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

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

Several other equities research analysts have also recently weighed in on ESTC. Canaccord Genuity Group decreased their target price on Elastic from $120.00 to $115.00 and set a “buy” rating for the company in a research note on Friday, November 21st. Bank of America reduced their price objective on shares of Elastic from $111.00 to $90.00 and set a “neutral” rating for the company in a research report on Friday, November 21st. Royal Bank Of Canada dropped their target price on shares of Elastic from $115.00 to $95.00 and set an “outperform” rating on the stock in a research report on Monday, January 5th. Cantor Fitzgerald cut their target price on Elastic from $94.00 to $85.00 and set a “neutral” rating on the stock in a research report on Friday, November 21st. Finally, Scotiabank decreased their target price on Elastic from $90.00 to $76.00 and set a “sector perform” rating for the company in a research report on Friday, November 21st. Seventeen investment analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Elastic currently has a consensus rating of “Moderate Buy” and a consensus target price of $96.17.

Elastic Stock Down 15.5%

Shares of ESTC stock traded down $9.54 on Friday, reaching $52.04. 7,383,348 shares of the stock were exchanged, compared to its average volume of 2,317,698. The company 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. The business’s 50 day moving average price is $68.42 and its 200 day moving average price is $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. Elastic has a twelve month low of $49.90 and a twelve month high of $117.49.

Elastic (NYSE:ESTC) last posted its quarterly earnings results on Thursday, February 26th. The company reported $0.73 earnings per share for the quarter, beating analysts’ consensus estimates of $0.64 by $0.09. The company had revenue of $449.88 million for the quarter, compared to analysts’ expectations of $438.37 million. Elastic had a negative return on equity of 2.25% and a negative net margin of 5.04%.Elastic’s quarterly revenue was up 17.7% on a year-over-year basis. During the same period last year, the firm earned $0.63 earnings per share. Elastic has set its FY 2026 guidance at 2.500-2.540 EPS and its Q4 2026 guidance at 0.550-0.570 EPS. As a group, sell-side analysts expect that Elastic will post -0.77 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Elastic news, insider Ken Exner sold 6,544 shares of the firm’s stock in a transaction on Tuesday, December 9th. The stock was sold at an average price of $75.05, for a total value of $491,127.20. Following the completion of the sale, the insider owned 227,038 shares of the company’s stock, valued at approximately $17,039,201.90. This trade represents a 2.80% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Ashutosh Kulkarni sold 5,000 shares of the business’s stock in a transaction on 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 $31,846,814.60. The trade was a 1.16% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 61,828 shares of company stock worth $4,641,010. Corporate insiders own 12.70% of the company’s stock.

Hedge Funds Weigh In On Elastic

A number of large investors have recently made changes to their positions in the stock. Sound Income Strategies LLC purchased a new stake in Elastic during the fourth quarter worth about $25,000. Geneos Wealth Management Inc. purchased a new position in Elastic in the second quarter valued at about $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 purchased a new stake in shares of Elastic during the 2nd quarter worth approximately $40,000. Finally, Activest Wealth Management grew 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. Hedge funds and other 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: 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.