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Elastic NV ESTC

Morningstar Rating
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Stock XNYS Rating as of
$114.67 −0.81 (0.70%)
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As of Delayed Price Post-Trading: $114.67 0.00
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Company Report

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Elastic Earnings: Robust Sales and Profitability to Finish off Fiscal 2024

Malik Ahmed Khan

We are maintaining our $92 fair value estimate for narrow-moat Elastic after the firm closed out fiscal 2024 with a strong showing. In our valuation, we offset the strong quarterly results with the firm’s disappointing preliminary fiscal 2025 sales guidance below our prior estimates. We remain optimistic about Elastic’s long-term market opportunity, especially as increased investments and customer interest in artificial intelligence should drive more sales for the firm’s Elasticsearch offering. With the firm’s shares trading up afterhours, we view Elastic as fairly valued relative to our unchanged fair value estimate.

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Price vs Fair Value

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ESTC is trading at a 168% premium.
Price
$115.48
Fair Value
$28.00
Uncertainty
Very High
1-Star Price
$686.00
5-Star Price
$48.00
Economic Moat
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Capital Allocation
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Bulls Say, Bears Say

Bulls

Elastic has strong secular tailwinds as the FSMA and security markets are expected to grow rapidly.

Bears

Elastic competes in a tough FSMA space. Companies like Splunk and Datadog offer competing platforms that have similar features to Elastic's.

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Trading Information

Previous Close Price
$115.48
Day Range
$113.51–116.44
52-Week Range
$57.38–136.06
Bid/Ask
$114.21 / $117.00
Market Cap
$11.66 Bil
Volume/Avg
1.2 Mil / 1.2 Mil

Key Statistics

Price/Earnings (Normalized)
97.02
Price/Sales
9.47
Dividend Yield (Trailing)
—
Dividend Yield (Forward)
—
Total Yield
—

Company Profile

Elastic is a software company based in Mountain View, California, focusing on search-adjacent products. Its search engine allows it to process both structured and unstructured data while gleaning insights from that data. The firm's primary focus is on enterprise search, observability, and security.
Sector
Technology
Industry
Software - Application
Stock Style Box
Mid Growth
Total Number of Employees
3,187
Website
https://www.elastic.co

Competitors

Valuation

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Metric
ESTC
CSCO
DT
Price/Earnings (Normalized)
 97.0211.8837.58
Price/Book Value
 15.914.196.64
Price/Sales
 9.473.509.43
Price/Cash Flow
 64.7711.8336.48
Price/Earnings
ESTC
CSCO
DT

Financial Strength

Metric
ESTC
CSCO
DT
Quick Ratio
 1.620.681.15
Current Ratio
 1.760.891.28
Interest Coverage
 −3.7019.46—
Quick Ratio
ESTC
CSCO
DT

Profitability

Metric
ESTC
CSCO
DT
Return on Assets (Normalized)
 6.50%15.60%12.19%
Return on Equity (Normalized)
 22.78%36.40%19.81%
Return on Invested Capital (Normalized)
 12.59%26.89%17.04%
Return on Assets
ESTC
CSCO
DT
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