Elastic (NYSE:ESTC) Given New $85.00 Price Target at Oppenheimer

Elastic (NYSE:ESTC) had its target price lowered by Oppenheimer from $100.00 to $85.00 in a report released on Friday,Benzinga reports. The firm currently has an outperform rating on the stock.

A number of other equities research analysts have also recently issued reports on ESTC. Stifel Nicolaus cut their target price on Elastic from $134.00 to $108.00 and set a “buy” rating on the stock in a research note on Friday, November 21st. Weiss Ratings reissued a “sell (d)” rating on shares of Elastic in a report on Wednesday, January 21st. Scotiabank lowered their target price on Elastic from $90.00 to $76.00 and set a “sector perform” rating on the stock in a research report on Friday, November 21st. JPMorgan Chase & Co. cut their target price on Elastic from $113.00 to $98.00 and set an “overweight” rating on the stock in a research note on Friday, February 20th. Finally, Truist Financial decreased their price target on Elastic from $140.00 to $120.00 and set a “buy” rating for the company in a research note on Wednesday, November 19th. Seventeen analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $96.17.

Elastic Stock Performance

ESTC stock traded down $9.54 during midday trading on Friday, reaching $52.04. The company had a trading volume of 7,383,348 shares, compared to its average volume of 2,317,698. The firm has a market capitalization of $5.48 billion, a PE ratio of -65.05, a P/E/G ratio of 250.50 and a beta of 0.93. The stock has a 50 day moving average price of $68.42 and a 200 day moving average price of $77.82. Elastic has a fifty-two week low of $49.90 and a fifty-two week high of $117.49. 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 announced its quarterly earnings results on Thursday, February 26th. The company reported $0.73 earnings per share for the quarter, topping 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 business had revenue of $449.88 million for the quarter, compared to analysts’ expectations of $438.37 million. During the same period in the prior year, the firm earned $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. Analysts anticipate that Elastic will post -0.77 earnings per share for the current year.

Insider Transactions at Elastic

In other news, insider Ken Exner sold 6,544 shares of Elastic 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 $491,127.20. Following the transaction, the insider directly owned 227,038 shares of the company’s stock, valued at $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 SEC, which is available at this link. Also, insider Carolyn Herzog sold 5,353 shares of the business’s stock in a transaction that occurred on Tuesday, December 9th. The shares were sold at an average price of $75.05, for a total transaction of $401,742.65. Following the sale, the insider owned 89,324 shares in the company, valued at $6,703,766.20. This represents a 5.65% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 61,828 shares of company stock worth $4,641,010 in the last three months. Insiders own 12.70% of the company’s stock.

Institutional Trading of Elastic

Large investors have recently added to or reduced their stakes in the company. Orion Porfolio Solutions LLC raised its position in Elastic by 1.4% during the third quarter. Orion Porfolio Solutions LLC now owns 8,593 shares of the company’s stock valued at $726,000 after buying an additional 118 shares during the period. Northwestern Mutual Wealth Management Co. raised its position in shares of Elastic by 17.3% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,159 shares of the company’s stock valued at $98,000 after purchasing an additional 171 shares during the period. Public Employees Retirement System of Ohio lifted its position in Elastic by 0.6% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 28,323 shares of the company’s stock worth $2,393,000 after acquiring an additional 175 shares during the last quarter. Jones Financial Companies Lllp lifted its position in shares of Elastic by 6.9% during the 3rd quarter. Jones Financial Companies Lllp now owns 3,020 shares of the company’s stock worth $260,000 after purchasing an additional 194 shares during the last quarter. Finally, California State Teachers Retirement System boosted its position in shares of Elastic by 0.3% in the second quarter. California State Teachers Retirement System now owns 83,403 shares of the company’s stock valued at $7,033,000 after acquiring an additional 219 shares during the period. 97.03% of the stock is owned by institutional investors and hedge funds.

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

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.