Elastic (NYSE:ESTC) Price Target Cut to $80.00 by Analysts at Canaccord Genuity Group

Elastic (NYSE:ESTC) had its price objective cut by Canaccord Genuity Group from $90.00 to $80.00 in a report released on Friday morning,Benzinga reports. They currently have a buy rating on the stock.

A number of other research firms have also recently weighed in on ESTC. TD Cowen cut their price objective on shares of Elastic from $65.00 to $60.00 and set a “hold” rating on the stock in a research report on Tuesday. Wedbush cut their price objective on shares of Elastic from $74.00 to $65.00 and set an “outperform” rating on the stock in a research report on Friday. Royal Bank Of Canada cut their price objective on shares of Elastic from $80.00 to $70.00 and set an “outperform” rating on the stock in a research report on Thursday, April 16th. Barclays cut their price objective on shares of Elastic from $78.00 to $76.00 and set an “overweight” rating on the stock in a research report on Friday, February 27th. Finally, Wolfe Research set a $55.00 price objective on shares of Elastic in a research report on Friday. Eighteen research analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $80.04.

Elastic Trading Up 12.5%

ESTC stock opened at $64.82 on Friday. The company has a quick ratio of 1.82, a current ratio of 1.82 and a debt-to-equity ratio of 0.72. Elastic has a twelve month low of $42.05 and a twelve month high of $96.07. The stock has a market capitalization of $6.71 billion, a price-to-earnings ratio of 18.52, a price-to-earnings-growth ratio of 109.01 and a beta of 0.88. The firm’s fifty day simple moving average is $50.38 and its two-hundred day simple moving average is $62.83.

Elastic (NYSE:ESTC) last posted its quarterly earnings data on Thursday, May 28th. The company reported $0.61 earnings per share for the quarter, beating analysts’ consensus estimates of $0.56 by $0.05. Elastic had a net margin of 21.14% and a negative return on equity of 2.02%. The business had revenue of $450.68 million for the quarter, compared to analysts’ expectations of $446.66 million. During the same quarter in the previous year, the business posted $0.47 earnings per share. The business’s 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. As a group, analysts anticipate that Elastic will post 0.02 earnings per share for the current year.

Insider Activity at Elastic

In other Elastic news, insider Ken Exner sold 4,310 shares of the stock in a transaction dated Monday, March 9th. The shares were sold at an average price of $52.28, for a total transaction of $225,326.80. Following the transaction, the insider directly owned 222,728 shares in the company, valued at $11,644,219.84. This represents a 1.90% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Carolyn Herzog sold 3,989 shares of the stock in a transaction dated Monday, March 9th. The stock was sold at an average price of $52.28, for a total transaction of $208,544.92. Following the transaction, the insider owned 85,335 shares in the company, valued at approximately $4,461,313.80. The trade was a 4.47% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 38,188 shares of company stock worth $1,996,469 over the last quarter. Corporate insiders own 12.70% of the company’s stock.

Institutional Trading of Elastic

Several hedge funds have recently modified their holdings of ESTC. AQR Capital Management LLC lifted its position in shares of Elastic by 153.4% during the fourth quarter. AQR Capital Management LLC now owns 7,545,081 shares of the company’s stock valued at $569,201,000 after buying an additional 4,567,720 shares during the last quarter. First Trust Advisors LP raised its position in shares of Elastic by 516.1% in the 1st quarter. First Trust Advisors LP now owns 2,627,636 shares of the company’s stock valued at $131,356,000 after purchasing an additional 2,201,140 shares during the last quarter. Pictet Asset Management Holding SA raised its position in shares of Elastic by 43.2% in the 1st quarter. Pictet Asset Management Holding SA now owns 6,492,717 shares of the company’s stock valued at $324,550,000 after purchasing an additional 1,958,219 shares during the last quarter. FIL Ltd raised its position in shares of Elastic by 36.9% in the 4th quarter. FIL Ltd now owns 3,628,748 shares of the company’s stock valued at $273,753,000 after purchasing an additional 977,578 shares during the last quarter. Finally, Alyeska Investment Group L.P. raised its position in shares of Elastic by 490.4% in the 3rd quarter. Alyeska Investment Group L.P. now owns 1,113,503 shares of the company’s stock valued at $94,080,000 after purchasing an additional 924,911 shares during the last quarter. 97.03% of the stock is owned by hedge funds and other institutional investors.

More Elastic News

Here are the key news stories impacting Elastic this week:

• Positive Sentiment: Elastic beat fiscal Q4 expectations, reporting EPS of $0.61 versus $0.56 expected and revenue of $450.7 million versus $446.7 million expected, with revenue up 16% year over year. Elastic Reports Fourth Quarter and Fiscal 2026 Financial Results
• Positive Sentiment: The company also issued first-quarter and full-year guidance above consensus for EPS, suggesting management sees continued earnings momentum. Elastic Reports Fourth Quarter and Fiscal 2026 Financial Results
• Positive Sentiment: Wall Street remains broadly constructive: Citigroup raised its price target to $104, and other firms like Jefferies, Canaccord, Oppenheimer, and Barclays still have buy/outperform-style ratings even after trimming targets. Analyst target updates
• Neutral Sentiment: Several analysts cut price targets after the report, including Barclays, Jefferies, Canaccord Genuity, Wedbush, and Oppenheimer, which signals some valuation caution rather than a thesis change. Analyst target updates
• Neutral Sentiment: Some investors may also be focusing on management’s fiscal 2027 outlook implying mid-teens revenue growth, which is still healthy but may look slower than the market hoped for after a strong quarter. Elastic shares fall 3.2% as investors digest Q4 results and fiscal 2027 outlook
• Negative Sentiment: Despite the beat, the stock has been volatile because investors were disappointed by the initial post-earnings reaction and are weighing strong growth against the company’s still-negative margins. Elastic N.V. (ESTC) Stock Falls on Q4 2026 Earnings

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.