Elastic (NYSE:ESTC) Given New $65.00 Price Target at DA Davidson

Elastic (NYSE:ESTC) had its price objective lowered by DA Davidson from $80.00 to $65.00 in a research note released on Monday,Benzinga reports. The brokerage currently has a neutral rating on the stock.

Other equities analysts have also recently issued research reports about the stock. Wedbush dropped their target price on shares of Elastic from $110.00 to $90.00 and set an “outperform” rating on the stock in a research report on Friday, November 21st. Barclays dropped their price target on Elastic from $78.00 to $76.00 and set an “overweight” rating on the stock in a report on Friday. UBS Group reduced their price objective on Elastic from $125.00 to $110.00 and set a “buy” rating for the company in a research note on Friday, November 21st. 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. Finally, JPMorgan Chase & Co. cut their price target on shares of Elastic from $113.00 to $98.00 and set an “overweight” rating on the stock in a report on Friday, February 20th. Seventeen equities research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $95.25.

Elastic Price Performance

ESTC opened at $52.92 on Monday. Elastic has a 1 year low of $49.90 and a 1 year high of $116.00. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.97 and a quick ratio of 1.97. The company has a market capitalization of $5.58 billion, a price-to-earnings ratio of -66.15, a P/E/G ratio of 211.81 and a beta of 0.98. The firm’s fifty day moving average price is $67.90 and its two-hundred day moving average price is $77.70.

Elastic (NYSE:ESTC) last released 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. Elastic had a negative net margin of 5.04% and a negative return on equity of 2.25%. The company had revenue of $449.88 million for the quarter, compared to analyst estimates of $438.37 million. During the same period last year, the firm earned $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. As a group, analysts anticipate that Elastic will post -0.77 earnings per share for the current fiscal year.

Insider Buying and Selling at Elastic

In related news, CFO Navam Welihinda sold 1,046 shares of the business’s stock in a transaction on Wednesday, December 10th. The stock was sold at an average price of $74.51, for a total transaction of $77,937.46. Following the sale, the chief financial officer directly owned 123,874 shares in the company, valued at approximately $9,229,851.74. The trade was a 0.84% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Ken Exner sold 6,544 shares of the stock in a transaction dated Tuesday, December 9th. The stock was sold at an average price of $75.05, for a total value of $491,127.20. Following the sale, the insider directly owned 227,038 shares in the company, valued at $17,039,201.90. This trade represents a 2.80% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 61,828 shares of company stock worth $4,641,010. Company insiders own 12.70% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in ESTC. AXQ Capital LP purchased a new stake in shares of Elastic in the 2nd quarter worth about $419,000. Geode Capital Management LLC raised its stake in Elastic by 3.6% in the second quarter. Geode Capital Management LLC now owns 1,569,578 shares of the company’s stock worth $132,384,000 after buying an additional 54,812 shares in the last quarter. Mackenzie Financial Corp raised its stake in Elastic by 622.2% in the second quarter. Mackenzie Financial Corp now owns 77,005 shares of the company’s stock worth $6,494,000 after buying an additional 66,342 shares in the last quarter. Panagora Asset Management Inc. lifted its holdings in Elastic by 102.3% in the second quarter. Panagora Asset Management Inc. now owns 464,268 shares of the company’s stock worth $39,152,000 after buying an additional 234,735 shares during the period. Finally, Citigroup Inc. boosted its position in Elastic by 89.0% during the 3rd quarter. Citigroup Inc. now owns 89,357 shares of the company’s stock valued at $7,550,000 after acquiring an additional 42,087 shares in the last quarter. Hedge funds and other institutional investors own 97.03% of the company’s stock.

Key Stories Impacting Elastic

Here are the key news stories impacting Elastic this week:

• Positive Sentiment: Earnings beat and revenue upside: ESTC topped estimates with $0.73 EPS vs. $0.64 expected and revenue of $449.9M vs. $438.4M consensus; revenue rose ~17.7% year?over?year and management set FY?2026 EPS and Q4 guidance — the beat/guidance is the main reason the stock is climbing today. Article Title
• Positive Sentiment: Morgan Stanley remains constructive: MS trimmed its price target to $73 (from $80) but kept an Overweight rating, signaling continued conviction in upside versus the current price. Article Title
• Neutral Sentiment: TD Cowen updated its financial model and highlighted growth prospects but pared its target (reported reductions to $70 from $85), reflecting mixed views — growth expectations remain but estimates/photos have been revised. Article Title
• Negative Sentiment: DA Davidson trimmed its target to $65 and moved to a Neutral stance, signaling more cautious near?term expectations which can dampen momentum. Article Title
• Negative Sentiment: Multiple sell?side cuts: Truist, Barclays, Oppenheimer, Wells Fargo and Piper Sandler have lowered targets or cut expectations in recent days (examples: Truist to $80, Oppenheimer to $85, Wells Fargo to $60), increasing analyst skepticism about near?term upside. Article Title
• Negative Sentiment: Shares previously gapped down after analyst downgrades, highlighting the risk that continued target cuts or negative commentary could reverse intraday gains. Article Title

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.