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

Core Viewpoint - Oppenheimer has lowered the price target for Elastic (ESTC) to $85 from $100 while maintaining an Outperform rating on the shares, indicating a positive outlook despite the price adjustment [1] Financial Performance - Elastic reported solid Q3 results, demonstrating strong performance and broad-based demand [1] - The company raised its FY26 guidance, reflecting steady commitments and consumption [1] Future Outlook - Oppenheimer considers the Q4 guidance to be conservative, suggesting potential for upside in the future [1]