Elastic (NYSE:ESTC) Price Target Lowered to $80.00 at Canaccord Genuity Group

Elastic (NYSE:ESTC) had its price objective lowered by equities researchers at Canaccord Genuity Group from $90.00 to $80.00 in a research note issued on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Canaccord Genuity Group’s target price suggests a potential upside of 25.13% from the company’s current price.

Several other equities research analysts also recently issued reports on the company. Cantor Fitzgerald lowered their price target on Elastic from $66.00 to $59.00 and set a “neutral” rating on the stock in a research report on Tuesday. Citigroup raised their price target on Elastic from $95.00 to $104.00 and gave the company a “buy” rating in a research report on Friday. TD Cowen lowered their price target on Elastic from $65.00 to $60.00 and set a “hold” rating on the stock in a research report on Tuesday. JPMorgan Chase & Co. lowered their price target on Elastic from $99.00 to $80.00 and set an “overweight” rating on the stock in a research report on Wednesday. Finally, DA Davidson set a $60.00 price target on Elastic in a research report on Friday. Eighteen analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $81.07.

Elastic Price Performance

Shares of ESTC traded up $6.32 on Friday, reaching $63.93. The stock had a trading volume of 4,141,877 shares, compared to its average volume of 2,054,944. Elastic has a twelve month low of $42.05 and a twelve month high of $96.07. The firm has a market capitalization of $6.62 billion, a PE ratio of -79.42, a PEG ratio of 101.99 and a beta of 0.88. The company has a quick ratio of 1.82, a current ratio of 1.82 and a debt-to-equity ratio of 0.72. The firm has a 50-day moving average of $50.20 and a 200 day moving average of $62.82.

Elastic (NYSE:ESTC) last announced its quarterly earnings data on Thursday, May 28th. The company reported $0.61 EPS for the quarter, beating analysts’ consensus estimates of $0.56 by $0.05. Elastic had a negative return on equity of 2.34% and a negative net margin of 5.04%.The company had revenue of $450.68 million during the quarter, compared to the consensus estimate of $446.66 million. During the same quarter in the prior year, the firm earned $0.47 EPS. The company’s quarterly revenue was up 16.0% compared to the same quarter last year. Elastic has set its FY 2027 guidance at 3.210-3.290 EPS and its Q1 2027 guidance at 0.570-0.590 EPS. Sell-side analysts expect that Elastic will post 0.04 EPS for the current year.

Insider Buying and Selling at Elastic

In related news, CTO Shay Banon sold 4,283 shares of Elastic stock in a transaction dated Monday, March 9th. The stock was sold at an average price of $52.28, for a total transaction of $223,915.24. Following the sale, the chief technology officer directly owned 4,354,945 shares of the company’s stock, valued at $227,676,524.60. This trade represents a 0.10% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Ken Exner sold 4,310 shares of Elastic stock in a transaction dated Monday, March 9th. The stock was sold at an average price of $52.28, for a total value of $225,326.80. Following the sale, the insider directly owned 222,728 shares in the company, valued at approximately $11,644,219.84. This trade represents a 1.90% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 38,188 shares of company stock valued at $1,996,469 over the last quarter. Company insiders own 12.70% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. J. Safra Sarasin Holding AG boosted its position in Elastic by 43.0% in the 4th quarter. J. Safra Sarasin Holding AG now owns 189,138 shares of the company’s stock valued at $14,269,000 after buying an additional 56,892 shares during the last quarter. Cinctive Capital Management LP bought a new position in Elastic in the 3rd quarter valued at $13,608,000. Thematics Asset Management boosted its position in Elastic by 10.2% in the 3rd quarter. Thematics Asset Management now owns 523,283 shares of the company’s stock valued at $44,212,000 after buying an additional 48,346 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its position in Elastic by 50.8% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 891,279 shares of the company’s stock valued at $75,304,000 after buying an additional 300,264 shares during the last quarter. Finally, Citigroup Inc. boosted its position in Elastic by 89.0% in the 3rd quarter. Citigroup Inc. now owns 89,357 shares of the company’s stock valued at $7,550,000 after buying an additional 42,087 shares during the last quarter. Institutional investors own 97.03% of the company’s stock.

Trending Headlines about Elastic

Here are the key news stories impacting Elastic this week:

• Positive Sentiment: Elastic beat fiscal Q4 estimates, reporting adjusted EPS of $0.61 versus $0.56 expected and revenue of $450.7 million versus $446.7 million expected, with sales up 16% year over year. Management also highlighted subscription growth, cloud expansion, and continued enterprise traction. Elastic Reports Fourth Quarter and Fiscal 2026 Financial Results
• Positive Sentiment: The company raised guidance for both fiscal 2027 and first-quarter fiscal 2027, with EPS and revenue outlooks coming in above consensus, which supports the case for continued growth and profitability improvement. ESTC Q4 Earnings Surpass Expectations, Revenues Increase Y/Y
• Neutral Sentiment: Several analysts reiterated constructive views after the print, including “outperform” and “buy” ratings, even as Wedbush and Oppenheimer trimmed price targets, reflecting confidence in the business but a reset in valuation expectations.
• Negative Sentiment: Some investors appear focused on slowing growth expectations in fiscal 2027 and the market’s reaction suggests the stock may be vulnerable if execution is solid but not enough to justify a higher multiple.

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.