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

Elastic (NYSE:ESTC) had its price objective dropped by research analysts at Piper Sandler from $110.00 to $85.00 in a report issued on Friday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Piper Sandler’s price objective suggests a potential upside of 63.61% from the company’s current price.

ESTC has been the topic of a number of other research reports. Oppenheimer cut their price objective on Elastic from $100.00 to $85.00 and set an “outperform” rating on the stock in a research report on Friday. Cantor Fitzgerald lowered their target price on Elastic from $94.00 to $85.00 and set a “neutral” rating for the company in a research note on Friday, November 21st. Canaccord Genuity Group reduced their price target on Elastic from $120.00 to $115.00 and set a “buy” rating on the stock in a research report on Friday, November 21st. Bank of America lowered their price objective on Elastic from $111.00 to $90.00 and set a “neutral” rating for the company in a research report on Friday, November 21st. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Elastic in a report on Wednesday, January 21st. Seventeen research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $99.50.

Elastic Trading Down 15.6%

NYSE ESTC traded down $9.63 during trading on Friday, hitting $51.95. The stock had a trading volume of 4,367,682 shares, compared to its average volume of 1,990,781. The company has a quick ratio of 1.97, a current ratio of 1.97 and a debt-to-equity ratio of 0.64. The company has a market capitalization of $5.47 billion, a PE ratio of -50.33, a PEG ratio of 235.94 and a beta of 0.93. The firm has a 50 day moving average price of $68.90 and a 200 day moving average price of $77.96. Elastic has a twelve month low of $49.90 and a twelve month high of $117.49.

Insider Activity

In related news, insider Carolyn Herzog sold 5,353 shares of the firm’s stock in a transaction dated Tuesday, December 9th. The shares were sold at an average price of $75.05, for a total value of $401,742.65. Following the completion of the sale, the insider owned 89,324 shares in the company, valued at $6,703,766.20. This trade represents a 5.65% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Ashutosh Kulkarni sold 20,413 shares of the company’s stock in a transaction on Tuesday, December 9th. The stock was sold at an average price of $75.05, for a total transaction of $1,531,995.65. Following the transaction, the chief executive officer directly owned 431,901 shares in the company, valued at approximately $32,414,170.05. This trade represents a 4.51% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 61,828 shares of company stock valued at $4,641,010 over the last ninety days. 12.70% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. increased its stake in Elastic by 7.4% during the third quarter. Vanguard Group Inc. now owns 10,206,204 shares of the company’s stock worth $862,322,000 after acquiring an additional 705,991 shares during the last quarter. AQR Capital Management LLC raised its holdings in Elastic by 153.4% in 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 period. Pictet Asset Management Holding SA grew its stake in Elastic by 3.2% during the fourth quarter. Pictet Asset Management Holding SA now owns 4,534,498 shares of the company’s stock worth $342,127,000 after buying an additional 138,974 shares during the period. FIL Ltd lifted its position in Elastic by 36.9% during the 4th quarter. FIL Ltd now owns 3,628,748 shares of the company’s stock worth $273,753,000 after acquiring an additional 977,578 shares in the last quarter. Finally, Voya Investment Management LLC grew its position in Elastic by 4.7% in the third quarter. Voya Investment Management LLC now owns 1,781,925 shares of the company’s stock valued at $150,555,000 after acquiring an additional 79,465 shares in the last quarter. 97.03% of the stock is currently owned by institutional investors and hedge funds.

More Elastic News

Here are the key news stories impacting Elastic this week:

• Positive Sentiment: Company issued stronger-than-expected forward guidance for Q4 FY2026 and FY2026 (EPS and revenue guidance well above consensus), which is bullish for future profitability and cash flow. Elastic Reports Third Quarter Fiscal 2026 Financial Results
• Positive Sentiment: Top-line strength: revenue of ~$450M (+18% YoY) and subscription revenue growth — management highlighted AI expansion and sales-led subscription gains, supporting the company’s growth story. Elastic NV (ESTC) Q3 2026 Earnings Call Highlights
• Neutral Sentiment: Several analyst notes: Oppenheimer and Barclays trimmed price targets (Oppenheimer $100→$85; Barclays $78→$76) but retained Outperform/Overweight ratings—still implying meaningful upside from current levels, though less than before. Benzinga
• Neutral Sentiment: Earnings call/transcripts are available for detail on margin drivers, AI product momentum and guidance assumptions — useful for investors who want to dig into the drivers behind management’s upbeat outlook. Elastic Q3 2026 Earnings Call Transcript
• Negative Sentiment: Mixed/weak EPS metrics: some outlets reported an EPS miss or GAAP loss for the quarter despite revenue strength — this disconnect between revenue and per‑share earnings (and confusion around reported EPS) appears to have triggered selling pressure. Elastic earnings snapshot
• Negative Sentiment: Market reaction: several news outlets noted the stock tumbled after the print despite revenue beats — likely short‑term profit-taking, focus on EPS/GAAP metrics, and reduced near‑term analyst upside after PT cuts. 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.