Elastic (NYSE:ESTC) Price Target Lowered to $80.00 at Truist Financial

Elastic (NYSE:ESTC) had its target price lowered by Truist Financial from $105.00 to $80.00 in a report issued on Friday,Benzinga reports. The firm currently has a buy rating on the stock.

A number of other research firms have also weighed in on ESTC. Oppenheimer lowered their price objective on shares of Elastic from $100.00 to $85.00 and set an “outperform” rating on the stock in a research report on Friday. Citigroup dropped their price target on shares of Elastic from $115.00 to $95.00 and set a “buy” rating on the stock in a research note on Friday, February 20th. DA Davidson reduced their price objective on shares of Elastic from $100.00 to $80.00 and set a “neutral” rating for the company in a research report on Friday, November 21st. Stifel Nicolaus lowered their price objective on Elastic from $134.00 to $108.00 and set a “buy” rating on the stock in a report on Friday, November 21st. Finally, Canaccord Genuity Group cut their target price on Elastic from $120.00 to $115.00 and set a “buy” rating for the company in a research note on Friday, November 21st. Seventeen investment analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $96.17.

Elastic Stock Performance

Shares of NYSE:ESTC traded down $9.54 on Friday, reaching $52.04. The company’s stock had a trading volume of 7,383,348 shares, compared to its average volume of 2,317,698. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.97 and a quick ratio of 1.97. Elastic has a 52-week low of $49.90 and a 52-week high of $117.49. The stock’s 50-day moving average is $68.42 and its two-hundred day moving average is $77.82. The stock has a market capitalization of $5.48 billion, a P/E ratio of -65.05, a PEG ratio of 250.50 and a beta of 0.93.

Elastic (NYSE:ESTC) last posted its quarterly earnings data on Thursday, February 26th. The company reported $0.73 earnings per share for the quarter, topping analysts’ consensus estimates of $0.64 by $0.09. Elastic had a negative return on equity of 2.25% and a negative net margin of 5.04%.The company had revenue of $449.88 million during the quarter, compared to analysts’ expectations of $438.37 million. During the same period last year, the firm earned $0.63 EPS. The firm’s revenue for the quarter was up 17.7% on a year-over-year basis. Elastic has set its FY 2026 guidance at 2.500-2.540 EPS and its Q4 2026 guidance at 0.550-0.570 EPS. As a group, sell-side analysts forecast that Elastic will post -0.77 EPS for the current year.

Insider Activity at Elastic

In related news, Director Paul R. Auvil III purchased 10,000 shares of the business’s stock in a transaction dated Monday, December 1st. The stock was bought at an average cost of $71.02 per share, with a total value of $710,200.00. Following the completion of the acquisition, the director directly owned 37,956 shares in the company, valued at $2,695,635.12. The trade was a 35.77% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Ken Exner sold 6,544 shares of the company’s stock in a transaction on Tuesday, December 9th. The shares were sold at an average price of $75.05, for a total value of $491,127.20. Following the completion of the sale, the insider owned 227,038 shares in the company, valued at $17,039,201.90. This represents a 2.80% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 61,828 shares of company stock valued at $4,641,010 in the last ninety days. 12.70% of the stock is owned by insiders.

Institutional Inflows and Outflows

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

More Elastic News

Here are the key news stories impacting Elastic this week:

• Positive Sentiment: Company beat revenue expectations and reported 18% year‑over‑year revenue growth; management emphasized AI expansion and subscription growth, which supports longer‑term demand assumptions. Elastic Reports Third Quarter Fiscal 2026 Financial Results
• Positive Sentiment: Management raised forward guidance sharply: FY26 and Q4 EPS guidance well above Street consensus and revenue guidance roughly in line — a sign the company expects stronger profitability going forward (this is a bullish catalyst if execution continues). Elastic Reports Third Quarter Fiscal 2026 Financial Results
• Neutral Sentiment: Detailed materials and call transcripts were published (earnings deck and conference call transcripts) — useful for investors who want to dig into non‑GAAP vs GAAP items, margin drivers, and AI product commentary. Q3 2026 Earnings Call Transcript
• Negative Sentiment: Market reaction focused on an apparent earnings/methodology gap: some reports showed adjusted profits above estimates while GAAP/other EPS metrics missed — this disconnect likely triggered selling despite the revenue beat. Elastic Q3 Results and Transcript (MarketBeat)
• Negative Sentiment: Multiple sell‑side firms cut price targets this morning (Canaccord, Wells Fargo, Truist, Piper Sandler, Oppenheimer, Barclays), reducing near‑term analyst support and dragging sentiment lower. The coordinated downgrades are a primary driver of the intraday selloff. Analyst price target updates (Benzinga)
• Negative Sentiment: News coverage highlights that shares fell sharply despite beating revenue estimates — suggesting investors are focused on margins, EPS presentation, and the quick profit‑taking after recent gains. 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.