Caesars Entertainment misses Q2 earnings expectations, shares edge lower
In a recent transaction, Banon Shay, Chief Technology Officer of Elastic N.V. (NYSE:ESTC), a $10.3 billion market cap company with strong liquidity metrics and a current ratio of 2.02, sold 2,683 ordinary shares of the company, totaling $243,562. According to InvestingPro data, while the stock has declined 10% in the past week, it has gained over 33% in the last six months. The shares were sold at a price of $90.78 each. This transaction was part of a mandated "sell to cover" to fulfill tax obligations related to the vesting of restricted stock units, as per the company’s equity incentive plan. Following this sale, Shay retains direct ownership of 4,535,456 shares. Additionally, Shay indirectly controls another 2,254,978 shares held in a fund for the benefit of his minor children. InvestingPro analysis shows the company maintains a strong balance sheet with more cash than debt, though it trades at a relatively high Price/Book multiple of 11.8x. Discover more insights about ESTC in the comprehensive Pro Research Report, available with an InvestingPro subscription.
In other recent news, Elastic NV reported third-quarter results for fiscal year 2025 that exceeded expectations, leading several analyst firms to adjust their price targets and ratings. Truist Securities raised its price target to $145, citing improved execution and a surge in demand for Elastic’s search capabilities and GenAI use cases. UBS also increased its price target to $148, highlighting strong 26% constant currency growth in Cloud revenue and a significant year-over-year increase in remaining performance obligations. Meanwhile, TD Cowen adjusted its price target to $125, noting robust enterprise consumption and a modest 14% increase in fourth-quarter revenue guidance.
DA Davidson maintained a Neutral rating with a $115 target, acknowledging Elastic’s strong quarterly performance and improved operating margins. Stifel, however, revised its price target downward to $38 while retaining a Buy rating, attributing the adjustment to anticipated limited growth in SaaS additions due to foreign exchange headwinds. Elastic’s management has revised its fiscal year 2025 revenue guidance upwards, aligning closely with original forecasts before earlier go-to-market challenges.
The company also announced the appointment of Navam Welihinda as the new Chief Financial Officer. Analysts have noted Elastic’s operational efficiency and its ability to leverage opportunities in generative AI as key factors in its recent performance. Despite these positive developments, some analysts remain cautious about future trends due to low visibility into quarterly usage.
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