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

Elastic (NYSE:ESTC) had its price target lowered by Piper Sandler from $110.00 to $85.00 in a research note released on Friday,Benzinga reports. Piper Sandler currently has an overweight rating on the stock.

A number of other analysts have also recently issued reports on the company. Rosenblatt Securities decreased their target price on Elastic from $130.00 to $110.00 and set a “buy” rating for the company in a report on Friday, January 30th. Monness Crespi & Hardt cut shares of Elastic from a “buy” rating to a “neutral” rating in a research report on Friday, November 21st. UBS Group dropped their price objective on shares of Elastic from $125.00 to $110.00 and set a “buy” rating for the company in a research report on Friday, November 21st. TD Cowen reissued a “hold” rating on shares of Elastic in a research note on Monday, February 23rd. Finally, Stifel Nicolaus decreased their price target on shares of Elastic from $134.00 to $108.00 and set a “buy” rating for the company in a research report on Friday, November 21st. Seventeen research 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 stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $96.17.

Elastic Stock Down 15.5%

Shares of NYSE ESTC opened at $52.04 on Friday. Elastic has a 52-week low of $49.90 and a 52-week high of $117.49. The firm has a fifty day moving average of $68.42 and a 200-day moving average of $77.86. The stock has a market capitalization of $5.48 billion, a PE ratio of -65.05, a P/E/G 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.

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. On average, analysts anticipate that Elastic will post -0.77 EPS for the current year.

Insider Buying and Selling at Elastic

In related news, CAO Jane E. Bone sold 1,187 shares of the business’s stock in a transaction dated Friday, January 9th. The shares were sold at an average price of $80.31, for a total transaction of $95,327.97. Following the completion of the sale, the chief accounting officer owned 43,171 shares of the company’s stock, valued at $3,467,063.01. This represents a 2.68% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Ashutosh Kulkarni sold 5,000 shares of the stock in a transaction dated Monday, December 15th. The stock was sold at an average price of $74.60, for a total transaction of $373,000.00. Following the sale, the chief executive officer owned 426,901 shares in the company, valued at approximately $31,846,814.60. This trade represents a 1.16% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 61,828 shares of company stock valued at $4,641,010. Corporate insiders own 12.70% of the company’s stock.

Institutional Trading of Elastic

Several hedge funds have recently made changes to their positions in the stock. Sound Income Strategies LLC bought a new position in Elastic during the 4th quarter worth $25,000. Geneos Wealth Management Inc. acquired a new position in shares of Elastic during the second quarter valued at $31,000. Huntington National Bank grew its position 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 acquiring an additional 231 shares during the last quarter. Plato Investment Management Ltd bought a new position in shares of Elastic during the second quarter worth about $40,000. Finally, Activest Wealth Management increased its holdings in shares of Elastic by 3,181.3% in the 4th quarter. Activest Wealth Management now owns 525 shares of the company’s stock worth $40,000 after acquiring an additional 509 shares during the period. Institutional investors own 97.03% of the company’s stock.

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.