Elastic (NYSE:ESTC) Price Target Lowered to $68.00 at Barclays

Key Points

• Barclays lowered its price target on Elastic from $76 to $68 but kept an Overweight rating, implying about 4.9% upside from the prior close.
• Other analysts remain generally constructive, with firms like UBS, Oppenheimer, and Canaccord Genuity maintaining bullish ratings even as some trimmed their targets. Overall, Elastic still carries a Moderate Buy consensus and an average price target of $80.04.
• Elastic recently beat quarterly expectations, posting $0.61 EPS and $450.7 million in revenue, while revenue rose 16% year over year. The company also issued guidance above consensus for both Q1 2027 and FY 2027.

Elastic (NYSE:ESTC - Get Free Report) had its price objective dropped by analysts at Barclays from $76.00 to $68.00 in a report issued on Friday,Benzinga reports. The firm currently has an "overweight" rating on the stock. Barclays's price objective points to a potential upside of 4.90% from the stock's previous close.

Other research analysts have also recently issued research reports about the stock. UBS Group restated a "buy" rating and set a $85.00 target price on shares of Elastic in a research note on Friday. Oppenheimer lowered their target price on shares of Elastic from $85.00 to $75.00 and set an "outperform" rating on the stock in a research note on Friday. Canaccord Genuity Group lowered their target price on shares of Elastic from $90.00 to $80.00 and set a "buy" rating on the stock in a research note on Friday. Wells Fargo & Company lowered their target price on shares of Elastic from $75.00 to $60.00 and set an "equal weight" rating on the stock in a research note on Friday, February 27th. Finally, Piper Sandler lowered their target price on shares of Elastic from $110.00 to $85.00 and set an "overweight" rating on the stock in a research note on Friday, February 27th. Eighteen investment analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Elastic has a consensus rating of "Moderate Buy" and a consensus price target of $80.04.

Elastic Stock Performance

NYSE:ESTC traded up $7.21 during trading hours on Friday, reaching $64.82. The company had a trading volume of 6,061,479 shares, compared to its average volume of 2,064,618. The company has a current ratio of 1.82, a quick ratio of 1.82 and a debt-to-equity ratio of 0.72. Elastic has a 52 week low of $42.05 and a 52 week high of $96.07. The firm has a market cap of $6.71 billion, a price-to-earnings ratio of -81.03, a PEG ratio of 101.99 and a beta of 0.88. The firm's 50 day moving average price is $50.20 and its 200-day moving average price is $62.82.

Elastic (NYSE:ESTC - Get Free Report) last posted its earnings results on Thursday, May 28th. The company reported $0.61 EPS for the quarter, topping analysts' consensus estimates of $0.56 by $0.05. Elastic had a negative net margin of 5.04% and a negative return on equity of 2.34%. The business had revenue of $450.68 million during the quarter, compared to the consensus estimate of $446.66 million. During the same quarter in the previous year, the firm posted $0.47 EPS. The firm's revenue was up 16.0% on a year-over-year basis. Elastic has set its FY 2027 guidance at 3.210-3.290 EPS and its Q1 2027 guidance at 0.570-0.590 EPS. On average, analysts forecast that Elastic will post 0.04 EPS for the current year.

Insiders Place Their Bets

In other Elastic news, CTO Shay Banon sold 4,283 shares of the business's stock in a transaction on Monday, March 9th. The shares were sold at an average price of $52.28, for a total value of $223,915.24. Following the sale, the chief technology officer owned 4,354,945 shares in the company, valued at $227,676,524.60. The trade was a 0.10% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Carolyn Herzog sold 3,989 shares of the business's stock in a transaction on Monday, March 9th. The stock was sold at an average price of $52.28, for a total transaction of $208,544.92. Following the completion of the sale, 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 position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 38,188 shares of company stock worth $1,996,469. 12.70% of the stock is owned by corporate insiders.

Institutional Trading of Elastic

Several hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. raised its position in shares of Elastic by 7.4% during the 3rd quarter. Vanguard Group Inc. now owns 10,206,204 shares of the company's stock valued at $862,322,000 after buying an additional 705,991 shares in the last quarter. AQR Capital Management LLC raised its position in shares of Elastic by 153.4% during the 4th 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 in the last quarter. Pictet Asset Management Holding SA raised its position in shares of Elastic by 43.2% during 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 buying an additional 1,958,219 shares in the last quarter. FIL Ltd raised its position in shares of Elastic by 36.9% during the 4th quarter. FIL Ltd now owns 3,628,748 shares of the company's stock valued at $273,753,000 after buying an additional 977,578 shares in the last quarter. Finally, First Trust Advisors LP raised its position in shares of Elastic by 516.1% during the 1st quarter. First Trust Advisors LP now owns 2,627,636 shares of the company's stock valued at $131,356,000 after buying an additional 2,201,140 shares in the last quarter. 97.03% of the stock is currently owned by hedge funds and other institutional investors.

Key Stories Impacting Elastic

Here are the key news stories impacting Elastic this week:

• Positive Sentiment: Elastic reported fiscal Q4 EPS of $0.61 and revenue of $450.7 million, both ahead of estimates, while revenue grew 16% year over year. Elastic Reports Fourth Quarter and Fiscal 2026 Financial Results
• Positive Sentiment: The company’s outlook also came in above consensus, with Q1 2027 EPS guidance of $0.57-$0.59 and FY 2027 EPS guidance of $3.21-$3.29, signaling confidence in continued growth and profitability improvement. Elastic Reports Fourth Quarter and Fiscal 2026 Financial Results
• Positive Sentiment: Citigroup raised its price target on Elastic to $104 from $95, and Canaccord still kept a Buy rating while setting a $80 target, reinforcing bullish sentiment from analysts. Analyst price target updates via Benzinga
• Positive Sentiment: Elastic also reported solid operating cash flow and a growing backlog, which can help investors view the business as having durable demand despite near-term volatility. Elastic shares fall 3.2% as investors digest Q4 results and fiscal 2027 outlook
• Neutral Sentiment: Several analysts did trim targets after the earnings release, including Wedbush, Oppenheimer, and Canaccord, suggesting expectations have reset rather than turned negative. Analyst price target updates via Benzinga
• Negative Sentiment: Some investors may be disappointed that fiscal 2027 revenue guidance implies growth moderating to the mid-teens, which appears to have caused initial post-earnings selling pressure. Elastic shares fall 3.2% as investors digest Q4 results and fiscal 2027 outlook

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.

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