Oppenheimer Cuts Elastic (NYSE:ESTC) Price Target to $85.00

Elastic (NYSE:ESTC) had its target price trimmed by Oppenheimer from $100.00 to $85.00 in a report issued on Friday,Benzinga reports. The brokerage currently has an outperform rating on the stock.

A number of other analysts have also recently issued reports on the company. Weiss Ratings reiterated a “sell (d)” rating on shares of Elastic in a report on Wednesday, January 21st. Wells Fargo & Company reduced their price target on shares of Elastic from $90.00 to $75.00 and set an “equal weight” rating on the stock in a research report on Friday, November 21st. Piper Sandler dropped their price objective on shares of Elastic from $125.00 to $110.00 and set an “overweight” rating for the company in a research report on Friday, November 21st. TD Cowen restated a “hold” rating on shares of Elastic in a report on Monday, February 23rd. Finally, DA Davidson decreased their price target 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. Seventeen 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’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $96.17.

Elastic Stock Down 15.5%

Shares of ESTC opened at $52.04 on Friday. The firm has a market cap of $5.48 billion, a PE ratio of -65.05, a price-to-earnings-growth ratio of 211.81 and a beta of 0.98. The company has a quick ratio of 1.97, a current ratio of 1.97 and a debt-to-equity ratio of 0.64. The company’s fifty day moving average is $68.42 and its two-hundred day moving average is $77.86. Elastic has a fifty-two week low of $49.90 and a fifty-two week high of $117.49.

Elastic (NYSE:ESTC) last issued its earnings results on Thursday, February 26th. The company reported $0.73 earnings per share for the quarter, topping the consensus estimate 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 business had revenue of $449.88 million for the quarter, compared to analyst estimates of $438.37 million. During the same period last year, the company posted $0.63 EPS. The business’s quarterly revenue 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. Analysts forecast that Elastic will post -0.77 earnings per share for the current year.

Insider Transactions at Elastic

In related news, CEO Ashutosh Kulkarni sold 20,413 shares of the business’s stock in a transaction dated 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 owned 431,901 shares in the company, valued at approximately $32,414,170.05. The trade was a 4.51% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CTO Shay Banon sold 4,552 shares of the stock in a transaction dated Tuesday, December 9th. The shares were sold at an average price of $75.05, for a total value of $341,627.60. Following the completion of the transaction, the chief technology officer directly owned 4,359,228 shares of the company’s stock, valued at $327,160,061.40. This represents a 0.10% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 61,828 shares of company stock worth $4,641,010 over the last three months. Insiders own 12.70% of the company’s stock.

Hedge Funds Weigh In On Elastic

Several institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. increased its stake in shares of Elastic by 7.4% in the third quarter. Vanguard Group Inc. now owns 10,206,204 shares of the company’s stock worth $862,322,000 after buying an additional 705,991 shares during the last quarter. AQR Capital Management LLC grew its holdings in Elastic by 153.4% during the 4th quarter. AQR Capital Management LLC now owns 7,545,081 shares of the company’s stock worth $569,201,000 after acquiring an additional 4,567,720 shares in the last quarter. Pictet Asset Management Holding SA increased its position in shares of Elastic by 3.2% in the 4th quarter. Pictet Asset Management Holding SA now owns 4,534,498 shares of the company’s stock worth $342,127,000 after purchasing an additional 138,974 shares during the last quarter. FIL Ltd raised its stake in shares of Elastic by 36.9% in the 4th quarter. FIL Ltd now owns 3,628,748 shares of the company’s stock valued at $273,753,000 after purchasing an additional 977,578 shares in the last quarter. Finally, Voya Investment Management LLC raised its stake in shares of Elastic by 4.7% in the 3rd quarter. Voya Investment Management LLC now owns 1,781,925 shares of the company’s stock valued at $150,555,000 after purchasing an additional 79,465 shares in 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 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

About Elastic

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.