S&P 500 climbs, but Nvidia slip keeps lid on gains
Elastic NV stock has reached a 52-week low, touching a price of 70.14 USD, with the current price hovering around $69.16. This milestone marks a significant point in the company’s trading history over the past year, with shares now down 41.8% from their 52-week high of $118.84. The stock’s performance has been under pressure, with a steep 9.63% decline just last week and a year-to-date drop of 17.16%, according to InvestingPro data. This decline highlights the challenges faced by Elastic NV in the current market environment, as the company navigates various economic factors while still posting a 16.98% revenue growth on $1.61 billion in sales. Despite not being profitable over the last twelve months with EPS of -$1.04, the company maintains strong liquidity with a current ratio of 1.97. Investors are closely monitoring the situation, looking for potential signs of recovery, with InvestingPro analysis suggesting the stock is currently undervalued compared to its Fair Value. Analyst consensus remains bullish with a "Buy" rating and forecasts indicating profitability this year. For deeper insights and 6 additional ProTips on Elastic NV, plus access to the comprehensive Pro Research Report, check out InvestingPro.
In other recent news, Elastic NV reported its fiscal second-quarter 2026 results, which exceeded revenue estimates. The company saw a 16% year-over-year revenue growth, with its Elastic Cloud segment showing a 22% increase, driven by larger customer acquisition and broader solution adoption. Following these results, Rosenblatt reiterated its Buy rating and maintained a $130 price target. Despite this positive performance, several firms adjusted their price targets for Elastic. DA Davidson lowered its price target to $80, citing mixed growth trends and a slowdown in cloud growth. Similarly, Scotiabank reduced its target to $76, noting a "tad disappointing" top-line performance compared to guidance and cloud peers. Cantor Fitzgerald also decreased its target to $85, although it acknowledged Elastic’s better-than-expected quarterly results and the raised full-year revenue guidance. Canaccord Genuity adjusted its target to $115 due to broader multiple compression but maintained a Buy rating, indicating continued upside potential for the shares. These developments highlight varied analyst perspectives following Elastic’s recent earnings announcement.
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