Barclays Cuts Elastic (NYSE:ESTC) Price Target to $76.00

Elastic (NYSE:ESTC) had its price target trimmed by Barclays from $78.00 to $76.00 in a report released on Friday morning,Benzinga reports. The firm currently has an overweight rating on the stock.

ESTC has been the topic of a number of other reports. Citigroup reduced their price target on shares of Elastic from $115.00 to $95.00 and set a “buy” rating on the stock in a research report on Friday, February 20th. Cantor Fitzgerald dropped their price target on Elastic from $94.00 to $85.00 and set a “neutral” rating for the company in a 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. UBS Group lowered their target price on Elastic from $125.00 to $110.00 and set a “buy” rating for the company in a research note on Friday, November 21st. Finally, Truist Financial cut their price target on Elastic from $140.00 to $120.00 and set a “buy” rating for the company in a report on Wednesday, November 19th. Seventeen investment analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $96.17.

Elastic Price Performance

Shares of ESTC stock opened at $52.04 on Friday. The stock’s fifty day simple moving average is $68.42 and its 200 day simple moving average is $77.86. Elastic has a one year low of $49.90 and a one year high of $117.49. The firm has a market cap of $5.48 billion, a price-to-earnings ratio of -65.05, a P/E/G ratio of 211.81 and a beta of 0.98. 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 (NYSE:ESTC) last issued its quarterly earnings data on Thursday, February 26th. The company reported $0.73 earnings per share (EPS) for the quarter, beating 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 business earned $0.63 earnings per share. The business’s 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. On average, analysts expect that Elastic will post -0.77 earnings per share for the current fiscal year.

Insider Activity at Elastic

In related news, CEO Ashutosh Kulkarni sold 20,413 shares of the stock in a transaction that occurred on Tuesday, December 9th. The shares were 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 $32,414,170.05. This represents a 4.51% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Ken Exner sold 6,544 shares of Elastic stock in a transaction on Tuesday, December 9th. The stock was sold at an average price of $75.05, for a total transaction of $491,127.20. Following the sale, the insider directly owned 227,038 shares of the company’s stock, valued at $17,039,201.90. This represents a 2.80% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 61,828 shares of company stock worth $4,641,010. Insiders own 12.70% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its stake in Elastic by 7.4% in the third quarter. Vanguard Group Inc. now owns 10,206,204 shares of the company’s stock valued at $862,322,000 after buying an additional 705,991 shares during the period. AQR Capital Management LLC increased its stake in shares of Elastic by 153.4% in the 4th quarter. AQR Capital Management LLC now owns 7,545,081 shares of the company’s stock valued at $569,201,000 after acquiring an additional 4,567,720 shares during the last quarter. Pictet Asset Management Holding SA raised 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 valued at $342,127,000 after acquiring an additional 138,974 shares during the period. FIL Ltd boosted its stake in Elastic by 36.9% during the 4th quarter. FIL Ltd now owns 3,628,748 shares of the company’s stock worth $273,753,000 after acquiring an additional 977,578 shares during the last quarter. Finally, Voya Investment Management LLC boosted its stake in Elastic by 4.7% during the 3rd quarter. Voya Investment Management LLC now owns 1,781,925 shares of the company’s stock worth $150,555,000 after acquiring an additional 79,465 shares during the last quarter. 97.03% of the stock is currently owned by institutional investors.

Key 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

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.