Elastic (NYSE:ESTC) Price Target Lowered to $80.00 at Canaccord Genuity Group

Key Points

• Canaccord Genuity Group cut Elastic’s price target from $90 to $80 but kept a buy rating, implying about 25% upside from the current share price.
• Elastic shares rose 11% to $63.93 after the company reported fiscal Q4 earnings and revenue beat expectations, with EPS of $0.61 and revenue of $450.68 million, up 16% year over year.
• The company also raised guidance for fiscal 2027 and Q1 2027, while analyst sentiment remains broadly constructive with an average Moderate Buy rating and an average price target of $81.07.

Elastic (NYSE:ESTC - Get Free Report) had its target price decreased by investment analysts at Canaccord Genuity Group from $90.00 to $80.00 in a research report issued on Friday,Benzinga reports. The firm currently has a "buy" rating on the stock. Canaccord Genuity Group's price objective indicates a potential upside of 25.13% from the company's current price.

A number of other equities analysts also recently issued reports on the company. Wedbush dropped their price target on Elastic from $74.00 to $65.00 and set an "outperform" rating on the stock in a research report on Friday. Citigroup raised their price objective on Elastic from $95.00 to $104.00 and gave the company a "buy" rating in a research report on Friday. Wells Fargo & Company dropped their price objective on Elastic from $75.00 to $60.00 and set an "equal weight" rating on the stock in a research report on Friday, February 27th. Rosenblatt Securities reaffirmed a "buy" rating and set a $110.00 price objective on shares of Elastic in a research report on Tuesday. Finally, Cantor Fitzgerald dropped their price objective on Elastic from $66.00 to $59.00 and set a "neutral" rating on the stock in a research report on Tuesday. Eighteen investment analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $81.07.

Elastic Trading Up 11.0%

ESTC stock traded up $6.32 during midday trading on Friday, reaching $63.93. The company's stock had a trading volume of 4,141,877 shares, compared to its average volume of 2,054,944. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.82 and a current ratio of 1.82. The stock has a fifty day simple moving average of $50.20 and a two-hundred day simple moving average of $62.82. Elastic has a 1 year low of $42.05 and a 1 year high of $96.07. The firm has a market capitalization of $6.62 billion, a price-to-earnings ratio of -79.42, a PEG ratio of 101.99 and a beta of 0.88.

Elastic (NYSE:ESTC - Get Free Report) last released its earnings results on Thursday, May 28th. The company reported $0.61 earnings per share for the quarter, topping analysts' consensus estimates of $0.56 by $0.05. Elastic had a negative return on equity of 2.34% and a negative net margin of 5.04%.The business had revenue of $450.68 million for the quarter, compared to analyst estimates of $446.66 million. During the same quarter last year, the firm 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. On average, equities research analysts predict that Elastic will post 0.04 EPS for the current year.

Insider Transactions at Elastic

In related news, CRO Mark Eugene Dodds sold 3,723 shares of Elastic stock in a transaction that occurred on Monday, March 9th. The stock was sold at an average price of $52.28, for a total transaction of $194,638.44. Following the completion of the transaction, the executive directly owned 152,563 shares in the company, valued at approximately $7,975,993.64. This trade represents a 2.38% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Ashutosh Kulkarni sold 17,756 shares of Elastic stock in a transaction that occurred on Monday, March 9th. The shares were sold at an average price of $52.28, for a total value of $928,283.68. Following the transaction, the chief executive officer owned 409,145 shares of the company's stock, valued at approximately $21,390,100.60. This represents a 4.16% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 38,188 shares of company stock valued at $1,996,469. 12.70% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Sound Income Strategies LLC purchased a new position in Elastic during the fourth quarter valued at approximately $25,000. Geneos Wealth Management Inc. acquired a new stake in Elastic in the second quarter valued at approximately $31,000. Bessemer Group Inc. acquired a new stake in Elastic in the first quarter valued at approximately $25,000. Activest Wealth Management grew its holdings in Elastic by 3,181.3% in the fourth quarter. Activest Wealth Management now owns 525 shares of the company's stock valued at $40,000 after purchasing an additional 509 shares during the period. Finally, Aster Capital Management DIFC Ltd grew its holdings in Elastic by 206.1% in the fourth quarter. Aster Capital Management DIFC Ltd now owns 551 shares of the company's stock valued at $42,000 after purchasing an additional 371 shares during the period. 97.03% of the stock is currently owned by hedge funds and other institutional investors.

Trending Headlines about Elastic

Here are the key news stories impacting Elastic this week:

• Positive Sentiment: Elastic beat fiscal Q4 estimates, reporting adjusted EPS of $0.61 versus $0.56 expected and revenue of $450.7 million versus $446.7 million expected, with sales up 16% year over year. Management also highlighted subscription growth, cloud expansion, and continued enterprise traction. Elastic Reports Fourth Quarter and Fiscal 2026 Financial Results
• Positive Sentiment: The company raised guidance for both fiscal 2027 and first-quarter fiscal 2027, with EPS and revenue outlooks coming in above consensus, which supports the case for continued growth and profitability improvement. ESTC Q4 Earnings Surpass Expectations, Revenues Increase Y/Y
• Neutral Sentiment: Several analysts reiterated constructive views after the print, including “outperform” and “buy” ratings, even as Wedbush and Oppenheimer trimmed price targets, reflecting confidence in the business but a reset in valuation expectations.
• Negative Sentiment: Some investors appear focused on slowing growth expectations in fiscal 2027 and the market’s reaction suggests the stock may be vulnerable if execution is solid but not enough to justify a higher multiple.

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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