Elastic NV

ESTC: XNYS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
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Elastic Earnings: Solid Quarterly Beat, but Terminal Value Question Remains; Fair Value Cut 22%

Mark Giarelli

Feb 27, 2026

Elastic’s fiscal third-quarter earnings were solid and exceeded management’s sales and profit guidance. However, there was a slight deceleration in constant-currency year-over-year growth (from 17% to 16%), and guidance for the fourth quarter was a bit soft.

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Elastic NV

Elastic Earnings: Solid Quarterly Beat, but Terminal Value Question Remains; Fair Value Cut 22%

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