Elastic price target lowered to $105 from $124 at Barclays

Barclays lowered the firm’s price target on Elastic (ESTC) to $105 from $124 and keeps an Overweight rating on the shares. The firm thinks there could be “some short term pain” for Elastic shares as the company’s fiscal 2026 guidance came in below expectations, and some leading indicators weakened sequentially. It takes the view though that underlying trends remain healthy, while the new guidance “sets a beatable floor for the coming quarters.”