07:41 AM EST, 11/21/2025 (MT Newswires) -- Elastic (ESTC) fiscal Q2 sales-led subscription revenue growth came in below targets set during October's analyst day, but Wedbush said in a a note on Friday that it was merely a 'speed bump'.

The brokerage firm said Elastic's fiscal Q2 beat both bottom and top line Wall Street expectations, and the company raised its fiscal 2026 guidance.

"The company is in the early innings of its long-term growth story as it continues to invest strategically to capture more share of the AI market," Wedbush said.

The firm maintained its 'Outperform' rating but lowered its price target to $90 from $110.

Shares of the company were down nearly 11% in Friday's premarket activity.

Price: 73.00, Change: -9.08, Percent Change: -11.06