Elastic (ESTC) Stock Slides After Strong Q2 FY26 Beat as Wall Street Resets AI Hopes
Elastic N.V. (NYSE: ESTC), the “Search AI Company,” is under heavy pressure in Friday trading despite delivering better‑than‑expected fiscal second‑quarter 2026 results, raising full‑year guidance and leaning harder into generative AI and cloud growth. After reporting earnings on Thursday evening, Elastic shares dropped roughly 11–12% in pre‑market trading on Friday, touching around $73 as multiple brokers cut their price targets. TradingView+2GuruFocus+2 By early afternoon, the stock had climbed back toward the low‑$80s, still down a high‑single‑digit percentage on the day and valuing the company at roughly $9 billion. Stock Titan Q2 FY26: Revenue up 16%, cloud up 22% – but