Elastic (NYSE:ESTC) Price Target Lowered to $60.00 at Wells Fargo & Company

Elastic (NYSE:ESTC) had its target price dropped by Wells Fargo & Company from $75.00 to $60.00 in a note issued to investors on Friday,Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price target suggests a potential upside of 15.00% from the stock’s current price.

Several other equities research analysts also recently weighed in on the stock. Rosenblatt Securities cut their target price on shares of Elastic from $130.00 to $110.00 and set a “buy” rating on the stock in a research note on Friday, January 30th. Guggenheim restated a “buy” rating and issued a $116.00 price target on shares of Elastic in a research note on Wednesday, February 18th. Wedbush cut their price objective on Elastic from $110.00 to $90.00 and set an “outperform” rating on the stock in a research report on Friday, November 21st. Canaccord Genuity Group reduced their price objective on Elastic from $120.00 to $115.00 and set a “buy” rating on the stock in a research note on Friday, November 21st. Finally, Morgan Stanley set a $80.00 target price on Elastic in a research note on Thursday, February 19th. Seventeen equities research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Elastic presently has a consensus rating of “Moderate Buy” and a consensus target price of $97.21.

Elastic Trading Down 15.3%

Shares of NYSE:ESTC traded down $9.41 during mid-day trading on Friday, reaching $52.18. 4,695,872 shares of the company were exchanged, compared to its average volume of 1,999,048. Elastic has a 1 year low of $49.90 and a 1 year high of $117.49. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.97 and a quick ratio of 1.97. The firm’s 50-day simple moving average is $68.90 and its 200 day simple moving average is $77.96. The firm has a market cap of $5.50 billion, a price-to-earnings ratio of -50.69, a P/E/G ratio of 235.94 and a beta of 0.93.

Insiders Place Their Bets

In other news, insider Carolyn Herzog sold 5,353 shares of Elastic stock in a transaction dated Tuesday, December 9th. The stock was sold at an average price of $75.05, for a total transaction of $401,742.65. Following the sale, the insider owned 89,324 shares in the company, valued at approximately $6,703,766.20. The trade was a 5.65% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Ashutosh Kulkarni sold 20,413 shares of Elastic stock in a transaction that occurred on Tuesday, December 9th. The stock was sold at an average price of $75.05, for a total value of $1,531,995.65. Following the transaction, the chief executive officer directly owned 431,901 shares in the company, valued at approximately $32,414,170.05. This trade represents a 4.51% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 61,828 shares of company stock worth $4,641,010. 12.70% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Elastic

Hedge funds have recently modified their holdings of the business. Sound Income Strategies LLC purchased a new position in Elastic during the 4th quarter worth $25,000. Geneos Wealth Management Inc. acquired a new stake in shares of Elastic during the second quarter worth about $31,000. Huntington National Bank boosted its stake in shares of Elastic by 97.5% during the second quarter. Huntington National Bank now owns 468 shares of the company’s stock worth $39,000 after buying an additional 231 shares during the period. Plato Investment Management Ltd acquired a new position in Elastic in the 2nd quarter valued at about $40,000. Finally, Activest Wealth Management raised its stake in Elastic by 3,181.3% during the 4th quarter. Activest Wealth Management now owns 525 shares of the company’s stock valued at $40,000 after acquiring an additional 509 shares during the last quarter. 97.03% of the stock is currently owned by hedge funds and other institutional investors.

Elastic News Roundup

Here are the key news stories impacting Elastic this week:

• Positive Sentiment: Company issued stronger-than-expected forward guidance for Q4 FY2026 and FY2026 (EPS and revenue guidance well above consensus), which is bullish for future profitability and cash flow. Elastic Reports Third Quarter Fiscal 2026 Financial Results
• Positive Sentiment: Top-line strength: revenue of ~$450M (+18% YoY) and subscription revenue growth — management highlighted AI expansion and sales-led subscription gains, supporting the company’s growth story. Elastic NV (ESTC) Q3 2026 Earnings Call Highlights
• Neutral Sentiment: Several analyst notes: Oppenheimer and Barclays trimmed price targets (Oppenheimer $100→$85; Barclays $78→$76) but retained Outperform/Overweight ratings—still implying meaningful upside from current levels, though less than before. Benzinga
• Neutral Sentiment: Earnings call/transcripts are available for detail on margin drivers, AI product momentum and guidance assumptions — useful for investors who want to dig into the drivers behind management’s upbeat outlook. Elastic Q3 2026 Earnings Call Transcript
• Negative Sentiment: Mixed/weak EPS metrics: some outlets reported an EPS miss or GAAP loss for the quarter despite revenue strength — this disconnect between revenue and per‑share earnings (and confusion around reported EPS) appears to have triggered selling pressure. Elastic earnings snapshot
• Negative Sentiment: Market reaction: several news outlets noted the stock tumbled after the print despite revenue beats — likely short‑term profit-taking, focus on EPS/GAAP metrics, and reduced near‑term analyst upside after PT cuts. Elastic shares tumble despite beating third quarter estimates

Elastic Company Profile

Elastic N.V. operates as a search and analytics company, offering a suite of open source and subscription-based solutions for search, observability and security use cases. Its flagship product, Elasticsearch, enables fast and scalable full-text search and analytics across large volumes of structured and unstructured data. Complementary tools such as Kibana provide visualization capabilities, while Beats and Logstash serve as lightweight data shippers and data processing pipelines, respectively.

The company was founded in 2012 by Shay Banon, who serves as chief technology officer, and Steven Schuurman.