Elastic price target lowered to $85 from $100 at Oppenheimer

Oppenheimer lowered the firm’s price target on Elastic (ESTC) to $85 from $100 and keeps an Outperform rating on the shares. The firm notes Elastic reported solid Q3 results and raised FY26 guidance on broad-based demand and steady commitments/consumption. Oppenheimer views the Q4 guidance as conservative, setting up likely upside potential.

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