Truist Financial Cuts Elastic (NYSE:ESTC) Price Target to $80.00

Elastic (NYSE:ESTC) had its price target cut by Truist Financial from $105.00 to $80.00 in a research note issued to investors on Friday morning,Benzinga reports. They currently have a buy rating on the stock.

Other equities analysts also recently issued reports about the company. Jefferies Financial Group dropped their price objective on Elastic from $105.00 to $95.00 and set a “buy” rating for the company in a research note on Monday, January 5th. Oppenheimer lowered their target price on Elastic from $100.00 to $85.00 and set an “outperform” rating on the stock in a report on Friday. Monness Crespi & Hardt cut Elastic from a “buy” rating to a “neutral” rating in a research report on Friday, November 21st. DA Davidson decreased their price objective on shares of Elastic from $100.00 to $80.00 and set a “neutral” rating on the stock in a research report on Friday, November 21st. Finally, TD Cowen reissued a “hold” rating on shares of Elastic in a research note on Monday, February 23rd. Seventeen analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $96.17.

Elastic Stock Down 15.5%

Shares of NYSE ESTC opened at $52.04 on Friday. The stock has a market capitalization of $5.48 billion, a price-to-earnings ratio of -65.05, a price-to-earnings-growth ratio of 211.81 and a beta of 0.98. Elastic has a 52 week low of $49.90 and a 52 week high of $117.49. The firm has a 50-day moving average price of $68.42 and a 200 day moving average price of $77.86. 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 issued its earnings results on Thursday, February 26th. The company reported $0.73 earnings per share 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 company had revenue of $449.88 million for the quarter, compared to analyst estimates of $438.37 million. During the same period in the prior year, the business posted $0.63 earnings per share. The firm’s revenue for the quarter was up 17.7% compared to the same quarter last year. 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 anticipate that Elastic will post -0.77 EPS for the current fiscal year.

Insider Transactions at Elastic

In other news, CEO Ashutosh Kulkarni sold 20,413 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 value of $1,531,995.65. Following the completion of the transaction, the chief executive officer owned 431,901 shares of the company’s stock, valued at $32,414,170.05. The trade was a 4.51% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CRO Mark Eugene Dodds sold 5,800 shares of the firm’s stock in a transaction that occurred on Friday, December 5th. The stock was sold at an average price of $74.60, for a total transaction of $432,680.00. Following the sale, the executive owned 161,484 shares in the company, valued at approximately $12,046,706.40. This trade represents a 3.47% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 61,828 shares of company stock worth $4,641,010 in the last ninety days. Company insiders own 12.70% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in ESTC. Pacer Advisors Inc. boosted its holdings in shares of Elastic by 80.9% during the fourth quarter. Pacer Advisors Inc. now owns 10,539 shares of the company’s stock worth $795,000 after purchasing an additional 4,714 shares during the last quarter. Kera Capital Partners Inc. lifted its position in Elastic by 129.8% during the fourth quarter. Kera Capital Partners Inc. now owns 10,482 shares of the company’s stock worth $791,000 after buying an additional 5,920 shares during the period. Invesco Ltd. lifted its position in Elastic by 17.6% during the fourth quarter. Invesco Ltd. now owns 128,844 shares of the company’s stock worth $9,720,000 after buying an additional 19,304 shares during the period. Corient Private Wealth LLC boosted its stake in Elastic by 805.7% in the 4th quarter. Corient Private Wealth LLC now owns 36,420 shares of the company’s stock worth $2,748,000 after buying an additional 32,399 shares during the last quarter. Finally, Mercer Global Advisors Inc. ADV grew its holdings in Elastic by 153.1% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 79,926 shares of the company’s stock valued at $6,030,000 after buying an additional 48,344 shares during the period. 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: 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.