Gold prices bounce off 3-week lows; demand likely longer term
Carolyn Herzog, Chief Legal Officer at Elastic N.V. (NYSE:ESTC), recently sold a total of $743,097 worth of company stock over two days. The transactions, filed in a Form 4 with the SEC, involved the sale of 3,334 shares at $90.78 each on March 10, totaling $302,660, and 4,500 shares at $97.875 each on March 11, totaling $440,437. The sales come as Elastic’s stock has seen significant volatility, dropping 10% in the past week despite gaining over 33% in the last six months. According to InvestingPro data, the company maintains strong liquidity with a current ratio of 2.02.
Following these sales, Herzog retains ownership of 79,652 shares. According to the filing, the sales were executed to meet tax obligations related to the vesting of restricted stock units as mandated by the company’s equity incentive plan, rather than as discretionary trades by Herzog.
In other recent news, Elastic NV has reported strong third-quarter fiscal year 2025 results, exceeding expectations in both earnings and revenue. This performance has led to several analysts adjusting their price targets for the company. UBS raised its price target to $148 from $140, citing a 26% growth in Cloud revenue and improved execution in its business strategy. Similarly, Truist Securities increased its target to $145, highlighting Elastic’s robust demand for search capabilities and generative AI use cases.
Meanwhile, TD Cowen adjusted its price target to $125, maintaining a Hold rating, and noted Elastic’s strong enterprise consumption and cloud revenue performance. DA Davidson retained a Neutral stance with a $115 target, acknowledging the company’s operational efficiency and the appointment of Navam Welihinda as the new Chief Financial Officer. In contrast, Stifel lowered its price target to $38 while maintaining a Buy rating, focusing on Elastic’s revenue beat and improved go-to-market execution.
Elastic’s management has revised its fiscal year 2025 revenue guidance upwards, aligning closely with original forecasts. The company plans to continue investing in growth opportunities, particularly in generative AI, which analysts suggest may lead to further positive developments. These recent developments reflect Elastic’s recovery from earlier disruptions and its strategic focus on enhancing customer relationships and operational efficiency.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.