Core Viewpoint - Elastic N.V. (NYSE:ESTC) is gaining attention on Wall Street as an AI stock, with a recent price target adjustment by Rosenblatt analyst Blair Abernethy from $130.00 to $110.00 while maintaining a "Buy" rating, indicating confidence in the company's potential despite macro pressures [1]. Group 1: Financial Performance and Forecast - Elastic is expected to report Q3/FY 26 results in late February, with projections indicating an in-line to marginal beat [2]. - The firm forecasts Elastic Cloud growth of 21% for the upcoming quarter, slightly down from 22% in the previous quarter, while leaving estimates unchanged [4]. Group 2: Product Developments and Market Position - Recent advancements include the general availability release of the Agent Builder and a realignment of sales focused on high-value customers, positioning the company favorably in the market [2][3]. - The company is well-positioned to benefit from trends in tool consolidation, log management, legacy SIEM modernization, and the development of new AI applications utilizing the Elastic Search Relevance Engine with vector database capabilities [3].