These Analysts Slash Their Forecasts On Elastic Following Q2 Earnings

Core Insights - Elastic N.V. reported strong second-quarter earnings, with adjusted earnings of 64 cents per share, surpassing the analyst estimate of 58 cents, and quarterly revenue of $423.48 million, exceeding the Street estimate of $418.16 million [1][2] Financial Performance - The company experienced robust growth across all metrics in Q2, with AI positively impacting various areas of the business [2] - Elastic raised its fiscal 2026 adjusted EPS guidance to a range of $2.40 to $2.46, compared to the previous estimate of $2.36, and increased its revenue guidance to a range of $1.715 billion to $1.721 billion, up from the $1.7 billion estimate [2] Market Reaction - Following the earnings announcement, Elastic shares fell by 12.2% to $72.10 in pre-market trading [3] - Analysts adjusted their price targets for Elastic, with Stifel maintaining a Buy rating but lowering the target from $134 to $108, while B of A Securities maintained a Neutral rating and reduced the target from $111 to $90 [5]