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

27 Feb 2026, 18:44 by Kim Johansen · The Markets Daily

Elastic (NYSE:ESTC – Get Free Report) had its price objective decreased by equities researchers at Truist Financial from $105.00 to $80.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Truist Financial’s price objective suggests a potential upside of 53.33% from the stock’s current price.

Several other analysts also recently weighed in on the company. Monness Crespi & Hardt downgraded Elastic from a “buy” rating to a “neutral” rating in a research report on Friday, November 21st. Bank of America reduced their price target on shares of Elastic from $111.00 to $90.00 and set a “neutral” rating on the stock in a research note on Friday, November 21st. Wedbush cut their target price on shares of Elastic from $110.00 to $90.00 and set an “outperform” rating on the stock in a research report on Friday, November 21st. Jefferies Financial Group lowered their price target on shares of Elastic from $105.00 to $95.00 and set a “buy” rating for the company in a report on Monday, January 5th. Finally, Royal Bank Of Canada dropped their price target on Elastic from $115.00 to $95.00 and set an “outperform” rating for the company in a research note on Monday, January 5th. Seventeen equities 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 company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $97.21.

Check Out Our Latest Stock Report on Elastic

Elastic Price Performance

Shares of NYSE:ESTC traded down $9.41 during trading on Friday, reaching $52.18. 4,695,872 shares of the company traded hands, compared to its average volume of 1,999,048. The firm has a market capitalization of $5.50 billion, a PE ratio of -50.69, a PEG ratio of 235.94 and a beta of 0.93. Elastic has a 52 week low of $49.90 and a 52 week high of $117.49. 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’s 50 day moving average is $68.90 and its two-hundred day moving average is $77.96.

Insider Buying and Selling at Elastic

In other news, insider Ken Exner sold 6,544 shares of the firm’s stock in a transaction dated Tuesday, December 9th. The stock was sold at an average price of $75.05, for a total value of $491,127.20. Following the completion of the sale, the insider directly owned 227,038 shares in the company, valued at $17,039,201.90. This trade represents a 2.80% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Ashutosh Kulkarni sold 20,413 shares of the business’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 $1,531,995.65. Following the completion of the sale, the chief executive officer directly 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 disclosure for this sale is available in the SEC filing. Insiders sold 61,828 shares of company stock valued at $4,641,010 over the last 90 days. Insiders own 12.70% of the company’s stock.

Institutional Investors Weigh In On Elastic

Hedge funds have recently added to or reduced their stakes in the company. Orion Porfolio Solutions LLC lifted its holdings in shares of Elastic by 1.4% in the 3rd quarter. Orion Porfolio Solutions LLC now owns 8,593 shares of the company’s stock worth $726,000 after purchasing an additional 118 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its stake in shares of Elastic by 17.3% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,159 shares of the company’s stock valued at $98,000 after buying an additional 171 shares in the last quarter. Public Employees Retirement System of Ohio grew its holdings in shares of Elastic by 0.6% during the third quarter. Public Employees Retirement System of Ohio now owns 28,323 shares of the company’s stock valued at $2,393,000 after buying an additional 175 shares during the last quarter. Jones Financial Companies Lllp increased its position in shares of Elastic by 6.9% during the third quarter. Jones Financial Companies Lllp now owns 3,020 shares of the company’s stock worth $260,000 after acquiring an additional 194 shares in the last quarter. Finally, California State Teachers Retirement System increased its position in shares of Elastic by 0.3% during the second quarter. California State Teachers Retirement System now owns 83,403 shares of the company’s stock worth $7,033,000 after acquiring an additional 219 shares in the last quarter. Institutional investors and hedge funds own 97.03% of the company’s stock.

Elastic News Summary

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

(Get Free Report)

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.