Finally, Royal Bank of Canada boosted their price objective on Elastic from $110.00 to $130.00 and gave the company an “outperform” rating in a research report on Friday, November 22nd. Six 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’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $126.50.

Elastic Stock Performance

Elastic stock opened at $97.33 on Friday. The stock’s 50-day moving average is $100.19 and its 200-day moving average is $96.27. The company 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 debt-to-equity ratio of 0.70, a current ratio of 1.99 and a quick ratio of 1.99. Elastic has a 12 month low of $69.00 and a 12 month high of $136.06.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Victory Capital Management Inc. increased its stake in Elastic by 23.4% during the 2nd quarter. Victory Capital Management Inc. now owns 20,330 shares of the company’s stock valued at $2,316,000 after purchasing an additional 3,851 shares in the last quarter. Headlands Technologies LLC grew its position in Elastic by 75.4% during the second quarter. Headlands Technologies LLC now owns 628 shares of the company’s stock valued at $72,000 after buying an additional 270 shares during the period. American Century Companies Inc. grew its position in Elastic by 10.0% during the second quarter. American Century Companies Inc. now owns 30,410 shares of the company’s stock valued at $3,464,000 after buying an additional 2,777 shares during the period. NINE MASTS CAPITAL Ltd bought a new position in Elastic during the second quarter valued at about $228,000. Finally, DekaBank Deutsche Girozentrale lifted its holdings in 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. Institutional investors and hedge funds own 97.03% of the company’s stock.

Insider Activity

In other Elastic news, insider Carolyn Herzog sold 11,145 shares of the company’s stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $111.34, for a total transaction of $1,240,884.30. Following the completion of the sale, the insider now directly owns 92,011 shares in the company, valued at $10,244,504.74. This represents a 10.80 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Ashutosh Kulkarni sold 7,017 shares of the company’s stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $108.12, for a total value of $758,678.04. Following the sale, the chief executive officer now owns 395,326 shares of the company’s stock, valued at $42,742,647.12. The trade was a 1.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 168,162 shares of company stock worth $18,637,562 in the last quarter. Corporate insiders own 15.90% 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.