Elastic (NYSE:ESTC) Price Target Cut to $60.00 by Analysts at Wells Fargo & Company

Elastic (NYSE:ESTC) had its target price trimmed by Wells Fargo & Company from $75.00 to $60.00 in a research note released on Friday morning,Benzinga reports. The brokerage currently has an equal weight rating on the stock.

Several other research firms have also issued reports on ESTC. UBS Group dropped their target price on Elastic from $125.00 to $110.00 and set a “buy” rating on the stock in a report on Friday, November 21st. Guggenheim reiterated a “buy” rating and set a $116.00 price objective on shares of Elastic in a research note on Wednesday, February 18th. Oppenheimer decreased their target price on shares of Elastic from $100.00 to $85.00 and set an “outperform” rating for the company in a research note on Friday. Bank of America lowered their target price on shares of Elastic from $111.00 to $90.00 and set a “neutral” rating on the stock in a report on Friday, November 21st. Finally, Monness Crespi & Hardt cut shares of Elastic from a “buy” rating to a “neutral” rating in a research note on Friday, November 21st. Seventeen equities research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $96.17.

Elastic Stock Down 15.5%

Shares of NYSE ESTC traded down $9.54 during midday trading 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 stock has a 50 day simple moving average of $68.42 and a 200-day simple moving average of $77.82. 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 market capitalization of $5.48 billion, a price-to-earnings ratio of -65.05, a PEG ratio of 250.50 and a beta of 0.93. Elastic has a fifty-two week low of $49.90 and a fifty-two week high of $117.49.

Elastic (NYSE:ESTC) last announced its earnings results on Thursday, February 26th. The company reported $0.73 EPS for the quarter, topping the consensus estimate of $0.64 by $0.09. Elastic had a negative net margin of 5.04% and a negative return on equity of 2.25%. The business had revenue of $449.88 million during the quarter, compared to analysts’ expectations of $438.37 million. During the same quarter in the prior year, the company posted $0.63 earnings per share. The firm’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. Equities research analysts predict that Elastic will post -0.77 earnings per share for the current year.

Insider Activity at Elastic

In related news, CAO Jane E. Bone sold 1,187 shares of the firm’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 transaction, the chief accounting officer directly owned 43,171 shares of the company’s stock, valued at approximately $3,467,063.01. This trade represents a 2.68% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Ken Exner sold 6,544 shares of the business’s stock in a transaction dated Tuesday, December 9th. The shares were sold at an average price of $75.05, for a total transaction of $491,127.20. Following the completion of 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 ninety days, insiders have sold 61,828 shares of company stock valued at $4,641,010. 12.70% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Elastic

Hedge funds and other institutional investors have recently made changes to their positions in the business. Sound Income Strategies LLC bought a new stake in shares of Elastic in the fourth quarter valued at approximately $25,000. Geneos Wealth Management Inc. acquired a new position in Elastic in the 2nd quarter valued at $31,000. Huntington National Bank lifted its position in shares of Elastic by 97.5% during the 2nd quarter. Huntington National Bank now owns 468 shares of the company’s stock valued at $39,000 after acquiring an additional 231 shares during the period. Plato Investment Management Ltd bought a new stake in shares of Elastic during the 2nd quarter valued at $40,000. Finally, Activest Wealth Management grew its holdings in shares of Elastic by 3,181.3% during the 4th quarter. Activest Wealth Management now owns 525 shares of the company’s stock worth $40,000 after purchasing an additional 509 shares in the last quarter. 97.03% of the stock is currently owned by institutional investors and hedge funds.

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.