Elastic NV tumbles after brokerages cut PT

Elastic

21/11/2025 12:34

** U.S.-listed shares of data analytics firm Elastic NV ESTC.K 3E1.F fall 10.9% to $73.14 premarket after at least 10 brokerages cut PT

** "While Elastic is present at the AI party, we have not found instances in which Elastic is owning the dance floor as an outsized spend beneficiary," says Scotiabank

     ** Brokerage adds it sees Palo Alto's PANW.O acquisition of Chronosphere as a slight negative for the company

** Wells Fargo says GenAI is helpful to core search business, but tailwinds need to extend to entire platform to be material

** Jefferies notes that while GenAI monetization opportunity could boost co's growth, it is still playing catch-up with peers

** ESTC Q2 revenue and adj. EPS beat analysts' estimates on Thursday, according to LSEG data

** ESTC down 17.2% YTD

 (Reporting by Utkarsh Tushar Hathi)

 ((utkarshtushar.hathi@thomsonreuters.com))