Elastic price target raised to $125 from $110 at Jefferies

Jefferies raised the firm’s price target on Elastic (ESTC) to $125 from $110 and keeps a Buy rating on the shares. The company reported a “top-tier” 5% revenue beat over guidance but its updated fiscal 2026 revenue guide implies “just” 13%-14% growth, “signaling continued caution,” the analyst tells investors in a research note. Jefferies says that while Elastic’s recent sales team changes are improving execution, its track record remains uneven and its growth still lags peers.