Elastic (NYSE:ESTC) Given New $90.00 Price Target at Canaccord Genuity Group

Elastic (NYSE:ESTC) had its price objective dropped by equities researchers at Canaccord Genuity Group from $115.00 to $90.00 in a research report issued on Friday,Benzinga reports. The firm presently has a “buy” rating on the stock. Canaccord Genuity Group’s price objective indicates a potential upside of 74.02% from the stock’s current price.

A number of other brokerages also recently commented on ESTC. Weiss Ratings restated a “sell (d)” rating on shares of Elastic in a research note on Wednesday, January 21st. Truist Financial decreased their target price on shares of Elastic from $105.00 to $80.00 and set a “buy” rating for the company in a research report on Friday. Citigroup cut their price target on Elastic from $115.00 to $95.00 and set a “buy” rating on the stock in a report on Friday, February 20th. Scotiabank decreased their price objective on Elastic from $90.00 to $76.00 and set a “sector perform” rating for the company in a report on Friday, November 21st. Finally, DA Davidson cut their target price on Elastic from $100.00 to $80.00 and set a “neutral” rating on the stock in a research note on Friday, November 21st. Seventeen equities research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $96.17.

Elastic Stock Performance

ESTC traded down $9.86 on Friday, hitting $51.72. 5,369,446 shares of the company’s stock were exchanged, compared to its average volume of 2,018,278. The company has a current ratio of 1.97, a quick ratio of 1.97 and a debt-to-equity ratio of 0.64. The stock has a fifty day moving average of $68.90 and a two-hundred day moving average of $77.96. Elastic has a twelve month low of $49.90 and a twelve month high of $117.49. The firm has a market cap of $5.45 billion, a PE ratio of -49.99, a P/E/G ratio of 235.94 and a beta of 0.93.

Insider Activity at Elastic

In related news, insider Ken Exner sold 6,544 shares of Elastic 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 of the company’s stock, valued at approximately $17,039,201.90. The trade was a 2.80% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Navam Welihinda sold 1,046 shares of the company’s stock in a transaction dated Wednesday, December 10th. The stock was sold at an average price of $74.51, for a total value of $77,937.46. Following the sale, the chief financial officer owned 123,874 shares of the company’s stock, valued at approximately $9,229,851.74. This trade represents a 0.84% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, 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

Institutional investors have recently modified their holdings of the company. AXQ Capital LP bought a new position in Elastic in the 2nd quarter worth approximately $419,000. Geode Capital Management LLC increased its position in Elastic by 3.6% during the second quarter. Geode Capital Management LLC now owns 1,569,578 shares of the company’s stock worth $132,384,000 after acquiring an additional 54,812 shares during the period. Mackenzie Financial Corp raised its stake in Elastic by 622.2% during the 2nd quarter. Mackenzie Financial Corp now owns 77,005 shares of the company’s stock valued at $6,494,000 after purchasing an additional 66,342 shares during the last quarter. Panagora Asset Management Inc. grew its position in Elastic by 102.3% in the 2nd quarter. Panagora Asset Management Inc. now owns 464,268 shares of the company’s stock worth $39,152,000 after purchasing an additional 234,735 shares during the last quarter. Finally, Magnetar Financial LLC grew its position in Elastic by 127.9% in the 2nd quarter. Magnetar Financial LLC now owns 57,354 shares of the company’s stock worth $4,837,000 after purchasing an additional 32,184 shares during the last quarter. Institutional investors own 97.03% of the company’s stock.

More Elastic News

Here are the key news stories impacting Elastic this week:

• Positive Sentiment: Company raised guidance sharply: Elastic issued much stronger-than-expected Q4 and FY2026 guidance (Q4 EPS guide ~0.55–0.57 vs. consensus ~0.32; FY EPS guide ~2.50–2.54 vs. consensus ~1.47), signaling confident outlook on revenue and profitability. Business Wire: Q3 results
• Positive Sentiment: Top-line beat and solid growth: Q3 revenue came in around $450M (≈+18% YoY) and subscription revenue grew ~19% — evidence demand remains intact. Business Wire: Q3 highlights
• Neutral Sentiment: Earnings call and coverage available — management commentary emphasized Search AI expansion and go-to-market execution (useful for parsing sustainability of guidance). Earnings call transcript
• Negative Sentiment: Big EPS miss on the reported quarter: Elastic reported ($0.03) GAAP EPS vs. consensus of $0.64 — the profit miss spooked investors despite the revenue beat. MarketBeat: Earnings summary
• Negative Sentiment: Multiple analyst firms trimmed price targets today (Wells Fargo to $60, Truist to $80, Piper Sandler to $85, Oppenheimer to $85, Barclays to $76), reducing near-term upside expectations and weighing on sentiment. Benzinga: analyst moves TickerReport: Wells Fargo PT cut
• Negative Sentiment: Market reaction: media and market pieces highlight shares tumbling despite revenue beat — indicates investors are focusing on the EPS miss and revised analyst expectations rather than the upbeat guidance for now. Investing.com: market reaction

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.